While everyone continues to disparage Tesla after its disappointing Q1 2024 sales performance, the market is favoring Toyota even more. The Japanese automaker’s share prices are up 32% year to date, whereas Tesla is down 33%, which Elon Musk’s company attributed to arson attacks at the Berlin Gigafactory, the shipping crisis in the Red Sea, and the production ramp-up of the Model 3 facelift in California. But as the laggard in the EV race transitions into a late-bloomer, its sluggish approach is after all being rewarded.
