Tesla under fire from all sides as sales collapse and stock plunges
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Elon Musk is facing unprecedented pressure as both critics and supporters of U.S. President Donald Trump turn against him. Once hailed as a visionary, Musk has now become a lightning rod of political backlash—first boycotted by Trump’s opponents, now increasingly abandoned by his supporters. The fallout is hitting Tesla hard: shares plunged as much as 16% during Thursday’s trading session on Wall Street, before slightly recovering by the close.
But the worst may be yet to come. Tesla is trading at a sky-high price-to-earnings ratio of 161—unjustifiable amid falling revenues and a brand increasingly tarnished by Musk’s controversial behavior.
The numbers confirm the crisis. In May 2025, Tesla’s global sales collapsed. In Portugal, deliveries fell 68% year-over-year, with just 292 vehicles sold. France, Tesla’s second-largest European market, posted a 67% drop—its worst performance since 2021. Other declines include Sweden (-53.7%), Denmark (-30.5%), the Netherlands (-36%), and Spain (-29%, with 794 cars sold).
Tesla’s valuation continues to rest on future growth that now appears increasingly uncertain. Meanwhile, global demand is shrinking fast.
But the worst may be yet to come. Tesla is trading at a sky-high price-to-earnings ratio of 161—unjustifiable amid falling revenues and a brand increasingly tarnished by Musk’s controversial behavior.
The numbers confirm the crisis. In May 2025, Tesla’s global sales collapsed. In Portugal, deliveries fell 68% year-over-year, with just 292 vehicles sold. France, Tesla’s second-largest European market, posted a 67% drop—its worst performance since 2021. Other declines include Sweden (-53.7%), Denmark (-30.5%), the Netherlands (-36%), and Spain (-29%, with 794 cars sold).
Tesla’s valuation continues to rest on future growth that now appears increasingly uncertain. Meanwhile, global demand is shrinking fast.