Tesla has implemented price reductions in various markets, including China, Germany, and the U.S., to address decreasing demand for electric vehicles. The automaker has experienced a 10% decline in sales of its Model 3 and Model Y vehicles, prompting CEO Elon Musk to emphasize the necessity of adjusting prices to align with production and demand.
The Democratic Party’s advocacy for electric vehicles has not translated into strong support for Tesla, with data indicating a significant decline in the proportion of Democrats purchasing Tesla cars. This decline has coincided with controversial remarks made by CEO Elon Musk on social media. Despite a slight rebound in 2024, the numbers remain lower than in previous years, with Republicans and independents gaining market share.
Tesla, led by its outspoken CEO Elon Musk, has faced challenges despite its previous dominance in the electric vehicle market. Musk’s polarizing behavior, including support for right-wing views and accusations of racism, has raised concerns among potential customers. While Tesla’s struggles are partly due to external factors, experts believe Musk’s persona could become a liability as competition intensifies in the EV industry.
