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Musk's Tesla also feels the pain
The Citizen
|March 28, 2025
Tesla, the Elon Musk-run auto company, has had a turbulent time recently, fuelled by its chief executive's close ties to Donald Trump and increased electric vehicle competition.
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The mounting issues have sent the company's share price tumbling in recent weeks.
Here are some of the biggest challenges it faces:
Gone are the days when Tesla was far and away the world leader in electric vehicle sales.
China's BYD is now snapping at Tesla's heels, selling 1.76 million vehicles last year - up 12% year-on-year - to Tesla's 1.79 million, a 1% decline. Including hybrid vehicles, BYD's revenues exceeded the US auto maker's last year, $107.2 billion (about R1.9 trillion) to $97.7 billion.
To make matters worse, Musk's leading role in the Trump administration - and vocal support for far-right politics in Europe - appears to be hampering Tesla's bottom line.
This story is from the March 28, 2025 edition of The Citizen.
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