Future Fund LLC's managing director, Gary Black, has shared his thoughts on Omead Afshar's high-profile exit from Tesla Inc. (NASDAQ:TSLA).
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What Happened: "2Q sales are going to suck," the investor said in a post on social media platform X on Thursday.
The investor then outlined that Tesla sales had declined across the board in Q2 2025 as it experienced a "-15% YoY" decline, with Omead was Tesla's vice president in charge of sales and manufacturing in North America and Europe. Black said Q1 2025 deliveries were down 13% YoY.
"Elon likely doesn't accept that at least some of the 2Q sales weakness in the U.S./Europe is brand taint associated with his right wing political rhetoric and DOGE activities," Black said, underlining that CEO Elon Musk's political endorsements have resulted in brand damage for the EV giant, a consensus that is shared by other experts.
Why It Matters: Afshar's exit from Tesla comes as the automaker has been grappling with declining sales for the better part of 2025, with numbers hitting record lows in multiple markets.
The company's May sales in Europe went down -27.9% and the company's market share from January 2025 to May 2025 shrank to 1.3%. During the same period last year, the market share was at 2.1% in Europe.
Tesla sales also dropped in China, where the company had experienced a relatively stronger performance during the month of May, as new insured registrations fell over 11%.
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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