...American products facing boycott, first cab off the rank is Tesla; Tesla rode to success owing largely to the Elon cult personality now faces a reversal of fortune- because Elon wants to stick his fingers into places and public domain with full on controversy.
The Tesla car sales (or lack thereof) situation is getting interesting. "Tesla's (TSLA) sales in China fell 11.5% on a year-over-year basis in the month of January, while Chinese competitor BYD sales surged an annualized 47%, according to data from the China Passenger Car Association released on Friday.
The data also showed deliveries of Tesla's Model 3 and Model Y vehicles made in China fell 32.6% from December." That's with extended 0% financing plans and price cuts.
Meanwhile, over in Europe, Tesla's January car sales in France plummeted 63% year-over-year, in Germany sales plunged 60% and in Norway they were down 38%. Tesla U.K. sales in January fell 8%.
Haven't seen U.S. numbers for January yet, but electrek reported this week that Tesla's January sales in California, by far the biggest EV market in the U.S., "dropped by double digits" (percents). With approximately 80% of EV buyers in the U.S. being registered Democrats, the "Elon Effect" may be an issue.
I''m guessing Tesla's Canadian sales in January haven't been so hot either. Tesla is one of the Mag 7 stocks and has a tremendous cult following, but if sales keep declining - now at an accelerated pace - and margins contract, the bro's willing to pay 185 times earnings might start to think otherwise. In a declining market liquidity environment in 2025, Optimus hype might no longer be enough to keep this Mag 7's stock's grossly bloated valuation aloft for much longer.
