Elon Musk says Tesla is already back

Investing.com -- Tesla’s infamous CEO says the EV giant is already in recovery mode. “Yes, we’ve lost some sales… [but] the sales numbers at this point are strong,” said Elon Musk, who now juggles roles as head of the Department of Government Efficiency (DOGE), advisor to U.S. President Donald Trump, and chief executive of multiple major companies, including the lately-volatile carmaker.

Investors seemed to take him at his word. Tesla Inc (NASDAQ: TSLA) shares rose 1% in Tuesday’s trading.

In recent months, Tesla’s stock has swung wildly as markets struggle to decide whether Musk is a liability or an asset. The company soared to record highs earlier this year on speculation that the new Trump administration might direct federal support toward electric vehicles.

But enthusiasm faded just as quickly. As Musk’s political commentary grew louder, and more controversial, many liberal Tesla owners recoiled, sales slowed, and some investors questioned whether Musk’s focus had shifted from building cars to building influence in Washington.

Tesla sales have been particularly weak in Europe, where April figures showed a “very significant decline,” Musk admitted. “Europe is our weakest market,” he said, attributing the slump to “many factors,” including external shocks like tariffs and broader EV demand softness.

Still, Musk downplayed the long-term risk. “It’s already turned around… the stock wouldn’t be trading near all-time highs if it was not,” he said, arguing that financial markets are already pricing in an operational rebound.

When asked about his commitment to the company amid growing responsibilities in Washington, Musk dismissed doubts. “Yes, no doubt about that,” he said, affirming he would remain CEO of Tesla for at least the next five years.

He also brushed off concerns surrounding his contested $56 billion pay package, struck down by a Delaware judge earlier this year, claiming: “The activist who is cosplaying a judge in a Halloween costume… has no bearing on my commitment to Tesla.” Instead, Musk said what matters is maintaining control: “My commitment to Tesla… is about sufficient voting control such that I cannot be asked [to leave] by activist investors.”

For now, Musk insists that Tesla is back on track, even if Europe remains a soft spot and critics remain loud. Whether investors continue to buy the comeback story may depend less on policy or product, and more on how much attention the CEO can spare from Washington.

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