Tesla Shares Sink In Europe As CEO Elon Musk Faces Political Backlash

Benzinga 2025-03-26

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Tesla's European sales dropped 49% year-over-year in the past two months, even as overall EV sales rose, according to ABC News. Tesla faces criticism over its aging vehicle lineup and CEO Elon Musk's political ties, including backlash in Europe for his endorsement of Germany's far-right party. Tesla is under pressure from rising EV competition, especially from China's BYD, which is growing rapidly and introducing fast-charging technology. Musk's support for the Alternative for Germany party and his ties to Trump have drawn sharp criticism from German leaders and sparked protests targeting Tesla in both the U.S. and Europe.

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