Tesla shares drop on reports of another high profile departure
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The news: Tesla shares fell 1.3% to USD312.70 after The Wall Street Journal reported that Troy Jones, the company’s vice president of sales, service and delivery in North America, had left the company after 15 years.
The context: His reported departure follows other high-profile exits recently, including Omead Afshar, a top aide to CEO Elon Musk who was promoted to oversee all of sales and manufacturing operations in North America and Europe, and Jenna Ferrua, Tesla’s director of human resources for North America.
The exits come amid a 13% drop in US vehicle sales in the first half of 2025, as Tesla faces a slowdown in EV demand, increased competition and pressure on its brand stemming from Elon Musk’s stint in politics. Deliveries of Tesla’s Cybertruck in the second quarter have fallen by 51%, according to Cox Automotive.
Tesla’s Autopilot system is also in the spotlight, with the company facing multiple lawsuits and investigations, including a trial that started this week in Miami.
Meanwhile, Tesla launched its Model Y in India at about USD70,000, opening its first showroom in Mumbai with plans of another in Delhi. Tesla has opted to sell imported vehicles instead of producing locally, due to high tariffs, according to Reuters.
The sources: The Wall Street Journal, Associated Press, Reuters
