The EV giant is struggling with plunging sales and brand backlash, but India could be a path to redemption.
Tesla is having a nightmarish year, and much of the damage can be traced directly to its CEO, Elon Musk.
After spending nearly $290 million to help Donald Trump return to the White House, Musk took on a tailor-made role in the administration, heading the new Department of Government Efficiency (DOGE). His push to slash federal agencies and cut social programs, combined with his embrace of controversial theories, sparked global protests outside Tesla showrooms. The company’s liberal customer base, once its greatest asset, felt alienated, with many owners publicly regretting their purchases.
The backlash has been brutal. In the first quarter, Tesla’s global sales fell 13%, and its net income plummeted a staggering 71% to $409 million compared to the previous year. The company’s stock is down over 20% since January. With early data suggesting the slide isn’t stopping, the reputational damage looks deep and lasting, even after Musk’s spectacular falling out with the president and departure from the administration.
