2024, the year of Donald Trump's swift return to the White House, has hardly been kind to Tesla. For the first time in its history, the brand founded in 2003 recorded a decline in worldwide sales, albeit limited to 1%. Is this underperformance the first sign of a "Musk effect"? Analysts remain cautious. Overall, the global market for electric cars is struggling (except in China), due in particular to an erosion of purchase subsidies.

Some weak signals are emerging, however, suggesting that the brand's appeal may be affected by the political engagement of its boss. In Germany, Elon Musk has been a vocal supporter of the far-right AfD party, in the run-up to the February 23 elections. The automaker's registrations in Germany already plunged by 41% in 2024, compared with 18% for all electric vehicle sales, mainly due to the removal of purchase subsidies.

According to business daily Les Echos, German green electricity suppliers LichtBlick and Badenova have banned Tesla cars from their corporate fleets, to mark their commitment to "diversity, tolerance and democracy."

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