Op-ed: Tesla’s stock slump is a glimpse of the future of the multinational corporation, and it’s not good
Trump’s renewed commitment to America First has led to sweeping tariff threats, including potential 60% duties on Chinese products. These measures strain relations not just with China but also with key allies like Canada, Mexico, and the European Union. U.S. corporations are now viewed abroad as extensions of American foreign policy, exposing them to backlash.
The consequences are clear. In China, boycotts of American products are on the rise. Apple
, once dominant in the Chinese smartphone market, saw its share drop to 15% in Q3 2024 as Huawei claimed 19%, according to Counterpoint Research. In its most recent earnings, Apple’s China sales declined 11.1%, its largest drop in China sales since the same quarter last year. Starbucks faces similar challenges, losing ground to homegrown competitor Luckin Coffee, which offers lower prices, faster service, and localized flavors. Tesla — once China’s leading foreign EV brand — has seen a 22% year-over-year decline in sales, with BYD dominating the domestic market…Read More.
Author
Team Counterpoint
Counterpoint Research is a global industry and market research firm providing market data, intelligence, thought leadership and consulting across the technology ecosystem. We advise a diverse range of global clients spanning the supply chain – from chipmakers, component suppliers, manufacturers and software and application developers to service providers, channel players and investors. Our veteran team of analysts serve these clients through our offices located across the key innovation hubs, manufacturing clusters and commercial centers globally. Our analysts consistently engage with C-suite through to strategy, market intelligence, supply chain, R&D, product management, marketing, sales and others across the organization. Counterpoint’s key coverage areas: AI, Automotive, Cloud, Connectivity, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks & Infra, Semiconductors, Smartphones and Wearables.
Related Research
Feb 21, 2025
Feb 20, 2025
Feb 18, 2025