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2mo ago

Tesla Faces Global Sales Decline Amid Backlash Against Elon Musk

Sales of Tesla vehicles have plummeted in key markets as CEO Elon Musk's political actions and controversial gestures draw widespread criticism.

Visitors stand outside barriers surrounding Tesla's new Model 3 sedan displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. REUTERS/Florence Lo/File Photo
Image
Elon Musk holds a chainsaw reading "Long live freedom, damn it" during the annual Conservative Political Action Conference (CPAC) at the Gaylord National Resort & Convention Center at National Harbor in Oxon Hill, Maryland, on February 20, 2025.

Overview

  • Tesla's global sales have dropped significantly, with a 45% decline in Europe and a 71.9% decrease in Australia compared to the previous year.
  • CEO Elon Musk's controversial gestures at President Trump's inauguration and endorsements of far-right political parties have alienated many customers, especially in Germany and other European countries.
  • Tesla's stock value has fallen by over $1 trillion since its peak, erasing the gains made following Trump's election victory in November 2024.
  • In addition to political backlash, Tesla faces increasing competition from rivals like BYD and declining resale values, further impacting consumer confidence.
  • Tesla has announced plans for new products, including a robotaxi service and lower-priced models, but these remain unconfirmed and are viewed with skepticism due to repeated delays.