Sales Drop 13 Percent Amid Elon Musk Backlash
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Tesla trade-ins have hit record highs, while sales in Europe have dropped.
U.S. News & World Report |
Tesla sales declined in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers.
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Tesla's sales in key European markets fell again in March, data showed on Tuesday, adding to signs that drivers are shunning Elon Musk's electric car brand as competition from China stiffens and some protest against his political views.
Protesters are trying to escalate a movement targeting Tesla dealerships and vehicles in opposition to Elon Musk's role in DOGE.
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For Tesla, however, the numbers are downright awful. In the January-February period of 2025, the company sold 37,311 units in Europe, a 49 percent decline compared to the same period last year.
Protesters from New York to Berlin called for a boycott against Tesla, denouncing the company's CEO, Elon Musk.
2don MSN
The Tesla CEO acknowledged his DOGE activities are impacting the electric vehicle maker's stock price amid boycotts and protests.
Still, Deutsche Bank analysts expect a 5% sales drop this year, assuming a staggered rollout of Tesla's anticipated cheaper car. Tesla is expected to prioritize delivery volumes at the cost of margins again this year with more incentives and lucrative financial deals, they said.
Crowds have protested billionaire Elon Musk’s purge of the U.S. government under President Donald Trump outside Tesla dealerships throughout the U.S. and in some cities in Europe.