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Investing.com - Tesla sales dropped in a number of European markets in March, new data showed on Tuesday, as the electric carmaker grapples with a backlash to CEO Elon Musk’s political activities.
Musk, the world’s richest man and close adviser to U.S. President Donald Trump, has been an outspoken advocate for far-right causes in Europe, sparking controversy.
The actions have come as Tesla (NASDAQ:TSLA)’s sales have shown recent indications of slumping, with investors eyeing intensifying competition and hoping that the highly-anticipated release of the company’s Model Y mid-size SUV offering provides a fillip to tepid demand for its aging line-up.
First-quarter deliveries at Tesla -- expected to be released on Wednesday -- are widely tipped to have slipped, possibly complicating Musk’s earlier pledge to return the annual figure to growth following its first-ever decline in 2024.
A push by Tesla to roll out new incentives like low-cost financing to entice customers have not displayed much of an impact on demand in Europe. Sales in the region declined in the first two months of 2025, with analysts suggesting that car buyers may be reacting to Musk’s politics. Protests against Musk have also broken out in Germany and Finland, denting his reputation in the U.S., where he has overseen an effort by Trump to downsize the federal government.
Sales of new Teslas in France and Sweden dipped for a third straight month in March, with quarterly sales in the countries slumping to their lowest levels since 2021. Official data indicated a 1% year-on-year downturn in sales in Norway as well.
In France, Tesla’s market share dropped to 1.63% in the quarter ended in March, as the presence of Chinese names like BYD increased.
A total of 593 registrations were also logged in Denmark last month, down by 65.6%, while the number slumped by 61% to 1,536 in the Netherlands.
Tesla registrations rose by 2% in March in Portugal, although they fell by 26% in the first quarter.
(Reuters contributed reporting.)