Tesla’s actions suffer their worst streak in the stock market since Donald Trump decreed on April 2 the badly called reciprocal tariffs. The decrease, 12% in two days (3.5% on Wednesday and an additional 8.5% this Thursday), arrives just after the company’s head, Elon Musk, said that the fiscal law promoted by Republicans in Congress with the support of Donald Trump Trump himself seems to have begun to lose his patience with him. The fear of investors is that the richest man in the scitled world now to Trump’s followers.
“I am very disappointed with Elon,” Trump said Thursday at the White House. “I have helped him a lot. I knew the ins and outs of the bill better than anyone here. He had no problem with him. Suddenly, he had a problem,” he added, in reference to the suppression of incentives to electric cars and the relaxation of polluting cars emissions. “Elon and I had an excellent relationship,” Trump said. “Now I’m not so sure of that,” he added.
Musk, on the other hand, continued attacking the bill from his social network X: “Without me, Trump would have lost the elections. The Democrats would control the House of Representatives and the Republicans would be 51-49 in the Senate,” said the main financier of the Republican campaign to the presidency.
His proximity to the president, his role as inspiring of the cuts and layoffs of the Department of Government Effectiveness (Doge), his support for parties of the European ultra -right and the constant bulos that diffuse in his social network X caused numerous protests in front of their concessionaires in the United States and other countries, some of them violent.
And the increase in competition were the key factors for the company’s sales to fall 13% in the first quarter. The billionaire itself in several European countries, the fall in sales has continued.
In general, Democratic voters are more favorable to the electric car and the less republicans, but at the time of Trump’s supporters and detractors can get expensive to the company. The bag in the bag of these two days is a loss of value of about 120,000 million dollars. In the accumulated of the year, the shares fall 24.5%.
Tesla billed 19,335 million dollars between January and March, 9% less than a year earlier, and (about 358 million euros at the current exchange rate). When presenting the results, Musk said the words that shareholders wanted to hear. “I think that probably from next month, May, my time dedicated to Doge will be reduced significantly,” “from next month, I will dedicate much more time to Tesla,” he added. Tesla’s actions reacted up with the news that involved a Musk departure from politics.
The multimillionaire of South African origin said goodbye last week in an act with good words in the White House. The next day, President friend, client and ally of Musk, to which the billionaire, and maximum leading donor of the president’s campaign, had expressly recommended.
That decision of Trump did not sit well with the billionaire, who previously, in, had already shown his disappointment with the tax bill. “Frankly, I have disappointed to see the huge public spending, which increases the budget deficit, instead of reducing it, and undermines the work that the Doge team is doing [Departamento de Eficacia Gubernamental, que estuvo encabezado por el empresario]”Musk said then.
This Tuesday, however, it went much further. “I’m sorry, but I can’t take it anymore. This bill of Congress, huge, scandalous and full of superfluous expenses, is a disgusting abomination. What shame for those who have voted it: they know they have done wrong. They know it,”
This Wednesday, Trump has tweeted through his social network, Truth, without commenting, Elon Musk’s farewell tweet of his governmental tasks, in which he thanked the president.
Meanwhile, Musk has continued to attack the bill from his social network, in which he has 220.2 million followers and an algorithm that gives special visibility to his messages. “This expense bill contains the greatest increase in debt roof in the history of the United States! It is the law of slavery for debt,”
“Call your senator, call your congressman, it’s not right to ruin the United States! Kill the bill!”
At the same time, it has been retweeting messages contrary to the initiative. With Musk’s approach to Trump, the big question is how much two egos of their size would be able to maintain the harmony they showed. Not even four months have passed since the Republican returned to the White House. For now, yes, both have avoided direct personal attacks.
Tesla will publish at the beginning of July the evolution of the second quarter sales. The company has ceased to be the world leader by number of units of electric cars sold, surpassed by the China Byd.
