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Tesla is under pressure as its stock continues to decline, down 41% this year, amid public backlash against Elon Musk's political ties. Competitors like Hyundai and BYD are capitalizing on this instability, reporting significant sales growth in electric vehicles, while Tesla's dominance appears to be waning. Upcoming delivery numbers are expected to reveal the full impact of Musk's political involvement on the company's performance.
Elon Musk has warned that President Trump's newly announced 25% tariffs on imported vehicles will significantly impact Tesla due to its reliance on foreign-made parts. While Tesla assembles cars in the U.S., many components are sourced internationally, leading to increased costs. The tariffs, effective April 3, aim to protect American jobs but have raised concerns among key trading partners and could destabilize the global auto market.
Trump's tariff threats have unsettled Europe's auto industry, but Ferrari remains largely unaffected, as it produces exclusively in Italy and can pass on potential tariff costs to its affluent customers. Analysts believe that even significant tariffs would not deter demand for Ferrari's luxury vehicles, contrasting with the challenges faced by competitors like Porsche, which may struggle to absorb higher costs.
Rella Suskin
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Tesla faces mounting pressure as rivals capitalize on brand instability
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