In This Article:
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter.
Dive Brief:
-
Tesla CFO Vaibhav Taneja sold shares of the electric vehicle maker with an aggregate market value of $957,720, according to a Monday securities filing, with the sale coming several days after the company posted vehicle delivery results for its first quarter of 2025 which came in below expectations.
-
The transaction represents the third stock sale by the CFO in as many months. Taneja sold $1.7 million worth of Tesla stock in March and offloaded $2.8 million worth of shares in February, CFO Dive previously reported. Taneja’s latest stock transaction comes as EV maker continues to see waning sales amid an ongoing consumer backlash against Tesla and CEO Elon Musk, growing competition from other global automakers, and uncertainty surrounding potential tariffs.
-
In Q1 2025 — which many expect is likely to be the Austin, Texas-based company’s worst quarter since 2022 — Tesla delivered 336,681 total vehicles, according to an April 2 update, a 13% decline from deliveries in the prior year period. The company is expected to report its full Q1 results on April 22.
Dive Insight:
Tesla executives including Board Chair Robyn Denholm and board member Kimbal Musk, the brother of CEO Elon Musk, have also sold millions in stock in recent months, following a Delaware judgment which required the two executives, among others, to pay back a collective $919 million in compensation to Tesla, CFO Dive reported.
The stock sales by company executives are occurring as Tesla faces ongoing challenges, with its latest slump in vehicle deliveries part of an ongoing nosedive in global sales. In Europe, backlash against CEO Elon Musk’s U.S. political activities contributed to sales of its EVs plummeting by just over 40% in February compared to the prior year, according to March data from the European Automotive Manufacturers’ Association. Tesla has also seen sales in China slump, though the launch of its Model Y in the market enabled it to climb into third place for sales in March, The Wall Street Journal reported, citing data from the China Passenger Car Association.
Meanwhile, Tesla’s declining sales represent growing opportunities for the EV maker’s competitors, many of which saw their sales grow over the past month. Global sales of Volkswagen AG’s EV models, for example, climbed by 59% year-over-year, the German automaker said Wednesday — skyrocketing by 113% in Europe and 51% in the U.S., according to the release.