Elon Musk has been too busy playing internet politician, leaving his electric vehicle company, Tesla to run on autopilot — and buddy, it’s veering into the weeds.
Tesla’s 2024 sales have taken a nosedive, failing to match its already lackluster performance from 2023. Despite desperate attempts to lure buyers with discounts and free charging, Musk’s empire is showing signs of weakness. The car company barely eked out a 2.3% global sales increase in Q4, which wasn’t nearly enough to make up for the sluggish first half of the year. In total, Tesla delivered 1.79 million vehicles in 2024, a 1.1% drop from 2023’s 1.81 million. The last-minute holiday rush? Not enough to save the year. This, despite the EV market growing faster than Elon’s ego.
Tesla’s mainstays, the Model 3 and Model Y, haven’t seen significant updates in half a decade, leaving customers looking elsewhere for their electric thrills. According to Brian Maas over at CNCDA, who chatted with Fortune, people might just be bored. And with Hyundai’s Ioniq 5 scooting past Tesla’s Model X in California, it’s clear the newbies are turning heads and making Tesla fans rethink their loyalties. Hyundai has upended Tesla’s dominance by claiming the third spot in California’s EV sales. Meanwhile, Toyota’s BEV registrations have skyrocketed by a jaw-dropping 108.1% this year, while Ford has seen impressive gains of 26.4%.
In a move that smacks of desperation, Musk unveiled the latest iteration of Tesla’s Optimus robot back in October, perhaps hoping to dazzle investors and the public back into his corner. However, this robotic gambit may be too little too late for those already questioning the innovation stagnancy at Tesla, especially when its creator is too busy being a troll to actually run the company. Musk’s erratic tweets and political schmoozing — not to mention his alleged side hustle as a ghostwriter for his own fan club via burner accounts — might just be alienating more customers than they captivate.
With the tech tycoon often mirroring Trump’s own tumultuous style — both boasting a curious collection of personal and financial dramas — it’s a spectacle hard to ignore. In fact, there’s more than just a passing resemblance here. Everywhere Trump parks his golf cart, there’s Musk, polishing the clubs. The president-elect meets with foreign bigwigs? Musk’s there, probably trying to slip Mars colonization brochures into their briefcases. Trump dines with the top brass from corporate America? Musk is there too, buttering up the bread and maybe the guests. Interviews for a spot in the incoming administration? Heck, Musk might as well be handing out name tags and brewing the coffee.
As Trump’s niece, Mary L. Trump, pointedly mentioned, these two dynamos don’t just share a love for the spotlight. Between them, they’ve collected “17 children with 6 different women.” Maybe — maybe — Musk’s new BFF status with the Big Cheeto will pay off in the end. Having a sugar daddy in the White House could benefit Tesla, what with all the backroom deals with government contracts and tax breaks. If you can’t beat ’em, join ’em and hope for some sweet, sweet government handouts.
