Following Elon Musk’s public support of Donald Trump, Tesla initially experienced a surge in stock value. However, the electric vehicle maker is now facing declining global sales, particularly significant drops in key European markets, potentially linked to negative reactions to Musk’s political stances. Simultaneously, Tesla confronts challenges from increased competition and the threat of Trump administration tariffs impacting its supply chain. These factors, combined with recent vandalism at a Tesla dealership, suggest a potential “Trump-lash” impacting the company’s performance and stock price.
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Tesla’s European sales have plummeted, with Germany experiencing a nearly 60 percent year-on-year drop and France seeing a 63 percent decline. This sharp decrease, affecting several other European markets, is attributed to consumer backlash against Elon Musk’s public support for far-right political parties. The decline contrasts with overall rising electric vehicle sales in Europe. The negative impact on Tesla’s sales follows Musk’s controversial actions and statements, including alleged ties to far-right figures and criticism of governments.
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Tesla experienced significant sales declines in major European markets, including a 59% drop in Germany and 63% in France, during January. These drops occurred alongside Elon Musk’s highly publicized political endorsements in Germany and the US, potentially impacting consumer sentiment. Production changes for the redesigned Model Y and inventory shortages are also cited as contributing factors to Tesla’s weak start to the year, adding to its first annual sales decline in over a decade. Further evidence suggests a correlation between Musk’s political stances and decreased sales in California.
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John Q. Hosedrinker