ENCINITAS, Calif. (FOX 5/KUSI) -- The years of Tesla’s autopilot profits have come to a screeching halt with the latest Tesla sales numbers down 35% this February compared to February 2024 in San Diego County.
“If there is a negative change in preferences then a demand for a product goes down
,” said Professor Alan Gin, Associate Professor of Economics at the University of San Diego.
With Tesla’s stock price falling from $479 to $248, investors are worried, and protesters are upping the pressure.
“We are just trying to call attention to the harm he is doing to everyday people,” said Michele Cyr, President of Demco, a progressive activist organization.
Protesters from the Democratic group say they have been out in front of the Tesla dealership every Thursday protesting the Department of Government Efficiency’s firings of federal workers.
“DOGE to be dismantled, we want Musk fired because he is an unelected billionaire and we want the power of the purse delivered back to Congress,” Cyr said.
Tesla has declined to comment on the protests.
Kevin Hamilton says his Model 3 is the best car he’s ever owned, even if he is on guard.
“Setting cars and charging stations on fire, that’s definitely in the back of my head, but I really haven’t encountered anything like that around here,” Hamilton said.
According to Edmunds, Tesla trade-ins are also on the rise. Gin says that might mean downward pressure on prices.
“I think the trade-in value of the Tesla is going to drop and that will have some impact in terms of the new price,” Gin said. ...read more read less
