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 to ride its autonomous vehicle service in Austin, Texas.
The service rollout has been fairly smooth. If the metric for success is “no crashes,” mission accomplished: There have been no public reports of crashes or fender-benders involving the robotaxis. The select few riders who have been allowed inside them have praised the service online, which for now costs just $4.20 a ride. (The price seems to be a weed joke.)
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