Whether due to consumer backlash or an aging EV lineup, or both, Tesla sales have again seen a global plunge, this time 13 percent last quarter compared to the previous year—proof that the electric automaker hasn’t yet turned around a dismal year that saw public opinion of controversial CEO Elon Musk plummet. It could mean Tesla faces a second straight year of falling sales.
And yet: Tesla is still the world’s most valuable automaker by market capitalization, worth some $990 billion. At least some of that market confidence is likely traced to the happenings of June 22, when Tesla finally began allowing paying passengers
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