The world's richest man and the CEO of Tesla, Elon Musk, is not having the best of times, to say the least. A few months after Tesla's stocks went through the roof due to Musk's close ties with then-president-elect Donald Trump, the same is now backfiring on both him and his businesses.
CREDIT: REUTERS
As Tesla cars and showrooms have become the target of anti-Musk and anti-DOGE protesters, investors are also calling for accountability. One of the most notable voices has been longtime Tesla investor Ross Gerber, who recently called for Musk to step down as CEO.
On Friday, as Tesla was ordered by the National Highway Traffic Safety Administration (NHTSA) to recall almost all the Cybertrucks the EV maker has sold in the US since November 2023, Gerber, whose Gerber Kawasaki Wealth Management holds 262,352 Tesla shares, once again made his displeasure over the direction the company is heading clear.
CREDIT: REUTERS
"Tesla has sold only 47k Cybertrucks total according to the recall notice," he said in a post on X. Gerber pointed out that this was way shorter than the sales target Tesla had set for itself.
"This is really bad for a product that was supposed to sell 250k units a year," he said.
Tesla has sold only 47k Cybertrucks total according to the recall notice. This is really bad for a product that was supposed to sell 250k units a year. $tsla
— Ross Gerber (@GerberKawasaki) March 20, 2025
Cybertruck recall
Tesla was asked to recall all Cybertrucks for a free repair due to a stainless steel exterior trim panel detaching from the vehicle, causing a potential road hazard and raising the chances of a crash. Tesla has also halted deliveries of new Cybertrucks as a result.
The mass recall is more bad news for Cybertruck and Tesla in general, whose once-loved EVs are fast falling out of favour with both vehicle owners and even Musk fans due to the CEO's politics.
Tesla needs new CEOEarlier this week, Gerber, whose portfolios hold nearly $60 million in Tesla stock, had called on Musk to step down as CEO as he was busy with his DOGE commitments.
"There's no question [Musk] has been committed to his job at the government, that's where he's spending his time. He is not running Tesla. I think Tesla needs a new CEO. The business has been neglected for too long," Gerber told Sky News.
CREDIT: REUTERS
On social media too, Gerber has not shied away from criticising Tesla, including reposting an X post which implied that the upcoming Tesla robotaxi is not real.
Earlier this month, Gerber had blamed the issues Tesla was facing in US and around the world on Musk's politics.
"People want to buy stuff that makes them feel good, you don't want politics involved. It's even worse when you have such divisive issues, whether it’s firing climate scientists or taking aid away from starving African children," he said.
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