US carmaker Tesla struggles to course correct from sales skid

TESLA Chief Executive Officer Elon Musk has spent much of this year focused on the carmaker’s robotics pursuits and winning shareholder approval for his freshly minted $-trillion pay package.

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In the meantime, the outlook for Tesla’s main business — selling cars — is darkening.Tesla faces sales pressure in the world’s three biggest car markets: Europe, China and the United States. The electric-vehicle (EV) maker's sales fell 48.5% across Europe in October versus the same month last year, according to data released by the European Automobile Manufacturers’ Association on Tuesday. For the year, its sales are down about 30% in the region, while industrywide EV sales jumped 26%.

Tesla’s global vehicle deliveries are expected to decline 7% this year, according to Visible Alpha, after a 1% drop in 2024. That is despite record third-quarter deliveries, which were juiced by American car buyers racing to beat the Sept. 30 expiration of an EV tax credit.