The involvement of Tesla Inc. CEO Elon Musk in politics may have hurt demand for the company’s vehicles, leading to lower first-quarter financial results. A group protesting against Musk says their efforts are working.
What Happened
Since February, there have been over 2,000 Tesla Takedown protests globally, with local organizers hosting more than 150 events each week to raise awareness about Musk’s activities and to pressure him to leave the government. Tesla Takedown said the electric vehicle company’s financial results show that protests are working, with Tesla’s quarterly revenue and earnings per share missing analyst estimates.
Impact on Tesla’s Finances
- Tesla’s net income was down 71% year-over-year
- Tesla was on the verge of losing money without regulatory credit sales
- The company has failed to deliver on several promises, including delayed or canceled projects
Response from Tesla Takedown
The organizers behind Tesla Takedown said their cause isn’t just a moment, “it’s a movement.” They claim that Musk has “launched an unprecedented assault” on public services and the rule of law. The group believes that as long as Musk continues to lead a regime that exploits data, undermines public institutions, and fuels environmental destruction, the backlash against Tesla will only grow.
Future Plans
Tesla Takedown said their efforts will continue, and they may begin protesting other Musk-related companies in the future, including:
- SpaceX
- Starlink
- X
- xAI
The organization encourages people to have peaceful protests against Elon Musk and Donald Trump. They also call on governments and public pensions to join the movement and stop buying Tesla vehicles and signing contracts with Musk’s companies.
Recent Developments
Musk spoke out about the protestors during Tesla’s first-quarter earnings call, accusing the protest groups of being funded by government waste and fraud. He also announced that he would commit less time to the White House and more time to Tesla, beginning in May.
Stock Price
Tesla stock is up 7.7% to $256.26, compared to a 52-week trading range of $157.40 to $488.54. Tesla stock is down 32.5% year-to-date in 2025.