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Musk's embrace of right-wing politics risks turning off car buyers and sinking Tesla's stock (apnews.com)

submitted 4 months ago by alyaza@beehaw.org to c/news@beehaw.org

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Tesla sales plunged 45% in Europe in January, according to research firm Jato Dynamics, even as overall electric vehicle sales rose. That comes after a report of falling sales in California, its biggest U.S. market, and the first annual drop globally for the company last year.

“I don’t even want to drive it,” said Model 3 owner John Parnell, a Democrat from Ross, California, adding that he also is cancelling his order for the company’s Cybertruck, losing a $100 deposit. “He’s destroying the brand with his politics.”

The sales numbers were particularly bad in Germany and France in January, down roughly 60% each, more than the average decline for the more than two-dozen European countries surveyed. Sales in France fell another 26% in February.

More worrisome was the breakdown for Tesla’s individual models. Sales of Tesla’s Model 3 dropped 33% across all European countries even though that car is not being updated and there is no reason for buyers to wait

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[–] jarfil@beehaw.org 6 points 4 months ago* (last edited 4 months ago)

That wouldn't protect him. Only 25% of world gold production has a practical use, the rest is turned into jewelry and bullion at a speculative value. Buying some is also not that straightforward, most is sold as an IOU, with the physical stuff remaining in the original owner's vault.

We live in a world where fiat/credit rules everything; the moment trust is lost, there is no difference between Tesla shares, Zimbabwean dollars, $Trump, USD... or bullion IOUs.

For reference:

President Donald Trump signed an executive order supporting digital assets and vowed to create a national stockpile of cryptocurrency

PS: this is also another step towards Network States.