As Elon Musk takes a leading role with DOGE, some Tesla customers are rethinking their allegiance
CBSN
Elon Musk has long been Tesla's public face, convincing consumers to pay premium prices for electric vehicles that promised to help combat climate change. But as Musk has navigated toward conservative politics and emerged as a close adviser to President Trump, some Tesla owners say they are reconsidering their loyalty to the brand.
Wall Street analysts worry the Tesla brand is showing some cracks, with sales falling 1% in 2024 from the prior year — the automaker's first annual sales decline in 12 years, even as global EV sales rose 7.3%. They also say Musk's political activities risk alienating consumers, while protests have erupted at a number of Tesla dealerships across the U.S. over his proximity to the Trump administration.
"It would seem that potential consumers for Tesla EVs might be turning away from the company because they don't appreciate Elon Musk's close relationship to President Trump and the administration's tariff policies," Mike O'Rourke, chief market strategist at Jonestrading, told CBS MoneyWatch.
