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What's Driving Tesla's Woes?

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As Tesla faces a global sales slump, and with shares down for the seventh consecutive week, could Elon Musk's antics really be to blame?
The article from WIRED discusses the multifaceted challenges Tesla is currently facing. It highlights Tesla's significant stock price drop, which has been influenced by Elon Musk's controversial acquisition of Twitter, now known as X, and his subsequent management decisions which have led to concerns about his focus on Tesla. Additionally, Tesla is grappling with increased competition in the electric vehicle (EV) market, particularly from Chinese manufacturers like BYD, which has surpassed Tesla in EV sales in China. The company also faces production issues, including factory shutdowns due to supply chain disruptions and a recall of over 360,000 vehicles due to issues with its Full Self-Driving (FSD) software. Moreover, Tesla's pricing strategy has been erratic, with price cuts that have upset existing customers and potentially devalued the brand. These factors, combined with broader economic conditions like rising interest rates, have contributed to Tesla's woes, raising questions about its future market position and growth.

Read the Full Wired Article at:
[ https://www.wired.com/story/whats-driving-teslas-woes/ ]