Tesla's awful 2024 is getting much worse

Company Overview - Tesla is experiencing significant challenges, including a 10% workforce reduction and the resignation of a major executive after 18 years, amid concerns over declining delivery numbers [5][6] - The company's stock has fallen over 35% in 2024, reversing much of the gains made in 2023, while its competitors continue to perform well [6][7] Market Position - Despite recent setbacks, Tesla has managed to increase its market share in the US electric vehicle market to 51.3%, outperforming all competitors [8] - The demand for electric vehicles (EVs) in the US is slowing, and competition from China is intensifying, posing challenges for Tesla's growth [7][8] Future Prospects - Elon Musk has announced plans to unveil robotaxis in August, which are expected to require improvements to Tesla's Full Self-Driving software [6] - The company has a history of bouncing back from volatility, having previously recovered from a 65% drop in share price during 2022 [7]