Tesla’s sales in Germany experienced a significant decline in February, reflecting a broader downturn across Europe. This slump has impacted the company’s share price and drawn attention to backlash against the political activities of Elon Musk, Tesla’s chief executive. According to the German Association of the Automotive Industry, sales of Tesla cars in Germany, the largest electric vehicle market in Europe, dropped by 76 percent in February compared to the same period last year. This marks the second consecutive month of declining sales for the U.S. carmaker in the country.
The decline in demand for Tesla vehicles is not limited to Germany. Other European countries have also seen reduced interest since Musk became closely associated with former President Trump’s administration and intensified his support for far-right parties in Europe and beyond through X, the social media platform he owns. Tesla’s stock price has fallen more than 40 percent from its December peak, erasing gains made after Trump’s November election victory, when investors speculated that Musk could leverage his ties to the White House for business advantages.
In Germany, Musk’s vocal endorsement of a far-right party ahead of last month’s parliamentary elections, along with his controversial remarks about moving beyond “a focus on past guilt,” may have alienated potential customers. Additionally, Tesla and Musk are increasingly becoming targets of protests and vandalism. In London, activists have launched campaigns urging people to abandon their Teslas and cancel X accounts. In Strasbourg, France, an activist group is distributing stickers urging Musk to “Stay Away from the E.U.” Over the weekend, several Tesla vehicles were deliberately set on fire in a parking lot in southern France, according to prosecutors.
— news from The New York Times