Tesla (TSLA) CEO Elon Musk has reportedly dismissed Omead Afshar, the executive who oversaw the EV company’s operations in North America and Europe. According to sources cited by Forbes, this was due to Tesla’s underperformance and declining popularity in key markets. Afshar, who started at Tesla as an engineer in 2011 and rose to become one of Musk’s closest advisors, is said to have been held responsible for weak sales results, particularly in Europe.
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It is no secret that Tesla is facing significant challenges overseas. In fact, the company’s electric vehicle sales in Europe have declined for five straight months after falling 28% in May compared to the previous year. According to the European Automobile Manufacturers Association, Tesla’s vehicle registrations dropped by 40.5% in May, bringing its market share down to 0.9% from 1.6% a year earlier. Year-to-date, Tesla holds just 1.1% of the European market, which is down from 2% last year, despite an overall rise in EV demand across the continent.
Looking ahead, Tesla is preparing to release its Q2 delivery numbers, with analysts estimating that global deliveries reached about 392,800 vehicles. That would represent an 11% drop from the same period last year but a 17% improvement from Q1 2025. Meanwhile, Tesla’s stock was hovering near the flatline at the time of writing and faces the possibility of closing in the red for a third straight day.
What Is the Prediction for Tesla Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 14 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $287 per share implies 12.3% downside risk.
