Elon Musk doubles down on commitment to Tesla
Elon Musk has declared that he’ll only step down from his position as Tesla CEO within the next five years if he dies. When asked at the Qatar Economic Forum on Tuesday whether he had any doubt about his future leadership status at Tesla, Musk said he had no doubts before adding as a qualifier: “I might die.” Earlier this month, Tesla’s chair, Robyn Denholm, denied that the company was seeking a new CEO. Musk also claimed during his interview that Tesla’s declining sales picture had “already turned around,” despite Tesla’s deliveries during Q1 2025 being the company’s lowest since Q2 2022.
Musk brushes off weak Europe sales numbers
The interviewer, journalist Mishal Husain, highlighted how Tesla sales have recently been weak in Europe, to which Musk replied: “Europe is our weakest market. We’re strong everywhere else.” Tesla sales have dropped nearly 40% in Europe since the start of the year, with sales falling over 46% in April. That same month, sales of Tesla’s Model Y, the world’s best-selling car in 2024, dropped 51%. Musk added that European sales declines were “true of all manufacturers.” According to JATO Dynamics’ data for 28 European nations, new car registrations remained stable in Europe. April saw 1,078,521 new cars registered, 1,399 more units than in 2024. Electric vehicles bolstered new vehicle registrations, while ICE vehicles significantly declined. In April, Chinese brand BYD, which makes hybrids and battery electric vehicles (BEVs), registered more BEVs in Europe than Tesla for the first time.
“Our sales are doing well at this point. We don’t anticipate any meaningful sales shortfall. Obviously, the stock market recognizes that since we’re now back over a trillion dollars in market cap,” Musk said. However, Husain emphasized how she referred to sales numbers instead of stock value. In a recent interview with Autoblog, YouTube mechanic sensation Scotty Kilmer spoke about Tesla stock value: “Value to him [Elon Musk] is stock market value. Stock market value isn’t real value. It’s pumped-up stuff. It used to be that the stock market was an investment. It isn’t anymore. It’s just outright riverboat gambling. His [Elon Musk] stock can go up billions of dollars or go down billions of dollars with whatever he says.”
Tesla continues to refuse to release its sales figures by country until the end of the quarter, with a report on Q2 sales expected during the first week of July. Still, many countries report monthly new vehicle registrations, allowing those outside of Tesla to gain clarity on the company’s standing.
Final thoughts
Sales results released by Tesla for Q2 in July will be the final determiner of whether Musk’s claim of a “major rebound in demand” from customers is accurate, and if so, by what degree. Tesla stock is up over 50% in a little over a month since Musk decided to reduce his time spent in Washington in favor of the automaker, signaling investor confidence since past instances have proven Musk’s dedication as worthwhile. The Model 3’s production ramp-up from 2017 to 2018 is recognized as one of Tesla’s most significant crises. Still, Musk led the company through it without stepping down from his executive roles at SpaceX and The Boring Company, highlighting his ability to bounce back with the cards down and while wearing multiple hats.
