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Elon Musk just made public and material lies aimed at Tesla shareholders. Here’s the proof with the relevant transcript.

Now, let’s see if the SEC still has teeth or if the US has fully entered its scam era under the Trump administration.

Today, Musk made false statements aimed at Tesla shareholders and directly addressed the stock price.

Here’s the video, transcript, and relevant information that proves Musk was lying:

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Tesla sales are strong everywhere but Europe

The CEO started the segment by claiming this:

Europe is our weakest market. We are strong everywhere else. Our sales are doing very well at this point. We don’t expect any meaningful sales shortfall.

Tesla’s weakest market is Europe, but sales are not “strong everywhere else.”

We have up-to-date data from China up to last week, and Tesla is having its worst performance in years in the critical EV market:

This is Tesla’s worst quarter start in the last two years based on the insurance registration data. It’s already confirmed that Q1 2025 sales were terrible everywhere, but up-to-date data in Europe and China confirm that Tesla is still struggling in China and Europe.

That’s also despite Tesla offering more incentives and discounts in China than ever. Model 3 and Model Y, representing over 95% of Tesla’s sales in China, are currently offered with 0% financing at Tesla’s cost.

When pressed about Tesla’s sales still being down in Europe, Musk answered:

Yes, that’s true of all manufacturers. There’s no exception. The European market is quite weak.

It’s a bummer that the host didn’t push back on this because it’s a blatant lie.

The European Automobile Manufacturers’ Association (ACEA) released the data a few weeks ago.

In the EU, EFTA, and the UK, Tesla’s sales were down 37% in Q1 2025. It’s true that other automakers were also down, but not “all manufacturers” and certainly plenty of “exceptions”:

As you can see, the Volkswagen Group was up 5% as a whole and the VW brand itself was more than 12% in the first quarter.

Renault and BMW were also up, as was SAIC.

The lie is even more blatant when you only look at the EV market, where Tesla operates. Battery electric car sales surged almost 24% in Europe in the first quarter, while Tesla’s sales dropped 37%.

Now, this was the last quarter. Maybe Musk could get away by claiming the turnaround is happening now or other automakers are now struggling in Q2.

However, this is also not true based on the latest up-to-date data.

Several European markets report daily vehicle registrations and based on this data, Tesla (left) is tracking way behind the same period last year and about the same as its terrible Q1 2025, while VW (right) is currently significantly outperforming right now compared to the last quarter or the same period in 2024:

This is also true of BMW, Ford, Hyundai-Kia, and several other automakers. So Musk’s claim of no exception is not even remotely true.

The stock market confirms Tesla is doing great

Musk used Tesla’s stock price as some sort of proof of what he is claiming:

Obviously, the stock market recognizes that since we are back now at over $1 trillion market cap. Clearly the market is aware of the situation. It’s already turned around.

This is a misleading statement. The stock price is in no way representative of Tesla’s sales. Musk has admitted that in the past. He said that “Tesla was worth nothing” if it didn’t solve self-driving.

The stock is completely disconnected from Tesla’s vehicle business.

More specifically, Musk is also wrong to claim that the market is “aware of the situation.”

Last quarter, Wall Street analysts were trying to track Tesla’s sales, but they missed badly.

For most of the quarter, Wall Street believed Tesla would deliver more than 400,000 vehicles and only started to update their estimates way down toward the second half of the quarter.

Even then, they still ended up overestimating Tesla’s deliveries by 40,000 units.

Therefore, it’s clear that the market is not well “aware” of Tesla’s current sales levels. The same thing is happening in Q2 2025. The current Wall Street consensus is that Tesla will deliver about 420,000 vehicles in Q2 2025 when the best data available show that Tesla is tracking below Q1 2025, when the automaker delivered 336,000 vehicles.

There’s still a month to go in the quarter, but it’s unlikely that Tesla will be able to accelerate deliveries enough to reach over 400,000 units.

Later on in the segment of the interview embedded above, Musk again referenced the stock price:

Again, you can just look at the stock price. If you want the best inside information, the stock market analysts have that and our stock wouldn’t be trading near all-time highs if things weren’t in good shape. They are fine. Don’t worry about it.

Again, we have clear data that show that “stock market analysts” are terrible at tracking Tesla’s sales, and the stock price is in no way representative of a company’s current performance.

It is simply representative of the demand for Tesla’s stock, which Musk himself admits is linked to Tesla’s autonomous driving effort.

Sales numbers are strong, no problem with demand

When pushed back on the demand front, Musk added:

The sales numbers are strong. And we see no problem with demand.

This is another lie. On top of the previously discussed declining sales, it’s worth mentioning that those declines are compared to 2024, a year when Tesla saw its first full-year decline in sales since starting volume vehicle production a decade ago.

In 2024 and now into 2025, Tesla has throttled down its production capacity to about 60% of its overall capacity due to low demand.

Even with fewer vehicles available, Tesla is now offering record discounts and subsidized financing rates at a great cost to the company – clear indicators of demand problems.

Where is the SEC?

These are clear, verifiable, and material lies aimed at Tesla shareholders. It’s a security violation that the SEC should be going after.

This will be a great test of how corrupt federal agencies are under the Trump administration.

The lies are verifiable right now, but I wouldn’t be surprised if they wait until Tesla reports its official deliveries for Q2 2025.

If they are significantly down versus Q2 2024, as expected, it would be easy to prove that Musk was misleading shareholders with these claims today.

What are the odds on the SEC actually going after this or letting it slide?

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Tesla’s ‘more affordable model’ shown in spy shots on Chinese social media

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Tesla's 'more affordable model' shown in spy shots on Chinese social media

The long-promised “more affordable” Tesla model has been spied on Chinese social media, and it’s disappointingly about what we expected: a slightly decontented version of the Model Y.

For many years, Tesla had planned to build a much more affordable vehicle, starting around $25k. This vehicle was nicknamed the “Model 2,” and would have offered the most affordable entry point into the EV market, at least in the West.

But that project was abruptly canceled by Tesla CEO Elon Musk as first reported by Reuters and immediately denied by Musk. Reuters was later shown to be correct in its report, as many who follow Tesla might have expected, given Musk’s constant overpromising (and often outright lies).

In its place, Tesla started offering vague promises about “more affordable models, starting in its Q1 report in April 2024. Tesla later specified that these would enter production in the first half of 2025.

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The language Tesla used suggested that the cheaper vehicles would be “new models,” which means more than one model, and not just based on a current Tesla model. But we reported that this was unlikely to be the case, and that the “new models” would just be a stripped-down Model Y.

That deadline came and went, but on Tesla’s Q2 call last week, it said that “first builds” were produced in June. On the same call, Musk said that the “new affordable model” is… the Model Y.

So, we’ve got confirmation that actual new models aren’t coming – but it does seem like something cheaper is coming down the pipe. And now, from Chinese social media pics of these “first builds,” we know just what kind of decontenting Tesla will do in order to get the cost savings.

Two videos were posted this weekend, on bilibili and weibo. The first was an exterior video by account “极客小猪” (machine translated as “Geek Piglet”). You’ll have to click through if you want to see the whole thing.

It shows the new Model Y as similar in size to the Juniper refreshed model it’s parked next to, though the front and rear are covered by camouflage and it’s hard to tell with perspective of the camera.

As best we can tell from the captions (which isn’t very well), the account seems to think this might be the upcoming larger Model Y L, and the camera perspective in the particular screeenshot above does make it look like the car in the forefront could be slightly longer than the one in the back. But other perspectives show them looking similar in length, and seeing the various missing parts later in the video, we think it’s likely the “more affordable” model.

There are a few holes in the camouflage that give som indication of what might be different, like that the rear light bar from the Juniper might be cut off rather than running across the whole rear of the car. The new one is also missing the “T E S L A” logo across the rear, as can be seen in a little window showing the rear camera.

The video gets a look at the interior of the vehicle, where the seats are covered up. I originally suspected the vehicle might have cloth seats, but the cover seems to have dropped down in the rear, and something leather-like is showing through, so Tesla may still be using its fake leather product to cover the seats.

It also shows that the center console is cut off between the armrest and the screen, using up less material and giving an open space there. This is somewhat similar to the original design of the Model S, which had a large space in front of the center console. We can’t tell from the video if the 2 phone charging mats are still present or not – it looks like the space they’d normally go is there, but the pattern looks different than the current NFC phone chargers.

For another look at the interior, we saw a couple more photos from another Chinese social media account, 42号车库, or “Garage No. 42” on Weibo. These show the steering wheel, front seats, rear and roof a little more clearly. It seems to be of the same car, given the status of the seat covers in the rear.

More changes become apparent here: there is no panoramic glass roof on the car, and the rear screen which was added in the Juniper refresh is once again eliminated. But the turn signal stalk, which was eliminated in the Model 3 Highland refresh and returned in a vestigial manner in the Juniper refresh, is (thankfully) still there.

The balance of these changes suggest that a lot of them are just rollbacks of the content which was added to the cars in the Juniper refresh. Interestingly, though, the Juniper refresh did not increase the price of the car significantly. So, rolling back those changes shouldn’t decrease the price of the car all that much either.

But these just show us some of the interior and exterior changes – the model might have other changes as well. From time to time, Tesla has offered cheaper versions of its vehicles either with rear-wheel drive only, to save on the cost of the front motor, or with a smaller or cheaper (e.g. LFP) battery. The new “affordable” Model Y might incorporate those changes too, and be able to get cost down more because of it, but we’ll have to wait for more information on that.

Further, there’s been no indication of a cheaper Model 3 or any actual “new models” yet. Model 3 is a smaller car than the Model Y, and thus could be cheaper – if Tesla is saving a significant amount of money by cutting a little plastic out of a center console, surely cutting hundreds of pounds of aluminum would save even more. We had expected the “more affordable models” to include both a stripped-down Model 3 and Model Y, but per Musk’s comments on the call, we might only be getting a Model Y.

Electrek’s Take

While it’s nice to see a potential lower base price, all of this is disappointing compared to the actual more affordable model that we could have had, the Model 2, which Musk unwisely canceled, instead putting his attention on becoming the largest funder of anti-EV, anti-environment and anti-American forces, and spending effort on spreading climate change disinformation and white supremacist nonsense rather than focusing on the mission of his company.

Maybe it would be nice to have someone in charge who takes the mission of sustainable transport seriously. Which Musk does not, and has in fact acted against with his recent actions.


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Meet the Honda N-ONE e: A small EV with a big personality

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Meet the Honda N-ONE e: A small EV with a big personality

It may be small in size, but Honda promises the new N-ONE e is fit for a “daily partner” with a flexible interior, ample range to navigate the city, and it can even power up your home..

Honda reveals the new N-ONE e electric car

The N-ONE e is Honda’s second light EV, or “kei car” as they are called in Japan. It’s Honda’s second electric kei car, following the N-VAN e, launched in October 2024.

Although the N-VAN e was mainly for business use, the new N-ONE e is specifically designed as an everyday driver.

Honda said the new EV was “developed in pursuit of the ideal EV” with a unique design, spacious interior layout, and enough driving range for daily travels. The N-ONE e is the electric version of Honda’s retro kei car, the N-ONE, which has been on sale in Japan since 2012.

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It looks about the same as the gas-powered model, but the new EV has a new face with a smoothed-out black grille and two additional charge ports up front.

Honda-N-ONE-e
Honda N-ONE e electric car (Source: Honda)

Honda boasted that the electric city car has “added the cleanliness that only an EV can offer” with smoothed edges and a new rounded bumper design.

The interior, on the other hand, has been completely revamped from the gas model to maximize space. It includes a decent-sized infotainment screen and a push-button gear selector.

Honda-N-ONE-e
Honda N-ONE e electric car (Source: Honda)

There’s also plenty of physical buttons for climate control functions and more. To maximize interior space, Honda kept it simple with smart storage options and flexible seating.

Although Honda has yet to reveal specifics, it did say the N-ONE e has achieved a WLTP cruising range of over 270 km (167 miles).

It will likely share parts with the N-VAN e, hinting at a single electric powertrain with up to 63 hp, the limit for kei cars in Japan.

With Vehicle-to-Home (V2H) capabilities, Honda’s new EV can be used as a mobile power source during a natural disaster or power outage. You can also use it to power electronics, a campsite, a worksite, and more on the go.

Honda is opening advanced reservations for the new electric car on Friday, August 31. It’s scheduled to launch in September, around the same time Honda’s “Super EV” for Europe is set to debut.

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LNG stocks jump after European Union agrees to massive U.S. energy purchases

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LNG stocks jump after European Union agrees to massive U.S. energy purchases

A view of Cheniere’s Sabine Pass LNG facility located in Cameron Parish, Louisiana, as seen from Port Arthur, Texas, on June 23, 2025.

Joel Angel Juarez | Reuters

Shares of liquified natural gas, or LNG, companies jumped Monday after the European Union agreed to purchase $750 billion of energy from the U.S.

LNG exporters Cheniere and Venture Global were up about 3% and more than 4%, respectively. NextDecade and New Fortress Energy, which build LNG infrastructure, jumped more than 2% and about 3%, respectively.

EU President Ursula von der Leyen said the purchases would help reduce the bloc’s dependence on Russia for natural gas.

“Purchases of US energy products will diversify our sources of supply and contribute to Europe’s energy security,” Von der Leyen said in a statement over the weekend. “We will replace Russian gas and oil with significant purchases of US LNG, oil and nuclear fuels.”

The energy purchases are part of a broader trade deal struck between the EU and the U.S. over the weekend. The deal imposes 15% tariffs on EU exports to the U.S. In addition to the energy purchases, Brussels has agreed to invest $600 billion in the U.S. above current levels.

President Donald Trump said “energy is a very important component” of the deal during a meeting with von der Leyen on Sunday.

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