Senator Ed Markey (D-Mass.) challenged Elon Musk's assertion that government subsidies played a negligible role in the success of Tesla Inc. and Space Exploration Technologies Corp., citing a previous statement by President Donald Trump. Markey shared a screenshot of a Truth Social post where Trump claimed Musk received more subsidies than "any human being in history" and stated that the companies would "close up shop" without them. "For all those wondering why Elon is scared of this conversation," Markey posted on social media platform X on June 14, 2026.

Mush had previously defended his companies on X, arguing that Federal subsidies accounted for less than 2% of the value of Tesla and SpaceX. He contended that incentives disproportionately benefited competitors rather than his own enterprises. This dispute follows Musk's recent comments regarding Tesla's sales performance following the removal of the $7,500 Federal EV Credit, which ended in September 2025.

Musk stated that Tesla sales increased after the credit expired because buyers shifted from other EV makers to Tesla. Data from Cox Automotive supports the resilience of the EV market, with U.S. sales reaching a record high of 85,000 units in May. The average transaction price for an EV in May stood at $54,532, a 4% year-over-year decline from May 2025. Despite the lack of federal tax credits, incentives remained elevated, averaging nearly twice the industry average at roughly $7,600 per vehicle.

Tesla reported a 3.4% year-over-year drop in transaction prices from May 2025 and a 1% decline from April 2026. The Model 3 sedan and Model Y crossover SUV accounted for 96% of Tesla’s sales in May. Customers paid an average of $49,082 for the Model 3 and $51,537 for the Model Y.

Tesla Sales Performance in Key Markets

Tesla received a $465 million Energy Department loan in 2010 to support Model S development, which it repaid early with interest. Regulatory-credit sales have exceeded $14 billion since 2008. Tesla shares were down 0.08% to $406.10 during the after-hours trading session on Friday.

GLJ Research analyst Gordon L. Johnson has reiterated a Sell rating on Tesla, maintaining a price target of $24.86. The rating reflects the analyst's stance on the electric vehicle manufacturer's current valuation and market performance.

The price target of $24.86 suggests a significant downside from current trading levels. Johnson's recommendation aligns with a cautious outlook on the company's near-term prospects.

Tesla, listed on NASDAQ under the ticker TSLA, continues to face scrutiny from various market analysts. GLJ Research's position highlights ongoing concerns about the company's financial trajectory.