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    Tesla U.S. Sales Plunge as G.M. and Others Make Gains

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    Tesla’s sales in the United States fell almost 9 percent in the first three months of the year even as the overall market for electric vehicles grew, according to data compiled by a research firm.Car buyers are moving away from Teslas and toward models like General Motors’ Chevrolet Equinox electric vehicle, which starts at around $35,000 and can travel more than 300 miles on a charge, Cox Automotive, the research firm, said in a report.Sales of all electric vehicles in the United States rose 11 percent during the first quarter to about 300,000 cars and light trucks, Cox said, much faster than the overall auto market, which has been flat. About 8 percent of new domestic car sales were electric, Cox said, a slight increase from 2024.“Despite many obstacles — and what you may read elsewhere — electric vehicle sales continue to grow at a healthy pace in the U.S. market,” the firm said.Tesla, whose chief executive is Elon Musk, still sells far more electric cars in the United States than any other automaker, accounting for 44 percent of the market, according to Cox. But its share has fallen from 51 percent a year earlier.The decline in Tesla’s U.S. sales mirror a global slump. The company said this month that deliveries during the quarter in all markets fell 13 percent to 337,000 vehicles.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Xiaomi Driverless Technology in Focus After Fatal Electric Car Crash

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      A popular electric vehicle made by the Chinese consumer electronics giant Xiaomi crashed into a concrete guardrail while deploying its autonomous driving feature. Three people died.China’s Xiaomi, a consumer electronics giant turned automaker, said it is cooperating with a police investigation into a fatal crash involving one of its electric vehicles while the driver was using the car’s autonomous driving features.A Xiaomi SU7 sedan drove into a concrete guardrail on an expressway in eastern China late on Saturday night at around 60 miles per hour, according to a post on Xiaomi’s official social media account. On Tuesday, local media published reports about the collision and ensuing fire, which killed three college students, along with pictures of the charred remains of the vehicle.Xiaomi said the driver deployed the company’s Navigate On Autopilot, an assisted driving feature, while going around 70 miles per hour on the expressway. The car was traveling at that speed when it reached a roadblock, because a portion of the road was under repair with traffic diverted into a different lane.Seconds before the collision, the car warned that there were obstacles ahead and started to decelerate but it was too late. The company said it called the police and emergency services.The fatal crash took place one year after the launch of Xiaomi’s SU7 electric vehicle, marking a major shift for a company that had gained a cultlike following for its smartphones and home appliances. And the SU7, which bears a resemblance to the Porsche Taycan at a fraction of the price, has been a breakthrough success in China’s cutthroat electric vehicle market. It sold more than 200,000 units in its first year.The ability of a company with no automotive experience to build and sell a car capable of gaining market share so quickly is a testament to the advantages of China’s supply chain of batteries and key components for electric vehicles. It is also a warning to the automotive industry that the competition is no longer limited to traditional car brands, but to almost any company adept at manufacturing electronic products efficiently and inexpensively.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Mining Company Seeks Trump Support to Shortcut Access to Seabed Metals

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      Mining companies and the Trump administration want the metals to boost manufacturing. Environmentalists and some countries worry industrial mining would harm oceans.The long-running battle over whether to allow Pacific Ocean seabed mining took an unexpected turn Thursday when a company disclosed it had been confidentially negotiating a plan with the Trump administration to circumvent a United Nations treaty and perhaps obtain authorization from the United States to start mining in international waters.The proposal, which drew immediate protests from environmental groups and diplomats from some countries, represents a radical shift in the contentious debate over accessing deposits on the sea floor that contain copper, cobalt, manganese and other metals that are needed for electric-car batteries.The International Seabed Authority, established 30 years ago by an agreement now ratified by more than 160 nations, has jurisdiction over seabed mining in international waters, outside the coastal areas of each nation.The Seabed Authority has been slowly crafting regulations governing mining, which remains highly contentious because the potential effects of industrial activity on marine life are unknown.Now the Trump administration, which has already expressed its desire to retake the Panama Canal and assume control of Greenland, is being nudged by the Vancouver-based Metals Company to disregard the Seabed Authority and grant it a license to start mining as soon as 2027.Gerard Barron, the chief executive at the Metals Company, announced the maneuver Thursday after it became clear that it could still be years before the Seabed Authority finalizes mining regulations.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      A Musk Lawsuit in Wisconsin Is the Backdrop to the State’s Supreme Court Race

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      A legal battle over Tesla sales in Wisconsin is the quiet backdrop to a big State Supreme Court race.I was driving from Eau Claire, Wis., to Minneapolis last week when I saw the sign.A Tesla sign.Soon after I crossed the St. Croix River, which divides Wisconsin and Minnesota, a brick-and-steel tower visible from Interstate 94 advertised the Tesla store and service center in Lake Elmo, Minn.The dealership’s proximity to the state line is probably no accident: Wisconsin law prohibits vehicle manufacturers from selling cars directly to customers there, the way Tesla usually does. Instead, companies need to work through local franchisees — think Hank’s Ford or Jimmy’s Subaru, that sort of thing.This means that, in Wisconsin, you can’t actually stroll into a dealership and leave with a Tesla. You can look at one — the company has showrooms in Madison and Milwaukee — but if you want one, you’ll generally have to buy it online and pick it up somewhere like Lake Elmo or Northern Illinois, or have it delivered.Tesla sued Wisconsin over this law in January. Now, Tesla’s owner, Elon Musk, is spending big money on the state’s Supreme Court race.The lawsuit has become a major focus for Democrats, who are accusing Musk of trying to buy a justice and swing the very court that might at some point consider his lawsuit. My colleagues Reid Epstein, who writes about national politics, and Neal Boudette, who covers the auto industry, teamed up to explore the relationship between the lawsuit and Musk’s $20 million investment — so far — in the judicial election, which will be held on April 1.The politics of Tesla’s fight with Wisconsin are, like so much involving Musk, kind of topsy-turvy. It pits car dealers, who tend to be Republican, against Musk supporters, who these days also tend to be Republican.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Why Elon Musk and Tesla Have a Legal Bone to Pick With Wisconsin

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      As the billionaire and his allied groups pour more than $20 million into a race for the state’s top court, his car company is suing Wisconsin over a law restricting vehicle sales.Elon Musk is far and away the biggest spender in this year’s race for the Wisconsin Supreme Court, throwing his fortune behind a conservative candidate aiming to topple the court’s 4-to-3 liberal majority.The deluge of cash — $20 million and counting from Mr. Musk and groups tied to him — comes as his electric car company, Tesla, is suing Wisconsin over its law prohibiting vehicle manufacturers from selling cars directly to consumers. The law requires a franchisee to act as a middleman.Tesla filed the lawsuit in January, days before Mr. Musk began spending on the race. He has not publicly mentioned the litigation, but for weeks it has served as a backdrop of the April 1 election. The case is now before a court in Milwaukee County, but it could proceed to the Wisconsin Supreme Court in the coming months.The conservative candidate, Brad Schimel, a Waukesha County judge who has declined to discuss the Tesla case, appeared with Mr. Musk on a social media livestream on Saturday and drew President Trump’s endorsement late last week. He faces Susan Crawford, a liberal Dane County judge backed by Wisconsin Democrats.Since Mr. Musk began spending to help Judge Schimel, Judge Crawford and Wisconsin Democrats have built their public messaging around the idea that she is in a battle with the billionaire leading Mr. Trump’s destruction of the federal government.“It is no coincidence that Elon Musk started spending that money within days of Tesla filing a lawsuit in Wisconsin,” Judge Crawford said during a televised debate this month.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Why Trump’s Tesla Showcase Mattered to Elon Musk

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      A lot has changed since former President Joseph R. Biden Jr. snubbed Elon Musk at an event in 2021.It wasn’t so long ago that Elon Musk couldn’t even get an invitation to the White House.The year was 2021, and President Joe Biden was announcing tighter pollution rules and promoting his electric vehicle policies.Behind him on the lawn were gleaming examples — a Ford F-150 Lightning, a Chevrolet Bolt EV, a Jeep Wrangler — as well as the chief executives of the companies that made them. But the nation’s biggest electric vehicle producer was nowhere to be seen.“Seems odd that Tesla wasn’t invited,” Musk tweeted before the event.The Biden White House explained the snub by noting that the automakers that had been invited were the nation’s three largest employers of the United Automobile Workers, a powerful union, and it suggested that the administration would find other ways to partner with Tesla. (Union animus toward electric vehicles later became a problem for Biden.) But today, the moment is seen as a turning point in a feud between Musk and Biden that some Democrats say they have come to regret deeply.“They left Elon out,” said Mike Murphy, a Republican strategist who is working to get his party to embrace electric vehicles, “and now he hates ’em.”It was hard not to think about that episode yesterday when Musk and Trump lined up Teslas, including Cybertrucks, on the White House driveway and proceeded to rattle off their benefits like denizens of a suburban showroom.“I love the product,” Trump said.“Try it,” Musk said. “You’ll like it!”Musk now has the White House attention and promotion that he wanted several years ago — and with it, a pile of potential benefits for some of his companies — but it’s come at a price. He donated some $300 million largely through his own super PAC to help Trump get elected. My colleagues Theodore Schleifer and Maggie Haberman reported yesterday that he’s signaled a willingness to put another $100 million into groups controlled by Trump’s political operation.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Musk’s Tweet-Fueled Bubble May Be About to Burst

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      Elon Musk’s business empire may be starting to wobble.Over the past six weeks, the value of Tesla’s shares has plunged about 40 percent, wiping out virtually all they had gained after the 2024 election. This reversal reveals Mr. Musk’s soft underbelly: His fortune depends heavily on the inflated expectations of his rabid following. As those expectations deflate so will his power, demonstrating that financial markets are an underappreciated guardrail against both Mr. Musk’s and President Trump’s agendas.It is tempting to compare Mr. Musk to the true business titans of the past quarter century such as Apple’s Steve Jobs, Microsoft’s Bill Gates, Amazon’s Jeff Bezos, Meta’s Mark Zuckerberg, Nvidia’s Jensen Huang, and Google’s Larry Page and Sergey Brin. But those individuals created genuinely huge businesses that eclipse anything Mr. Musk has built by any possible metric. While Mr. Musk has built a car company from the ground up — no easy feat — his wealth is largely thanks to a financial cult, one in which legions of dazzled investor-followers have enabled him to launch an ever-growing list of disparate initiatives and provided immunity from critics who question his operational decision-making, his corporate governance, his obscene pay packages, and now his migration into the political sphere.The high-wire act goes something like this: Dream up a business so ambitious that any setback is trivial and every accomplishment heroic. Identify yourself as the manic genius behind this ambitious business in order to personally capitalize on outsize returns from excited investors. Enlist social media to cement your iconic status, keeping your believers so enthusiastic that their fervor beats back any skeptics who dare to bet against your ventures, even as you pitch more and more fantastical ideas. At this point you hit the flywheel: Other investors, searching for outsize returns, flock to the shares of your other companies, pushing their valuations ever higher, thus fortifying your wealth and burnishing your reputation as a business mastermind.If you’re lucky, this happens when investors are dreaming of alternatives to the poor returns available when interest rates are ridiculously low; magical thinking about the power of technology suppresses any worry about the risks of problems down the line; and retail markets are turning stock trading into something more akin to online gambling.Understanding this cult requires one to rethink what one knows about finance. Financial purists like to think of financial markets as neutral arbiters that merely record the value-creating activities of entrepreneurs. Financial pragmatists understand that prices need not always reflect value, as behavioral finance has demonstrated. But what if entrepreneurs can capitalize on these dynamics to manufacture fortunes and political power?This trick is precisely what Mr. Musk has mastered. His messianic status, which was birthed in the explosion of social media, created a powerful cycle of outsize returns on ventures that lead to investors providing him with more and cheaper capital to diversify his empire that, in turn, attracts yet more investors fearful of missing out. Skyrocketing Tesla shares have made fans and investors so devoted that all he has to do is mention a new ambition to goad them into buying even more. And the larger the stated ambition, the more wealth and power they hand him. So why not try for Mars? The final step in this process is to consolidate power in the political sphere to ensure that the outsize ambitions can be nourished forever. If Mr. Musk had played it well, his empire may have been impregnable.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Rage Against Elon Musk Turns Tesla Into a Target

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      Tesla charging stations were set ablaze near Boston on Monday. Shots were fired at a Tesla dealership in Oregon after midnight on Thursday. Arrests were made at a nonviolent protest at a Tesla dealership in Lower Manhattan on Saturday.The electric car company Tesla increasingly found itself in police blotters across the country this week, more than seven weeks after President Trump’s second inauguration swept Tesla’s chief executive, Elon Musk, into the administration as a senior adviser to the president.Mr. Musk, 53, is drawing increasing backlash for his sweeping cuts to federal agencies, a result of the newly formed cost-cutting initiative Mr. Musk has labeled the Department of Government Efficiency.During a demonstration on Saturday at a gleaming Tesla showroom in the West Village neighborhood of Manhattan, protesters joined in chants of “Nobody voted for Elon Musk” and “Oligarchs out, democracy in.” One held a sign saying, “Send Musk to Mars Now!!” (Mr. Musk also owns SpaceX.)Shots were fired at the Tesla dealership in Tigard, Ore., this week.Tigard Police DepartmentSeveral hundred protesters remained there for two hours, organizers said, blocking entrances and shutting down the dealership.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Officials Are Fired at Traffic Safety Agency Investigating Musk’s Company

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      The National Highway Traffic Safety Administration has raised questions about crashes involving Tesla’s self-driving technology.The federal agency responsible for traffic safety, which has been investigating whether self-driving technology in Tesla vehicles played a role in the death of a pedestrian, will fire a “modest” number of employees, an agency spokesman said late Friday.The agency did not say whether any of the fired employees were involved in investigations of Tesla, whose chief executive, Elon Musk, is leading the Department of Government Efficiency established by President Trump.The efficiency department has been forcing layoffs at numerous government agencies as part of an effort to reshape the federal bureaucracy. Mr. Musk has retained control of Tesla while spending much of his time in Washington.The National Highway Traffic Safety Administration has three active investigations of Tesla, according to agency documents, including one examining whether the company’s autonomous driving software is prone to failure when visibility is poor.The layoffs at the traffic safety agency, which has less than 1,000 employees, were reported earlier by The Washington Post. Even after the layoffs, the agency continues to employ more people than at the beginning of the Biden administration, the agency said in a statement.“The last administration grew NHTSA by a whopping 30 percent,” the agency said in a statement.“We have retained positions critical to the mission of saving lives, preventing injuries, and reducing economic costs due to road traffic crashes,” the agency said. “We will continue to enforce the law on all manufacturers of motor vehicles and equipment.”Tesla did not respond to a request for comment.One of the traffic safety agency’s investigations into Tesla is based on four accidents involving technology that the carmaker calls supervised full self-driving.James Stukenberg for The New York TimesOne of the investigations into Tesla is based on four accidents involving technology that the carmaker calls supervised full self-driving, which can steer, brake and navigate Tesla cars in some situations. In one of the crashes, a Tesla struck and killed a pedestrian, according to agency documents. In another of the accidents, a person was injured.Tesla’s self-driving technology relies on cameras to survey a car’s surroundings, in contrast with competitors like Waymo, a unit of the same company as Google, that also uses lasers and radar to recognize objects.The traffic safety agency has been looking into whether Tesla’s technology failed when visibility was poor because of glare from the sun, fog or dust.Mr. Musk has often argued that Tesla self-driving technology is safer than human drivers.The technology is also crucial to Tesla’s future and share price. As Tesla sales have flagged, falling 1 percent last year even as the global market for electric vehicles rose 25 percent, Mr. Musk has shifted the company’s focus to autonomous driving technology and plans for a self-driving taxi.The technology will help make Tesla the most valuable company in the world by far, Mr. Musk told investors last month. More