tech

4/2/25

Deutsche Bank: Weaker-than-expected US sales responsible for Tesla miss

Many analysts knew Tesla’s delivery numbers today were going to be bad, but they were much worse than expected. Tesla delivered 50,000 fewer vehicles than it had in the first quarter last year, missing consensus estimates by Bloomberg, FactSet, and Tesla itself.

The reason for the massive miss? US sales, Deutsche Bank said in an analyst note following the deliveries report.

“Geographically, we had already factored in a very weak performance from Europe, therefore, US likely led to the downside; China appears about in-line looking at March data,” the analysts wrote.

Monthly sales data had shown that in the first two months of 2025, sales were roughly flat in the US, Tesla’s main market, while they fell in Europe and China. That must have taken a turn for the worse in March, when in response to CEO Elon Musk’s actions at DOGE, protestors picketed at hundreds of Tesla locations around the country and Tesla owners rushed to sell their vehicles.

Despite the bad sales numbers, Tesla stock is up 5% on news that Musk may be leaving the White House and spending more time at Tesla.

More Tech

President Trump hosts tech executives and their guests to a dinner at the White House in the Oval Office.

Here are the Trump ties among the tech leaders who had dinner at the White House

Many of the attendees have donated to, vocally supported, or even worked for the president.

tech

10h

Tesla’s EV market share declined to 38% in August

In August, Tesla’s share of the US EV market fell to 38%, according to new data from Cox Automotive reported by Reuters. Tesla’s market share fell below 50% for the first time last year, as competitors’ EVs began hitting the market. Now, as Tesla’s own sales slip more drastically than they had last year, it’s giving up even more ground. Tesla’s market share fell from 48.7% in June to 42% in July to 38% in August, according to Reuters. That slide has come even as buyers rushing to take advantage of the federal tax credit that ends this month provide a near-term boon for sales at Tesla and other EV makers.

11h

OpenAI now expects to burn around $115 billion through 2029 — a full $80 billion higher than the company had previously estimated, The Information reports.

Just how much is that? It’s roughly equivalent to:

Fortunately for OpenAI, which is raising money at a $500 billion valuation, its revenue is also growing faster than expected. The ChatGPT maker now expects to make $13 billion in revenue this year and $200 billion in 2030.

An annotated photo of who attended the tech dinner at the White House.

An interactive who's-who of the tech execs at Trump's White House dinner

The White House invited a gaggle of top founders and tech executives for an intimate dinner at the White House.

Jon Keegan9/5/25

Apple of my Eye

Apple’s latest phone is betting on looks, while Google looks inward

Apple gets a hardware upgrade. Google gets a software overhaul.

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