Elon Musk faces an unprecedented storm. Tesla, her jewel, plumming on the stock market, losing almost half of her capitalization in a few months. Between sales drop, tarnished brand image and political turbulence, the situation worries analysts. According to JPMorgan, this fall is unprecedented in the history of the automotive industry. How did we get there?
Tesla in crisis: a loss of 48 % in a few months
Tesla, already not very brilliant in Europe, is in free fall. In less than six months, the company has seen Its valuation go from $ 1.54 trillion to $ 777 billion. A real crash that is explained by an explosive combination: drop in world sales, strategic uncertainty and controversy around Elon Musk.
JPMorgan says he does not find an equivalent to such a disaster in automotive history.
The figures speak for themselves:
- 49 % drop in market capitalization in six months;
- 355,000 deliveries planned for the first quarter of 202, or 8 % less than in 2024;
- A 45 % drop in new orders in Europe in January.
This commercial disaster is accentuated by a change in perception among consumers. Some Tesla dealerships have even reported customers trying to hide the logo of their vehicle. Jamie Dimon, CEO of JPMorgan, nevertheless wants to be optimistic:
“” You must see Elon as our Einstein. Its innovations are disruptive, but the market requires concrete results. »»
Will Tesla manage to straighten the bar before it is too late?
A ruthless stock market in the face of Musk's strategy
If Tesla plunges on the stock market, it is not only Because of seal sales. Investors increasingly fear the strategic decisions of Musk, accused of dispersing between his various projects, including SpaceX and X. His involvement in the Department of Government Efficiency (DOGE) Under Trump adds a political dimension that disturbs as much as it fascinates.
Analysts point Three major risks ::
- The impact of Musk's political choices on Tesla's perception;
- The likely reduction in tax credits for electric cars;
- Internal management problems due to the dispersion of the CEO.
Some observers wonder if Musk still has control of his empire. Others think that The situation could turn around in its favorespecially thanks to the future launches of the Robotaxi Tesla and the Robot Optimus. Wall Street remains skeptical.
Does the market still give its confidence to Musk, or is it turning the page?
Trump and Tesla: a controversial alliance
L'Shadow of Donald Trump Plane on Tesla. First perceived as an asset, the proximity between Musk and the ex-president becomes a subject of division. JPMorgan analysts note that Musk's commitment to government could harm Tesla more than it helps.
In the United States, Demonstrations have targeted Tesla concessions, while some were vandalized. Trump reacted announcing that The authors would be treated as domestic terrorists.
But economic reality is just as delicate. Tesla could be the first victim of the End of federal subsidies for electric vehiclesa measure strongly supported by Trump. If these aids disappear, Tesla will lose an essential lever to attract new buyers.
Does Trump really want to support Musk or does he just try to strengthen his influence on the automotive industry? One thing is certain: The future of Tesla is so uncertain today that the American political spectrum.
Despite this dizzying fall, Tesla retains an asset: its Bitcoin assets. The company could have maximized its profits if it had kept its BTC, but it still made $ 600 million in gains in the fourth quarter 2024. Proof that, even in the middle of a storm, Musk still knows how to play a few winning shots.
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