'Biggest hit ever': Staggering amount Tesla lost during day of fighting revealed

Sarah K. Burris
June 5, 2025 

RAW STORY


FILE PHOTO: A Tesla Cybertruck is parked on a local Tesla dealer in Paramus, New Jersey, U.S., July 23, 2024. REUTERS/Eduardo Munoz/File Photo

CNBC is reporting that amid the feud between President Donald Trump and Tesla CEO Elon Musk, the electric vehicle company lost its largest market cap of all time.

Raw Story reported after the close of the stock market on Thursday, Tesla stock rallied a little after falling 17.5% to close at over 14%. That translates into a significant financial loss for the company.

"The move dropped the EV maker $152 billion in value, putting it below the $1 trillion benchmark and settling Thursday at $916 billion," said the report.

In a press conference with the German chancellor on Thursday afternoon, Trump alleged that Musk was likely furious that the 2026 budget bill didn't have credits for EVs like Tesla. Musk has been posting about the bill, alleging it adds too much to the deficit. The CBO scored that it would add $2.4 trillion.

“Whatever,” Musk clapped back on X during the press conference.

The ongoing battle between the two men continued from there, with Trump threatening to pull all of Musk's federal contracts.

Tesla had a successful month in May, reclaiming 22% of losses despite low sales, the report continued.

Read the full report here.

EVs boost German auto sales, Tesla falls again


By AFP
June 4, 2025


Registrations of BYD cars jumped more than 800 percent from a year earlier, to nearly 1,860 vehicles, although the Chinese EV giant is just beginning to make inroads in Germany - Copyright AFP Nikolay DOYCHINOV

A jump in electric car sales helped give a slight boost to Germany’s troubled auto market last month, official data showed Wednesday, although Elon Musk’s Tesla fared poorly again.

A total of 239,297 new vehicles were registered in May in Europe’s top car market, 1.2 percent more than the same month last year, the KBA federal transport authority said.

The number of electric vehicles (EVs) registered jumped 45 percent, as the segment continues a tentative recovery following a downturn last year triggered by the removal of government subsidies.

This offset declines for petrol and diesel vehicle sales.

But electric car maker Tesla, which has suffered across Europe due to anger that Musk played a role as a key advisor to US President Donald Trump, saw its sales slide again, this time by 36 percent.

The US billionaire has faced particular hostility in Germany for backing the far-right Alternative for Germany (AfD) before February’s general election.

Musk left his role as an advisor to Trump last week, although it is not yet clear what impact this could have on Tesla’s fortunes.

Registrations of BYD cars jumped more than 800 percent from a year earlier, to nearly 1,860 vehicles, although the Chinese EV giant is just beginning to make inroads in Germany.

EY analyst Constantin Gall said many EV manufacturers had “significantly reduced the price difference between combustion engines and comparable electric vehicles, and are also offering very attractive financing or leasing conditions for electric cars”.

The German auto market has performed weakly in recent years, and is still about 28 percent below pre-pandemic levels, according to EY.

“The market is moving sideways and not advancing — neither in Germany nor in Europe,” said Gall.