We live in a world where current events have truly become stranger than fiction at times. Tesla, once the electric vehicle darling, is now public enemy No. 1 in the eyes of millions of American car buyers.
Is this due to a severe mechanical malfunction or product issue? No, Tesla's recent fall from grace is under no uncertain terms the result of its eccentric CEO's affiliation with the President of the United States. Elon Musk is no stranger to controversy, but tensions have reached an all-time high with the creation of DOGE.
The Department of Government Efficiency, Musk's brainchild, has been responsible for thousands of job cuts in the public sector. Whether or not you agree with these cuts or DOGE's methods, it's impossible to ignore Tesla's recent stock market nose dive. Tesla (TSLA) stock is down at least 34% year-to-date after an incredible start to the first quarter. The share price dipped below $222 as of April 8, 2025. Tesla stock reached record highs in late 2024, so how on Earth did we get here, and why does everyone suddenly hate Tesla?
Tesla's Q1 revenue crashes: Profits plummet 71% amid backlash to Musk's role with Trump administration
America's love-hate relationship with Tesla
It may be easy to dismiss Tesla as a brand because of its CEO's antics, strong anti-union sentiments, and lack of transparency with the press. Not to mention consistent promises during shareholder meetings and rollouts that often seem like dreams rather than achievable goals. Musk shoots for the moon, regardless of how hard the landing may be.
America's relationship with Tesla is an odd one because on one end of the spectrum, the company is a true testament to the ingenuity of American engineering. After all, Teslas are easily some of the most American-made vehicles in the country. The company created huge plants in America employing thousands and pushing the envelope for the home team in the EV space.
Rivals like Rivian show plenty of promise, but no American company has been able to achieve as much success as Tesla in terms of electric vehicle production and sales. Numbers don't lie and Tesla outsold popular gas models from Honda, Stellantis and Toyota in 2024. In fact, it's the only electric vehicle to break into the top 25 best-selling vehicles of the year list in 2024. It dominated sales in states like California, Nevada, New Jersey and Washington.
Why are people attacking Tesla?
As an electric vehicle enthusiast, there are plenty of reasons to love the brand's products. Hence why it was the best-selling vehicle in the world at a point in 2024 (as per Statista). On the other hand, there's a nationwide attack on the once-beloved electric vehicle company, and it has everything to do with reactions to Musk's involvement with the government.