From Yahoo Finance: 2025-04-02 11:31:00

In Berlin, Germany, a Tesla car dealership was vandalized by activists belonging to the group New Generation. This act comes as Tesla’s sales in Europe have taken a hit. Tesla delivered over 336,000 electric vehicles in the first quarter of 2025, falling short of Wall Street’s expectations. This marks Tesla’s worst sales performance since 2022, with a 13% decline from the previous year. The company’s stock fell by almost 5% initially but recovered slightly. Analysts had lowered their forecasts for sales due to protests and slumping international sales. Additionally, Tesla’s push to replace the Model Y impacted production.

The company’s poor sales were influenced by domestic protests and acts of vandalism against Tesla facilities and vehicles. On the other hand, conservatives have shown support for Tesla and Elon Musk, with promises to treat vandals as domestic terrorists. However, some investors believe political involvement may negatively impact Tesla’s brand and appeal. The impact of politics on Tesla’s sales will likely be a focus during the upcoming earnings call. Tesla has expressed concerns about new tariffs on vehicles and vehicle parts, anticipating an impact on their business and profitability.

Rivian, a fellow EV truck maker, reported a 36% year-over-year decline in sales. The company sold 8,864 units and produced 14,611 vehicles, above analysts’ expectations. Rivian’s CFO has warned of lower sales due to soft demand. CEO RJ Scaringe highlighted the significant impact of tariffs on the company’s decision-making throughout 2025. A Tesla dealership in Berlin was vandalized by activists, with the brand’s sales in Europe taking a hit. Rivian CEO Scaringe believes more EV options are needed for growth, citing the importance of both Tesla and legacy automakers. Analysts see an opportunity for Rivian to step up as a leader in the industry amidst the current Tesla controversy, with a buy rating and $23 price target. Stay updated on the latest news by following Quartz on Facebook, Twitter, and Instagram.



Read more at Yahoo Finance: Tesla just reported its worst quarterly sales in years as Elon Musk courts controversy