From hero to zero? Elon Musk has long had a loyal following, but where the billionaire was once hailed for his David versus Goliath assault on the established automotive order, many now fault the South African entrepreneur for his political turn to the far right — and, in particular, his controversial role as head of the Trump administration’s Department of Government Efficiency, or DOGE.
In an unusual move, Kia waded into the debate this week — or rather, its Norwegian arm, which took a shot at the Tesla CEO in a snarky Instagram post that featured a bumper sticker reading, “I bought this after Elon went crazy,” on the back of the new Kia EV3.
It’s apparently a sentiment resonating with many shoppers, as Tesla sales are plunging in markets from Berlin to Beijing — while a growing number of current owners are trading in, even at a loss.
Tesla stores are facing protests, and in more than a few instances, vandalism. A dozen EVs were torched at a store in France, a storefront, and vehicles were shot at in the Pacific Northwest, according to French news outlet La Dépêche.
This has prompted President Donald Trump to weigh in. He’s calling those who damaged Tesla stores “domestic terrorists,” while claiming boycotts of the brand are “illegal.”
Trump has also said he’ll buy a Tesla as a “show of confidence and support.”
Has Elon ‘Gone Crazy?’
If you spend much time on the road — or on social media — you’ve likely seen how sentiments have shifted when it comes to Musk and Tesla. Not all that long ago, you could find entire sections of Apple News and Reddit devoted to the 53-year-old executive. But much of the coverage has turned negative lately.
That’s reflected in bumper stickers declaring, “Ugh, I know, another Tesla,” and “I bought this before I knew Elon was crazy.”
Kia put its own spin on an Instagram post with a bumper sticker reading, “I Bought This After Elon Went Crazy.” It adorned the back of a Kia EV3, the automaker’s new entry model that would go up against the widely rumored Tesla Model 2 — about which Musk has repeatedly reversed position.
(The social media post came from Kia’s Norwegian subsidiary and was published in both Norway and Finland. The South Korean automaker has since disavowed the Instagram post, and it’s been taken down.)
Protests, Boycotts, Vandalism on the Rise
While many of the bumper stickers and social media posts have a humorous side, things have been growing far more serious in recent weeks.
Protests have popped up at Tesla dealerships across the country, as well as in many foreign markets. A “Takedown Tesla” event in Chicago last weekend drew hundreds gathering outside a showroom in the fashionable Rush St. neighborhood.
Protestors carried signs declaring, “Launch Musk to Mars,” and “Democracy Dies with DOGE,” according to the Chicago Tribune and other local media. There were some Teslas damaged nearby the store, those reports indicated. And that’s becoming a more common occurrence.
Prosecutors are investigating an arson, a fire in Toulouse, France, last week in which eight Teslas parked outside a showroom were completely destroyed and four others damaged. Four Cybertrucks were burned at a storage facility used by a Seattle dealership.
And, in Loveland, Colo., police have leveled a variety of charges against a Lyons resident, Lucy Gray Nelson, whom they claim was involved in a series of incidents at a local dealership. Nelson reportedly was prepared to use Molotov cocktails, and a reporter for the Fort Collins Coloradan newspaper also saw the building spray painted with the words “Nazi Car.”
That appeared to reference the Tesla CEO’s apparent use of the Nazi-style “Sieg Heil” salute during an event on January 20, 2025.
There have been reports of vandalism and violence at numerous other Tesla showrooms in the U.S. and abroad, including incidents where showroom windows and vehicles were hit with gunfire.
Trading In
In yet another blow toward the electric automaker, long-time Tesla owner and angel investor Joanne Wilson has said she wants to get rid of her Model S. But in this instance, she may invite Musk’s critics to smash it with sledgehammers.
Wilson is far from the only one looking to get out of a Tesla. Singer Sheryl Crow sold off her Tesla, donating the cash she got to National Public Radio. But most owners need trade-in cash to get another set of wheels.
Bill McGuire, a retired automotive engineer from Detroit, is one of many Tesla owners who’re trading in. He describes his Model 3 as “one of the best cars I’ve ever owned. But enough is enough,” he told GearJunkie in a series of text messages. “I no longer wish to be associated or identified with a fascist, and I choose that word carefully.”
McGuire has now purchased a Hyundai Elantra SE.
On the whole, EVs today have lower residual — or trade-in — values than comparable gas models, according to industry data. But, tracking site iSeeCars reported this week that the average price of a used Tesla is now down to $30,000, about $10,000 less than comparable EVs from other manufacturers.
For the bestselling Model Y, it noted, trade-ins are now commanding about $6,000 less than a year ago.
Musk Responds
With only a few exceptions, Musk has been relatively quiet about the opposition he and Tesla have faced. But, he’s coming under more and more scrutiny from Wall Street as nervous investors begin to flee the stock.
Shares traded on the NASDAQ exchange under the ticker TSLA closed at $230.58 on Tuesday, down from a 52-week high of $488.54 in mid-December when Musk and Tesla were buoyed by a post-election high. The automaker’s market capitalization fell to $741.7 billion, less than half what it was 3 months ago.
UBS analysts lowered their price target on Tesla to $225 from $259, and Baird from $440 to $370 in recent days. And some bears see a full-on crash that could take it down to below $100.
In a tweet on X, Musk said the company “will be fine long-term.” But, in an appearance on Fox Business, he was more downbeat, acknowledging that running his businesses — including the likes of Tesla, SpaceX, and social media site X — is being done “with great difficulty.”
Trump Weighs In
Even the President himself weighed in on the controversy, taking a stand on the growing calls to boycott Tesla products.
“Elon Musk is ‘putting it on the line’ in order to help our Nation, and he is doing a FANTASTIC JOB!” Trump said in a post on his Truth Social media site. ”But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s ‘baby,’ in order to attack and do harm to Elon, and everything he stands for.”
The president amped the rhetoric up when it came to the vandalism targeting Tesla stores, however, declaring his intent to label such actions “domestic terrorism,” a move that could level up potential criminal penalties.
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