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Tesla was once again criticized for being on the "brink" of bankruptcy! According to Reuters, the US hedge fund, Greenlight Capital, criticized Musk and Tesla, saying that Tesla's lack of demand, "desperate" price cuts, layoffs and so on, once again seemed to be on the "brink" of bankruptcy. "We think that right here and now, the company seems to be on the brink of collapse again."

At the end of February, Tesla announced the global closure of offline stores to save operating costs, while the price of all Tesla models was reduced by 6%. Tesla began to lay off staff after the store closure, and the old car owners who had bought the car were also very unhappy with Tesla's sudden price cut. due to the strong reaction from the outside, Tesla changed his mind and decided to readjust his sales strategy. He planned to retain a large number of stores and raise the prices of some high-end models, with the exception of the standard version of Model 3, the other models were raised by 3% since March 18.

Mr Musk announced in January that Tesla would lay off up to 7 per cent of its full-time staff in 2019, while temporary and contract workers would retain only some of their key positions. Tesla has 45000 employees. This means that the layoffs will involve thousands of people. This is Tesla's second layoff in seven months, and Tesla announced a layoff of 9 per cent in June 2018 to flatten management.

According to sales figures released by Tesla, Tesla delivered a total of 63000 vehicles in the first quarter of this year, down 31% from 90966 in the fourth quarter of last year and well below the 76000 expected by market analysts. Of these, the Model 3 was 50900, below analysts' expectations of 51750 and below the third and fourth quarters of 2018. In addition, total sales of Model S and Model X were 12100 in the first quarter of this year, the lowest level since the third quarter of 2015, a drop that analysts say could lead to Tesla's revenue falling by more than $1 billion than expected.

After Tesla released production figures for the first quarter, the company's share price fell 9%. By Friday's close, Tesla's share price was down 11%, and its market capitalization fell to $47 billion, below GM's $54 billion.

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