Tesla stock early Tuesday looked poised to shake off some of its tariffs-related losses from Monday as President Donald agreed to month-long reprieves for both Canada and Mexico. Meanwhile, TSLA consolidated in January with 2025 earnings consensus estimates plummeting 11% following Q4 earnings last week.

Car stocks, including Tesla shares, were volatile on Monday—and in the red. Tariffs are the reason. Over the weekend, President Donald Trump went ahead with his plan to put 25% tariffs on goods from Mexico and Canada.

Tesla’s sales have dropped by double digits in California, the most important EV market in the US, all while the rest of the EV market is growing.

Tesla Inc. registrations plummeted 63% last month in France, the European Union’s second-biggest market for battery-electric vehicles.

Some media outlets have linked the company’s cratering sales to its CEO’s growing unpopularity. That would make sense, since Musk has spent the last several months openly meddling in political systems all over Europe.