Tesla has had a tough year in 2024. There have been layoffs, sales are down, and things are looking uncertain. Some are even questioning if Elon Musk might leave the company.
A Twitter thread by Zero Sum Bond talked about Tesla’s troubles. While not everything in the thread was accurate, it highlighted some issues Tesla faces.
Many top people have left Tesla recently, like Daniel Ho and Rebecca Tinucci. Even the head of HR, Allie Arebalo, left. Some, like Renjie Zhu, who was in charge of making the Cybertruck, left for reasons we don’t know.
What’s interesting is that some who left Tesla are selling their shares. Even people who are still at Tesla, like Tom Zhu, are selling shares. This might show that even top people at Tesla are losing confidence.
Tesla laid off part of its Supercharger team but then rehired them soon after. This shows disorganization at the top.
Tesla’s value in the stock market doesn’t match its actual business performance. It missed revenue and earnings targets for several quarters. Competition from other carmakers is getting tougher.
Tesla’s cars are also getting older. Except for the new Cybertruck, Tesla sells some of the oldest new cars. This makes it harder to compete with other carmakers who update their models more often.
Unlike traditional carmakers, Tesla can’t hide its problems by forcing dealers to take more cars. Tesla also faces legal issues over its driver assist software, like Full Self-Driving and Autopilot.
Elon Musk believes Tesla’s future lies in self-driving cars like the robotaxi. But some doubt if Tesla can deliver on this promise.
Tesla used to be seen as a cutting-edge company, but now people are questioning if it can keep up. Its value in the stock market might not reflect its true situation.
