KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Tesla’s (TSLA) once-dominant position in California — the most influential EV market in the U.S. — is continuing to erode.
According to the California New Car Dealers Association, Tesla saw a 21.1% drop in vehicle registrations in Q2, marking the 7th straight quarter of declines in its key stronghold.
What’s Going On?
41,138 registrations in Q2 2025 vs. 52,119 in Q2 2024.
CEO Elon Musk’s political involvement — including launching the America Party — may be alienating Tesla’s core liberal consumer base.
Production of the refreshed Model Y was paused earlier this year, possibly affecting inventory.
Globally, Tesla’s deliveries fell 13.5% in Q2 — a troubling signal for growth.
Hybrid Vehicles Are Catching Up
While Tesla struggles, hybrid sales surged 54% in the first half of 2025 in California, now making up 19.2% of total market share.
Cybertruck, Tesla’s bold pickup bet, managed to clock in 3,622 unit registrations in California in H1 — an interesting start, but far from a volume gamechanger yet.
Investor Take: Watch the Narrative
Tesla is no stranger to short-term volatility. But a multi-quarter sales drop in its home market, coupled with Musk’s political distractions, creates a perfect storm of:
Brand perception risk
Demand uncertainty
Competitive pressure (from hybrids & rivals like Rivian)
As fundamentals soften, Tesla’s story may be shifting from “disruptor darling” to “polarizing icon.”Is this just a correction — or the start of a structural demand shift?
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