Tesla's electric car sales dropped 13% in the last quarter, reflecting backlash from Elon Musk's political affiliations. Global sales decreased to 384,122 from 443,956 year-on-year, indicating deeper brand damage. Analysts caution that upcoming quarterly earnings might disappoint as competition increases. Musk's comments about a sales rebound contrast with actual figures. While there were encouraging sales of Models 3 and Y, overall market saturation poses challenges. A promised cheaper model could potentially boost sales, yet uncertainty about Musk's political impact on consumer sentiment lingers.
Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk's political views continue to keep buyers away.
The 13% plunge in global sales suggests the damage to Tesla's brand from Musk's embrace of U.S. President Donald Trump and far-right European politicians is much deeper.
Sales fell to 384,122 in April through June, down from 443,956 in the same three months last year.
Musk has promised a cheaper EV model would be coming this year that would boost sales.
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