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Stockholm, Sweden – Tesla’s new vehicle registrations in Sweden plummeted by a staggering 80.7% in April, according to data released by automotive trade group Mobility Sweden. This sharp decline coincides with growing disapproval of CEO Elon Musk’s increasingly visible political stances.
The data reveals that Tesla registered only 203 vehicles in April, a dramatic drop from the 1,052 registrations recorded during the same period last year. This downturn contrasts sharply with the overall Swedish car market, which saw an 11% increase in new passenger vehicle registrations, totaling 24,292 units.
While Tesla struggled, its Swedish competitor, Polestar Automotive, experienced growth. Polestar saw its sales rise to 535 vehicles in April, marking an 11.5% increase.
Tesla is facing similar challenges in other European markets, fueled by consumer protests against Musk’s activities and growing competition from newer electric vehicle (EV) models, particularly those from Chinese manufacturers. Some protests have escalated to vandalism and attacks on Tesla properties.
Newsweek has reached out to Tesla’s European press office for comment but has yet to receive a response.
Musk’s Political Involvement and Investor Concerns
The significant drop in sales comes as Tesla’s stock price faces pressure. Investors are increasingly questioning whether Musk’s focus on political matters is diverting his attention from the company’s core business.
Despite reports suggesting the Tesla board was considering his replacement, Tesla Chair Robyn Denholm issued a statement via X, formerly Twitter, dismissing the reports as “absolutely false” and expressing the board’s confidence in Musk’s leadership.
Musk, who also heads SpaceX and owns social media platform X, has become a prominent figure in U.S. politics, even serving in the White House as head of the Department of Government Efficiency (DOGE). He has also voiced support for political parties in Europe.
Musk Acknowledges Impact on Tesla
Speaking to reporters on May 1st, Musk addressed the impact of his political involvement on Tesla, acknowledging that it hasn’t been easy. “Being attacked relentlessly is not super fun,” he said, referencing incidents of vandalism against Tesla vehicles.
Investor Ross Gerber expressed skepticism following Tesla’s recent earnings call, questioning Musk’s current level of involvement with the company and whether his return to focusing on Tesla is a realistic prospect.
What’s Next for Tesla?
As Musk shifts his focus back to Tesla, investors will be closely monitoring the company’s performance in the face of intense competition and the potential ongoing impact of Musk’s public persona. The question remains: Can Musk successfully steer Tesla back on course, or will his political affiliations prove too heavy a burden for the company to bear?