Tesla Slumping 40% Since January, Despite CEO Musk's Robotaxi Plan

1st Gear: Chaos at Tesla

Tesla's sales are slumping, CEO Elon Musk is making bizarre product decisions, the Cybertruck is falling apart, prices are being cut, and 10 percent of the staff has been laid off.
On Tuesday, the Austin, Texas-based automaker is expected to report a 40 percent dive in operating profit and its first revenue decline in four years (since the pandemic).
Despite all this, Musk is still staking the company’s future on his so-called Robotaxi rather than a cheaper offering.

Tesla has once again cut the prices of some of its vehicles in the U.S., Europe, and China.
The automaker also cut the price of its Full Self-Driving program by a third to just $8,000 in the U.S.
Tesla's website says that customers will receive a 30-day trial of FSD with a new vehicle purchase. The currently enabled features “require active driver supervision and do not make the vehicle autonomous,” according to the company.

Tesla's new vehicle registrations fell 25 percent in February compared to a year earlier, according to S&P Global Mobility.
The last time Tesla’s U.S. vehicle registrations suffered a monthly decline was in August of 2020, but that was just a two percent drop.
Analysts have been warning for months that EV growth was cooling as mainstream buyers balked at elevated sticker prices and worried about driving range and charging infrastructure.

Workers at Volkswagen’s Chattanooga, Tennessee plant have voted to join the United Auto Workers union.
It’s the first automaker to join the union outside of the Big Three domestic automakers.
The landslide win will make the Chattanooga factory the first auto plant in the South to unionize via election since the 1940s and the first foreign-owned auto plant in the South to do so.