Elon Musk, CEO of Tesla, faces growing backlash amid declining stock values and increasing protests against his business practices and political affiliations. Recent reports highlight a concerning trend as Tesla’s stock continues to plummet, shedding nearly 41% of its value over the past eight weeks, reportedly wiping out gains achieved since the US presidential election in November last year. At its peak in December 2024, Tesla’s market valuation reached $1.5 trillion, but recent concerns about sales figures and Musk’s involvement in political matters, specifically his new role as head of President Donald Trump’s Department of Government Efficiency (DOGE), have contributed to this downturn, according to Forbes.

A significant demonstration occurred recently at Black Rock Sands, located near Porthmadog in Gwynedd, Wales, where the British political campaign group Led By Donkeys staged what they claim is the “world’s largest anti-Elon Musk protest.” The protest featured a dramatic message drawn in the sand measuring 250 metres by 150 metres, reading “Don’t buy a Tesla.” This was executed by a Tesla owner known as Prama, who towed a large harrow behind her blue Tesla Model 3 to create the message. Accompanying the written statement was a sandy outline of a figure making a gesture reminiscent of the infamous Nazi salute, a reference to accusations against Musk of embracing far-right ideologies during his interactions with Trump’s administration.

Prama, speaking in a video shared by Led By Donkeys, explained her motivations for selling her Tesla after six years of ownership. “We used to joke that Elon Musk was like a real-life Iron Man,” she said, “but then there are so many things that have happened. He’s gone into becoming someone who is obsessed by power, and that’s really changed my view on him.” She added, “Please don’t buy a Tesla,” urging potential customers to reconsider their purchases in light of Musk’s political stances.

The protest comes amid reports of vandalism against Tesla vehicles and dealerships worldwide, illustrating rising tensions linked to Musk’s public and political persona. In Belfast, approximately 20 Tesla cars were targeted in an attack at a dealership, sustaining damage such as broken windows and defaced bodywork. The Police Service of Northern Ireland is investigating the incident, with MLA Paula Bradshaw condemning the criminal damage, describing it as a source of fear for employees and a disruption to legitimate business.

In a separate incident in New York, a Tesla Cybertruck owner discovered a swastika scrawled on his vehicle, with the words “Elon” written above it. The individual responsible, Michael Lewis, was apprehended after fleeing the scene, while Musk reacted to the incident on social media, remarking that “Naturally, he drives a Subaru.”

As a reflection of the public sentiment towards Musk, Tesla sales across continental Europe have reportedly fallen by 45%. This decline coincides with Musk’s increasing alignment with far-right political figures and activities, prompting various protests against Tesla and Musk’s political engagement. Moreover, when Trump publicly endorsed Tesla at a recent event, he characterised the vandalism against Tesla properties in the US as “domestic terrorism,” further complicating the narrative surrounding Musk and his business ventures.

As investors’ confidence wavers and public demonstrations escalate, the future of both Tesla and Elon Musk’s public image seems increasingly uncertain amidst the ongoing backlash.

Source: Noah Wire Services