Wednesday started with grim sales numbers from electric automaker Tesla and ended with new U.S. tariffs that are likely to raise prices for America’s electric vehicles.
Together, the two developments created a bittersweet moment for Tesla’s competitors. Their EV sales rose as Tesla’s fell, but at the same time, tariffs will soon force higher prices, hard choices and fewer customers ready to buy.
Tesla on Wednesday reported that its first-quarter U.S. sales dropped by almost 13 percent, the company’s worst results in nearly three years.
Just as markets were digesting that information, POLITICO broke the news that Elon Musk may soon leave the government, turning a drop in the company’s stock into a rise. The stock gained 5 percent on the day — a sign that a retreat in CEO Musk’s political activity could outweigh bad financial news.
