Tesla, once the electric vehicle darling, is now facing a nationwide backlash from Americans who are abandoning the brand due to its CEO’s affiliation with the President of the United States. The company’s stock has plummeted 34% in the past year, with shares dipping below $222 as of April 8, 2025.
The controversy surrounding Elon Musk’s involvement with the government is at the center of the backlash. Musk recently created a new brainchild called DOGE, which has been responsible for thousands of job cuts in the public sector. While some people support his efforts, others are condemning his actions as anti-union and lacking transparency.
Tesla’s stock market woes have also led to vandalized cars, protests, and mass share sell-offs on social media platforms like Instagram and X (formerly Twitter). The company’s sales have been affected, with rivals like Rivian gaining traction. Despite producing some of the most competitive electric vehicles on the market, Tesla is facing an existential threat due to its CEO’s polarizing stance.
However, it’s worth noting that Tesla has a strong track record of innovation and has created thousands of jobs in America. Its network of electric vehicle chargers benefits thousands of drivers daily, and its products have been successful in the market. The company’s board needs to reevaluate consumer sentiment, which can make or break brands.
Tesla’s future remains uncertain, but it’s clear that the controversy surrounding Musk’s government ties has had a significant impact on the brand. As the company navigates this challenging period, it will need to find a way to regain the trust of its customers and investors.
Source: https://eu.usatoday.com/story/money/cars/2025/04/24/teslas-reputation-hits-rock-bottom/83252194007