What’s the Plan Elon?

It’s time for Elon Musk to share his turnaround plans.

Tesla (NASDAQ: TSLA) stock is down 38% YTD…

Suffering from lower EV sales, price cuts, and a decline in profits.

Tesla plans to eliminate 14,000 jobs and cut its workforce by 10%.

Elon says that the company must cut costs and increase productivity.

Tesla reported its quarterly deliveries that fell short of expectations in early April.

Total deliveries were 387,000 EVs. That was down 8% over the last year.

Tesla blames this on high interest rates that make auto financing more expensive.

However, the bigger issue is that demand for EVs is falling in the U.S. and China.

The company is in a tough spot today.

Tesla’s existing Model Y and Model 3 are no longer new or fresh. They’re viewed as outdated – and expensive. Meanwhile, the Cyber Truck is a niche vehicle with production issue.

Investors are anxiously waiting to see what’s next.

Tesla has been working on a new sub-$25,000 EV called the Model 2. However, recent reports from Reuters suggest that the project may be canceled or delayed.

The company is apparently focusing on an AI powered self-driving initiatives.

This includes the upcoming unveiling of the Robotaxi on August 8.

Next week Tesla will report quarterly earnings on April 23.

It’s time for Elon to take control and start acting like a CEO. He must convince investors that he as a compelling plan for returning Tesla to a period of sustained growth.

Ian