Tesla's stock took a big hit on April 10, erasing the previous day's gains, which were the biggest since 2013. According to CNBC, the company's shares fell 7.3% to close at $252.40.

  • Since the beginning of the year, the stock has dropped by 38%, which is the highest percentage among major tech companies. This happened after Tesla's shares jumped 23% on April 9, following US President Donald Trump's announcement that he would suspend tariff increases for most countries for 90 days to allow for negotiations.
  • The euphoria was short-lived, however, as the decision did not apply to China, and the White House later clarified that tariffs on Chinese goods would rise to 145%. In response, Beijing imposed an 125% tariff on imports from the United States.
  • Following the situatino, Tesla stopped accepting new orders for the Model S and Model X on its Chinese website and WeChat app. Both models are manufactured in the United States and imported into China. The company did not provide an official explanation for the decision.

At the same time, Tesla announced the launch of a new version of the Cybertruck Long Range in the United States at a price of $69,990. This long-awaited model has become the most affordable of the three variants on the US market.

Currently, the four-wheel drive version costs $79,990 and the Cyberbeast costs $99,990.

Declining sales in Europe, increased competition in the electric vehicle market, protests against Tesla, and public scandals involving CEO Elon Musk are among the reasons for the stock's decline. 

Experts predict further volatility for Tesla shares amid uncertainty over supply, costs and regulatory pressures in global markets.

Musk tried to convince Trump that tariffs would be detrimental to the US economy, but his efforts failed. The financial consequences were not long in coming. According to Bloomberg, Musk's fortune dropped to $297.8 billion at the time.

At the same time, Tesla's car sales fell 13% in the last quarter to a nearly three-year low. The company faced production disruptions due to the Model Y update and international criticism of CEO Elon Musk.