Production issues with the recently-launched Cybertruck also battered sentiment towards Tesla. The company had last week recalled the nearly 4,000 Cybertrucks it had sold so far to fix a faulty accelerator pad- which locked the vehicle into 100% acceleration and presented a major safety risk. Dropping sales, doubts over its FSD pivot and uncertainty over Musk's priorities saw Tesla lose 39% in market capital so far in 2024- nearly half a trillion dollars. The stock took little support from its headcount reduction, while price cuts in its EV models and FSD software over the weekend only presented more margin pressure on the company. Tesla is set to report its first quarter earnings on Tuesday, and is expected to log a sharp decline in its operating profit. Tesla is also expected to clock its first revenue drop in four years.