Tesla shares fell 15% to $222.15 on March 10, 2025, as Wall Street sold off and investors weighed several pressures on the company. In a Fox Business interview that day, CEO Elon Musk told Larry Kudlow he was running his businesses “with great difficulty.” The headline’s “freaking out” wording is an editorial characterization, not a verified account of Musk’s mental state.
What happened to Tesla stock on March 10, 2025?
Reuters reported Tesla shares dropped 15% to $222.15 on March 10, 2025, their lowest level since October at the time. The move erased the late-2024 rally that had nearly doubled the stock after Donald Trump’s November 5 election. The decline occurred during a broader selloff: the Nasdaq fell 4% that day amid fears that tariffs could contribute to a recession. These are figures for that trading session, not a description of Tesla’s current share price or performance. Reuters’ March 10 report covered the market move.
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What did Musk tell Larry Kudlow?
Reuters reported that Kudlow asked Musk, “I mean, how are you running your other businesses?” Musk replied, “With great difficulty,” with a sigh. That is the verified exchange reported from the March 10 Fox Business interview; no additional interview remarks should be inferred from it. Reuters reported the exchange and the market context.
Was Musk actually crying or “freaking out”?
The available reporting establishes his words, not his private emotional state. Futurism’s March 11 follow-up described Musk as appearing close to tears. That is the outlet’s interpretation of his appearance, not proof that he was crying, having a breakdown, or “freaking out.” The original “freaking out” language is an editorial hook. Futurism’s follow-up makes clear the appearance description is an observation.
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Did Tesla sales crater too?
There was evidence of weakness, but the reported figures measure different things across different periods and geographies.
| Figure | Scope and period | What it measures |
|---|---|---|
| 49% decline | Europe, January–February 2025 versus the same months in 2024 | Tesla sales, citing European Automobile Manufacturers’ Association data reported by AP |
| 28.4% growth | Europe, January–February 2025 | Overall battery-electric car sales, citing the same ACEA data reported by AP |
| 336,681 | Global, Q1 2025 | Tesla vehicle deliveries, according to the company’s SEC-filed release |
AP reported the European figures on March 25; they do not represent global quarterly sales. Tesla’s Q1 release reported global deliveries and attributed several weeks of lost production to Model Y line changeovers across its four factories. Tesla also cautioned that deliveries and storage deployments are only two measures of financial performance and should not be relied on as an indicator of quarterly financial results. A regional two-month sales comparison and a global quarterly delivery count are not like-for-like measures. AP’s March 25 report and Tesla’s SEC-filed Q1 release provide their respective figures.
Why did Tesla shares fall?
Contemporaneous reporting pointed to multiple potential pressures, not a proven single cause. Reuters cited the broad market selloff and tariff-related recession fears, investor concern that Musk’s government work could distract him from Tesla, European sales weakness, and competition from Chinese manufacturers and legacy automakers. Art Hogan, chief market strategist at B. Riley Wealth, told Reuters: “The public eye seems to be coalescing around what he’s doing for the federal government. So if you’re a shareholder, you can’t help but wonder if that’s not detracting from what he should be doing for the publicly traded company that he’s running.”
Reuters said it was difficult to determine how much Musk’s political activity factored into vehicle sales. AP also pointed to possible roles for an aging model lineup, greater competition, and backlash to Musk’s political activity, without establishing one as the cause. These are factors investors and analysts discussed at the time, not proof that any one factor drove the March 10 drop. Reuters’ contemporaneous account and AP’s later European sales report describe those competing explanations.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to read the headline in context
“Cratering” refers here to the sharp one-session decline reported on March 10, 2025. The evidence supports that historical market move, Musk’s reported answer to Kudlow, and subsequent concern about sales and competing pressures. It does not establish his emotional state or prove that his politics alone caused the share decline.
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