This suggests that a reaction from consumers who dislike Mr Musk’s antics are only one reason for falling sales. An updated Model Y, Tesla’s best-selling vehicle, has just gone on sale. In preparation Tesla ran down inventory of the old model, crimping supply. Customers doubtless held off purchases until the new car was available.

Shares of Tesla were down 15% on Monday, the worst one-day decline since September 2020, as the selloff on Wall Street deepened