--- title: "JPMorgan Says Tesla’s Outlook Is Grim" description: "America's biggest bank is sounding the alarm on Tesla's historic value loss under unelected government official Elon Musk." date: "2025-03-13" modified: "2025-03-13" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/jpmorgan-tesla-grim-outlook" categories: - "Advanced Transport" - "Tesla" tags: - "elon musk" - "jpmorgan" - "sales" - "tesla" --- # JPMorgan Says Tesla’s Outlook Is Grim ![America's biggest bank is sounding the alarm on Tesla's historic value loss under unelected government official Elon Musk.]() *\Image: Mandel Ngan / AFP via Getty / Futurism\* America's [biggest bank]() is sounding the alarm on Tesla's historic value loss under Elon Musk. As [*Forbes* reports](), JPMorgan said in a new note to clients that it's never seen anything quite like the massive value plummet at Tesla, which [lost $127 billion in a single day]() this week as its CEO's politics become more toxic by the day. "We struggle to think of anything analogous in the history of the automotive industry," JPMorgan analysts wrote, "in which a brand has lost so much value so quickly." Led by automotive analyst Ryan Brinkman, the note updated the bank's forecast for first-quarter Tesla deliveries from 444,000 to 355,000 — a 20 percent drop that reflects the [hundreds of billions of dollars]() Musk's electric vehicle company has lost in just a few months. Driving the new analysis is the "acute" effect the boisterous CEO has had on the carmaker as he takes on a "more divisive new role in government" — which is financespeak, essentially, that Musk's politicking is [utterly destroying Tesla](). "Mr. Musk's work with the Department of Government Efficiency has proven controversial domestically," Brinkman observed, [per *Business Insider*'s write-up](), and "while as many members of the political right may be pleased as those on the left are displeased, the effect on Tesla sales seems nevertheless negative." Brinkman also noted that Musk's company "appears to have the most to lose" from the "shifting regulatory backdrop" occurring under Donald Trump's administration — an ironic reminder that this president is [quite hostile to EV]()s despite [purchasing a Tesla]() in support of his subordinate this week. In Europe, the analysts wrote, things are even more dire. Between [Musk's love affair with Vladimir Putin]() and subsequent [alienation of Ukraine](), his [anti-NATO posturing](), and of course his support for "[far-right political parties]()" — Brinkman's words, not ours – Tesla's [new vehicle registrations in January]() were down 50 percent from the same period in 2024. Though there have been other massive value drops for Japanese and Korean car companies over "diplomatic disputes" with China, the analysts suggested that things are worse for Tesla because it's an international company that's "not specific to any one nation or geography," [*BI* wrote]() of the JPMorgan note. Notably, this analysis comes after [Morgan Stanley suggested]() that Tesla shares are still worth buying and could rebound up to 90 percent, highlighting the [shifting goalposts]() placed upon the Musk-owned company by its boosters. Then again, maybe it's not exactly a surprise that JPMorgan specifically is bearish on Tesla given that it was, [until recently](), suing the company over some stocks it sold to the institution a decade prior. **More on Tesla:** [*One of Tesla's Biggest Supporters Is Running Out of Patience*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()