Tesla Daily News June 2, 2025

Tesla is facing significant challenges, including declining sales in Europe, internal project cancellations, and external pressures from investors and activists.

Declining European Sales Amidst Rising Competition

In May 2025, Tesla's car sales in Spain and Portugal experienced substantial year-on-year declines of 29% and 68%, respectively. This downturn is attributed to intensified competition from European and Chinese manufacturers, a limited model range, and potential backlash against CEO Elon Musk's political affiliations. Notably, Chinese brands like BYD, MG, and Omoda saw dramatic sales increases of 745%, 87%, and 213% in Spain over the same period. (reuters.com)

Cancellation of Affordable EV Project Raises Concerns

Tesla executives were reportedly concerned after Elon Musk publicly denied the cancellation of the anticipated $25,000 electric vehicle, often referred to as the Model 2. Internal sources confirmed the project's abandonment in favor of developing robotaxis. This decision has led to uncertainty among investors and potential legal scrutiny from the Securities and Exchange Commission (SEC) for possible misrepresentation. (reuters.com)

Investor Pressure on CEO's Commitment

A coalition of 12 major pension fund investors, managing approximately $950 billion in assets, has called on Elon Musk to dedicate at least 40 hours per week to Tesla. The group expressed concerns over Musk's multiple commitments and the resulting leadership challenges at Tesla. They are advocating for governance reforms, including a more active board and a clear CEO succession plan. (ft.com)

Vandalism and Protests Targeting Tesla

Beginning in early 2025, there has been an increase in incidents of vandalism targeting Tesla vehicles, dealerships, and charging stations. These actions are part of a larger wave of protests against Elon Musk and the Department of Government Efficiency (DOGE). The Federal Bureau of Investigation (FBI) has labeled the vandalism as domestic terrorism, and President Donald Trump has suggested severe penalties for the perpetrators. (en.wikipedia.org)

Testing of Driverless Model Y Cars in Austin

Elon Musk announced that Tesla is testing driverless Model Y cars in Austin, Texas, with plans to deliver the first unit in June, ahead of schedule. This development comes amid decreasing global Tesla sales and increased competition. While the initial tests have reportedly occurred without incidents, a detailed timeline for the full rollout has not been provided. (reuters.com)

Stock Performance

As of June 3, 2025, Tesla's stock (TSLA) is trading at $342.69, down $3.74 (-1.08%) from the previous close. The day's trading range has been between $333.40 and $347.98, with a volume of 81,873,829 shares.

Stock market information for Tesla Inc (TSLA)

• Tesla Inc is a equity in the USA market.

• The price is 342.69 USD currently with a change of -3.74 USD (-0.01%) from the previous close.

• The latest open price was 343.83 USD and the intraday volume is 81873829.

• The intraday high is 347.98 USD and the intraday low is 333.4 USD.

• The latest trade time is Monday, June 2, 17:15:00 PDT.

These developments highlight the multifaceted challenges Tesla is currently navigating, from internal strategic shifts to external market pressures and public sentiment.