Tesla Inc (NASDAQ:TSLA) shares were set to open lower on Monday as the company faces growing pushback in Europe linked to Elon Musk’s role in the new Trump administration.
The political fallout has coincided with sharp sales declines across key European markets, including Spain, Germany, and the Nordic region.
In Spain, Tesla’s new car registrations fell 36% in April from a year earlier to 571 vehicles, according to data from industry group ANFAC.
For the first four months of 2025, sales were down 17% year-on-year, even as overall electrified vehicle sales rose 54%.
Chinese automakers BYD, MG and Omoda reported surging growth, with sales up 644%, 80% and 346% respectively.
Musk’s public ties to far-right politics have triggered protests and vandalism at Tesla showrooms and charging stations.
He said recently he would scale back his involvement in Washington to focus more on running Tesla.
Ahead of the bell, the stock was down 1% at $287.21. Year-to-date, the stock is off 24%.