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Estimates for Tesla earnings cut further on 'brand damage' amid Musk backlash
The Straits Times
|April 05, 2025
One of Wall Street's most bearish Tesla analysts further reduced estimates for the company's earnings, citing the magnitude of car-buyer backlash against chief executive Elon Musk.
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Tesla's first-quarter vehicle deliveries were far below even JPMorgan Chase & Co analyst Ryan Brinkman's pessimistic estimate, "confirming the unprecedented brand damage we had earlier feared", he said in a report on April 4.
The sales report "causes us to think that — if anything — we may have underestimated the degree of consumer reaction", Mr Brinkman wrote.
Tesla shares fell more than 5 per cent before the start of regular trading on April 4. The stock has slumped 44 per cent since hitting a record high on Dec 17, 2024.
Tesla delivered 336,681 vehicles in the first three months of 2025, its worst quarterly total since 2022.
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