BROWNSVILLE, TEXAS - NOVEMBER 19: U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. SpaceX’s billionaire owner, Elon Musk, a Trump confidante, has been tapped to lead the new Department of Government Efficiency alongside former presidential candidate Vivek Ramaswamy. (Photo by Brandon Bell/Getty Images)
Elon Musk’s electric vehicle company, Tesla, is facing a significant downturn in 2025, marking its worst production and delivery performance in the past three years.
In the first quarter of 2025, Tesla delivered 336,681 vehicles, a 13% drop from the 386,810 vehicles delivered during the same period in 2024. The decline is even more dramatic when compared to Q1 of 2023, when Tesla reported deliveries of 422,875 vehicles, revealing a staggering 24% decrease over the two-year span.
The challenges Tesla is currently facing are not limited to production and delivery figures. The company’s stock has also taken a major hit, dropping nearly 36% since the start of 2025. This sharp decline has wiped out approximately $460 billion from Tesla’s market capitalization and reduced Musk’s personal net worth by over $144 billion. The impact is not isolated to the United States. Tesla’s global sales are also suffering, with European deliveries plummeting by nearly 43%.
This decline appears to be influenced not only by business-related factors but also by growing public dissatisfaction with Musk’s political activities. As the newly appointed head of the federal Department of Government Efficiency (DOGE), Musk has made a series of highly controversial decisions, including the elimination of federal aid programs, the mass termination of federal employees and cuts to several consumer protection agencies.
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Musk has called for the elimination of Social Security.
These actions have triggered widespread backlash, casting a shadow over Musk’s public image and, by extension, Tesla’s brand.
One particularly notable response is the rise of the “Tesla Takedown” movement, a nationwide protest campaign urging consumers to boycott Tesla in an effort to drive down its stock price. The campaign has gained significant traction on social media and among activist groups, signaling a growing intersection between political dissent and consumer behavior.
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