Tesla faces $80 billion loss in valuation after Elon Musk warns of slower sales growth

Tesla is reportedly looking at a $80 billion loss in valuation after CEO Elon Musk warned of declining sales growth.

Musk told investors this week that growth for what is largely considered the world's premier electric vehicle line would be “notably lower,” according to Reuters, as the company focuses on a new, cheaper model that will be produced at its Texas factory in the second half of 2025.

The new model, Musk said, will include cutting-edge technologies that will make increased production a challenge.

Tesla stocks tumbled 12% of Thursday following Musk’s statements, which brings its market capitalization loss for the month to approximately $210 billion.

The price of a Tesla car ranges about $42,900 to $119, 000.