Tag: tesla
Musk's Extremism Driving Tesla Finances Into 'A Disaster On Every Metric'

Musk's Extremism Driving Tesla Finances Into 'A Disaster On Every Metric'

Elon Musk, the world’s wealthiest man and a terrible parent, was handed another loss on Wednesday, after his electric vehicle company Tesla released its first quarter sales report. The news wasn’t good. The EV maker reported its lowest quarter sales since 2022, well below the modest predictions analysts had forecasted.

Tesla shares fluctuated, beginning Wednesday with a six percent drop, before rebounding, possibly due to talk that Musk would be leaving his Department of Government Efficiency. And even Tesla cheerleaders, like Wedbush Securities analyst Dan Ives, were having a hard time turning this lemon into lemonade, as he expressed on X.

Musk’s latest setback comes just a week after reports that Tesla’s sales in Europe had dropped 40 percent in February, even as Europe’s EV market was enjoying an upswing in sales. Tesla’s losses in Europe can be partly attributed to Musk’s full-throated support of Germany’s far-right, neo-Nazi-affiliated Alternative for Germany party.

“In addition to Elon Musk’s increasingly active role in politics and the increased competition it is facing within the EV market, the brand is phasing out the existing version of the Model Y—its best-selling vehicle,” Felipe Munoz, global analyst at Jato Dynamics told the Financial Times.

Tesla’s brand has taken hits on top of Musk’s embrace of right-wing extremism. Nearly all of Tesla’s Cybertrucks were recalled in March due to issues stemming from the glue used to hold the stainless steel facade detaching, creating possible dangerous road hazards.

While Tesla faces increased competition in the market, the biggest problem the company faces is Musk’s politics and personality. Musk and DOGE’s unconstitutional attack on government agencies has cost tens of thousands of Americans their jobs and threatened their economic security.

His damage control efforts have been pathetic, undermined by his continued attacks on democracy, such as his unsuccessful yet transparent attempt to buy the Wisconsin Supreme Court election.

The Trump administration has clearly been ordered to cravenly prop up the billionaire’s nosediving reputation. But promising to throw people in jail if they protest against Tesla, holding an informercial in front of the White House, and having the entire Trump administration hawk Tesla stock during their television appearances has clearly not been the recipe for success they hoped for.

And now, Musk’s toxicity has become so great that even Donald Trump’s most loyal parasites are trying to find the right way to distance the GOP leader from his top donor. Whether or not Trump and friends can quit Musk’s hundreds of billions of dollars remains to be seen.

Reprinted with permission from Daily Kos.

'Insanity': At Pentagon, Musk Will Gain Access To Top-Secret US War Plans

'Insanity': At Pentagon, Musk Will Gain Access To Top-Secret US War Plans

South African centibillionaire Elon Musk — one of President Donald Trump's closest advisors — is now reportedly scheduled to receive a top-secret briefing involving the United States' top-secret plans in the event the nation goes to war with China.

The New York Times reported Thursday evening that the Tesla and SpaceX CEO will be visiting the Pentagon on Friday to get "access to some of the nation’s most closely guarded military secrets." Those war plans are detailed in "20 to 30 slides" that reveal exactly how the U.S. would plan to fight a war against the world's most populous nation and second-largest economy. The Times Julian E. Barnes, Maggie Haberman, Eric Lipton, Ryan Mac and Eric Schmitt noted that the briefing comes despite Musk having "extensive financial interests in China."

"If a foreign country was to learn how the United States planned to fight a war against them, it could reinforce its defenses and address its weaknesses, making the plans far less likely to succeed," the reporters wrote.

Some Musk critics expressed worry that China has significant leverage over the centibillionaire. Progressive activist Murshed Zaheed opined that the Times' reporting included "bats--- crazy" details about Musk's potential conflicts of interest toward the end of the report. In the final five paragraphs of the article, the Times reported that the Tesla factory in Shanghai — which was "built with special permission from the Chinese government" — is responsible for "more than half of Tesla's global deliveries." Tesla also has a $2.8 billion loan agreement with Chinese lenders "for production expenditures."

Consultant Matt Ortega pointed out that Chinese President Xi Jinping could simply tell Musk to "provide us with the U.S. war plan or we will close your Shanghai factory." Journalist Radley Balko exclaimed that Musk getting access to Chinese war plans was "insanity." Former FBI counterterrorism official Frank Figliuzzi called Musk getting the war plans a "clear and present danger." And author and journalist Tim Weiner reminded his followers that Vivek Ramaswamy — who co-founded the Department of Government Efficiency (DOGE) with Musk — once said in 2023 that the tech billionaire would "jump like a circus monkey when Xi Jinping calls in the hour of need."

"If you give the war plans to Musk, you might as well give them to China," Weiner wrote on Bluesky.

Defense Department spokesperson Sean Parnell implied to the Times that Musk's visit was merely casual, saying: "The Defense Department is excited to welcome Elon Musk to the Pentagon on Friday. He was invited by Secretary Hegseth and is just visiting."

Reprinted with permission from Alternet.

Free Fall: Tesla Recalls Nearly Every Cybertruck As Exterior Panels Pop Off

Free Fall: Tesla Recalls Nearly Every Cybertruck As Exterior Panels Pop Off

Tesla’s downward trajectory took another hit on Thursday, after it was reported that over 46,000 Cybertrucks—almost all of them—are being recalled. The issue stems from the glue holding the stainless steel paneling to the Cybertruck’s exterior possibly detaching, creating a dangerous road hazard.

The recall feels almost symbolic of everything world’s richest man Elon Musk and his Department of Government Efficiency represents to Americans these days. Vehicles under the recall include all 2024 and 2025 vehicles produced, as well as some from the end of 2023. That is nearly all of the Cybertrucks that have been delivered to customers. This is the eighth recall of Cybertrucks in just over a year.

Donald Trump’s Commerce Secretary Howard Lutnick spent Wednesday night with Fox News’ Jesse Watters, imploring people to buy Tesla stock.

“If you want to learn something on this show tonight, buy Tesla,” Lutnick told Watters’ viewers. “It’ll never be this cheap again.”

It was yet another example of the Trump administration’s efforts to boost sales of co-president Musk’s struggling business. In the last two weeks Trump has crassly hawked cars in front of the White House, Attorney General Pam Bondi has threatened to imprison those who protest Tesla, and MAGA conspiracy theory minions have said that peaceful opposition to Musk and his companies amounts to domestic terrorism.

Lutnick’s latest appearance didn’t do much for Tesla as the stock dropped at the open of the day.

Since December, Tesla has lost nearly 49 percent of its market cap. Clearly desperate, the carmaker has been sending out tone-deaf surveys to frustrated customers and offering big discounts to existing customers in an attempt to get them upgraded to new models.

Musk went on Fox News’ Hannity on Tuesday night, to get almost weepy about how much of an angel he is and how he is being persecuted.

“Tesla is a peaceful company; we've never done anything harmful. I've never done anything harmful, I've only done productive things. So, I think we just have a deranged ... there's some kind of mental illness thing going on here because this doesn't make any sense.

Meanwhile, Tesla sales have reached new lows worldwide, and even prominent investors are “trimming” their holdings in the company to reduce their exposure to Musk’s general turpitude. This includes Tesla board members like Musk’s brother, Kimbal; Rupert Murdoch’s son James; and board chair Robyn Denholm, who reportedly sold off $75 million in shares over the past five weeks.

Trump’s GOP flunkies in Congress remain too terrified of a Musk-funded primary to protect their angry constituents from the dismantling of our government. But their cowardice won’t change the fact that the American public and the courts do not approve of what Musk and DOGE are doing to our country, and they are furious about it.

Reprinted with permission from Daily Kos.

Musk Vows Again To Slash Social Security By '$500 Billion' Per Year

Musk Vows Again To Slash Social Security By '$500 Billion' Per Year

Tesla and SpaceX CEO Elon Musk is now openly declaring his plan to slash hundreds of billions of dollars from earned benefits programs like Social Security and Medicare.

During a recent appearance on Fox Business, Musk told host Larry Kudlow that he remains committed to his goal of enacting steep cuts to Americans' retirement income and health insurance. He noted that "most federal spending is entitlements," which is a catch-all used to describe mandatory spending obligations like Social Security, Medicare and veterans' benefits.

"That's the big one to eliminate," Musk said. "That's, sort of, half trillion, six or seven hundred billion a year."

He also asserted without evidence that Democrats were enticing "illegal immigrants" to come across the border "by essentially paying them" Social Security money in exchange for their votes. This claim has been debunked, with Portland, Oregon NBC affiliate KGW reporting that "undocumented immigrants are not eligible for Social Security and Medicare benefits." The Social Security Administration (SSA) has stated that while some immigrants can receive benefits, they must prove a "lawful presence."

"This is why the Democrats are so upset about the situation," Musk said. "If we turn off this giant money magnet for illegal immigrants, then they will leave. And they will lose voters."

In response to Musk's comments, Alex Lawson — who is executive director of the advocacy group Social Security Works — slammed the South African centibillionaire's efforts to "destroy" Social Security. He added that if the tech magnate followed through on his promise, he would experience the "ferocity" of the American public.

"Our Social Security system is the opposite of everything Elon Musk is. It embodies the best of American values. It rewards hard work, playing by the rules, and delaying gratification," Lawson told AlterNet. "At its core, it is an intergenerational promise of empathy and understanding that we all do better when we all do better."

Musk's comments to Kudlow come just weeks after the CEO's address to the Conservative Political Action Conference. In February, Musk argued to NewsMax host Rob Schmitt, who interviewed him onstage, that Social Security was rife with hundreds of billions of dollars in "waste." He suggested that he may cut Social Security by roughly $500 billion per year.

"People ask how can you find waste in D.C., it's like being in a room and the wall, the roof and the floors are all targets," Musk said. "You can shoot in any direction. You can't miss."

President Donald Trump has empowered the world's richest man to cut spending across the board at multiple federal agencies as part of his Department of Government Efficiency, or DOGE. When DOGE representatives went to the SSA, however, Michelle King —the Trump-appointed acting commissioner of the agency — was effectively forced out of her role when she refused to hand over sensitive data to DOGE employees. King was replaced by Leland Dudek, who the Washington Post reported had heaped praise on DOGE on his social media channels.

Elon Musk reiterated his intention to destroy programs like Social Security, which he has called a Ponzi scheme: "Most of the federal spending is entitlements... that’s the big one to eliminate."

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— More Perfect Union (@moreperfectunion.bsky.social) March 10, 2025 at 9:05 PM

Reprinted with permission from Alternet.

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