Tesla now faces headwinds from the president Musk helped elect. Trump, a frequent EV critic, has called for scrapping EV subsidies and policies that have added billions of dollars to Tesla’s bottom line. Musk has dismissed the impact on Tesla of losing subsidies, saying rivals would suffer more.

The legend of the ‘Tesla killer’ is not a myth anymore. It came true, and it’s not an electric vehicle from a legacy automaker or a new EV startup; it’s Elon Musk, Tesla’s CEO. In the early days of Tesla, the media loved to use the term ‘Tesla killer’ every time a legacy automaker launched a new EV.

This suggests that a reaction from consumers who dislike Mr Musk’s antics are only one reason for falling sales. An updated Model Y, Tesla’s best-selling vehicle, has just gone on sale. In preparation Tesla ran down inventory of the old model, crimping supply. Customers doubtless held off purchases until the new car was available.