Recent sales data shows that Tesla is selling far fewer electric vehicles amidst a nationwide drop in EV demand and CEO Elon Musk’s forays into politics. The Texas-based automaker saw its valuation spike after President Donald Trump was elected, likely due to the president’s seemingly close ties to Musk, but this hasn’t translated into actual sales.
Since Tesla dominates most Western automakers in the electric vehicle segment, its poor performance may not bode well for the West’s nascent battery electric vehicle (BEV) sector. After nearly two decades in the EV game, Tesla was starting to run out of customers who could afford premium prices and was fielding intense competition from Chinese automakers.
The American automaker’s plans to develop an affordable EV for the mass market never crystallized and there were increasing reports of low vehicle quality. Additionally, Elon Musk’s decision to support Trump’s second presidential bid and involve himself in U.S. politics seems to be doing more harm than good for Tesla.
The firm’s global sales fell by 1.1% in January 2025 and it sold 16.9% less EVs in Australia. Furthermore, Tesla sales dropped significantly in several European countries, a major blow for the company as Europe has some of the most robust electric vehicle markets on the globe. Sales in Norway, an undisputed leader in the EV race, fell by 40.2% last month compared to January 2024.
The firm’s EV sales in Denmark were down by 40.9% in January. With Denmark currently at loggerheads with the Trump administration after President Trump set his eyes on Greenland, Musk’s ties to the president may be putting Danish customers off of Tesla EVs.
Additionally, sales in Spain, France, and the United Kingdom were down by 75%, over 63%, and over 18%, respectively. This represents a notable fall in sales across several major European markets. Australia also joined the list of countries with diminishing Tesla sales after Australians purchased 33% fewer EVs in January 2025 compared to the same month in 2024.
When Elon Musk was asked if his endorsement of the notoriously anti-EV Donald Trump would affect Tesla, he said that the rest of the auto industry would be more affected than his firm. However, it seems his participation in the Trump administration is putting off current Tesla owners and potential future buyers in droves. Musk’s role as the head of the recently created ‘Department of Government Efficiency’ also hasn’t increased his popularity among Americans.
A recent U.S. survey found that 51% of the participants had a poor opinion of the South African billionaire while a poll in Sweden, another strong EV market, showed that he was incredibly unpopular with an 89% disapproval rate.
The hammering that the Tesla brand is currently taking could give other EV makers like Life Electric Vehicles Holdings Inc. (OTC: LFEV) a chance to make bigger inroads into the U.S. market.
NOTE TO INVESTORS: The latest news and updates relating to Life Electric Vehicles Holdings Inc. (OTC: LFEV) are available in the company’s newsroom at https://ibn.fm/LFEV
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