Tesla has lost so much value in such a short period of time that JPMorgan analysts said they couldn't think of another comparable moment in automotive history. "We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly," they wrote, adding that the closest example was when Japanese and Korean car brands lost sales amid "diplomatic disputes" with China in 2012 and 2017, respectively. The JPMorgan analysts wrote in a note on Wednesday that those historical cases were "confined to a single market, whereas the decline in Tesla sales in 2025 is not specific to any one nation or geography."