Tesla’s future looks grim as CEO Elon Musk’s political antics turn the brand toxic with both owners and potential buyers disgusted by his slash-and-burn tactics ahead of his attempt to take over the US federal government.
Tesla stocks have dropped by over 50 percent since its December highs, its CEO’s political gambles have wiped over $100 billion off his personal wealth, and the company’s sales are slumping, in the US and Europe.
Musk’s distraction with his own Neuralink, SpaceX and Boring Company projects, and the development of new models could also be blamed for the company’s woes as it faces increased competition from brands such as Kia and Volkswagen.
The grass roots effort to oppose Musk’s takeover of the federal government, damage Tesla’s stock price andnet worth, and the increasing reports of arson and vandalism at the company’s stores could also scupper the company’s chances of recovery.