Tesla Inc. is facing a steep decline in performance as JPMorgan analysts forecast first-quarter deliveries to drop to 355,000 vehicles, the lowest since 2022. This represents a 20% reduction from previous estimates. Tesla's stock has fallen 39% in 2025, with its market capitalization halved from its peak of $1.2 trillion. CEO Elon Musk's political role as head of the Department of Government Efficiency (DOGE) under the Trump administration has sparked widespread criticism. Tesla's sales in key markets have suffered, with declines of 76% in Germany, 49% in China, and 65% in Australia. Meanwhile, competitors like BYD have surged, with February sales reaching 481,318 units in China, a 75% year-over-year increase. Some Tesla owners have resorted to rebadging their vehicles to distance themselves from Musk and the brand amid political backlash. Incidents of vandalism, including Cybertruck defacement, and protests at Tesla dealerships have further strained the company's public image. JPMorgan has set a $120 share price target for Tesla, suggesting a potential 50% downside from its current valuation.