Recently Tesla stock have dropped lower than any other point in the past 16 months. This can be attributed to social events surrounding Elon Musk, CEO of Tesla, as well as the build quality in their newer models.
At the beginning of Trump’s presidency, he appointed Musk as the head of government efficiency. Due to this, many democrats who heavily supported Tesla and other electric vehicle companies began boycotting Tesla and electric vehicle charging stations. Originally, 44% of Tesla sales were to people who were registered democrats. Now only 27% of sales are to registered democrats.
Tesla’s quality has also gone down over the years. While technology continues to advance, the quality of the newer models has begun to decline, with newer model Teslas have a growing number of mechanical issues These issues include quick rusting, poor quality interior with more plastics that come apart easily, failing electric systems and overuse of plastics.
All in all, Tesla sales have dropped due to Musk’s political associations and build quality.
