Elon Musk: has he made Tesla toxic?
Musk's political antics have given him the 'reverse Midas touch' when it comes to his EV empire

Elon Musk can either run Tesla, or he can carry on as President Trump's first buddy. "But he can't do both," said Matthew Lynn in The Daily Telegraph. The tech billionaire's controversial role as Doge's slasher-in-chief is starting to inflict "real damage" on his electric car firm, with sales plummeting by more than 70% in Australia and Germany, and 45% in Europe overall compared with this time last year. Tesla's share price has halved; showrooms are being picketed; and liberals are covering their Teslas with stickers reading "I bought this before we knew Elon was crazy".
The carmaker was already facing a "much more crowded market", said Jim Norton in the same paper, because Chinese rivals have muscled their way in with cheaper alternatives. But Musk's political antics – slashing federal jobs in the US, blasting European leaders, endorsing far-right parties – have turned one of the most coveted electric vehicle brands "toxic".
This is not how oligarchy is meant to work, said Gaby Hinsliff in The Guardian. And both Musk and Trump seem to be "rattled": just look at last week's tragic Tesla sales pitch on the White House lawn, where the US president tried to flog Musk's electric vehicles to his gas-guzzler, pick-up-driving Maga faithful. Trump is all about winning, so he'll hate the impression that being on Team Trump has the "reverse Midas touch".
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
As for Musk, said Charlie Warzel in The Atlantic, I've never seen the poor centi-billionaire looking so "defeated". It's not just Tesla. European governments are also looking for alternatives to replace Musk's Starlink satellites. His personal brand is crumbling under the weight of his brash political interventions – and that's a big problem for the world's richest man.
Musk's value rests on a certain "image": that he, a brilliant "Tony Stark type", can bend the world to his will through the force of his "singular ability". That perception has fuelled confidence in his firms, even as the mogul took "wild business bets". But "slashing" government services relied upon by millions of Americans, as he is doing at Doge, is a risk "orders of magnitude" larger than anything he's done before. "Musk is playing a dangerous game, and he looks to be losing control of the narrative."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
How often should you check your credit report?
The explainer Contrary to what you might expect, your credit report does not contain your credit score. But it does offer a lot of other valuable information.
-
Sick 9/11 responders are being left behind amid federal spending battle
The Explainer Services have been cut and restored following outcry, but staffing issues remain
-
TV to watch in May, including 'The Four Seasons' and 'Duster'
The Week Recommends A comedy from Tina Fey, a '70s crime thriller from J.J. Abrams and an adaptation from the pages of Judy Blume
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
How the US bond market works – and why it matters
The Explainer Donald Trump was forced to U-turn on tariffs after being 'spooked' by rise in Treasury yields
-
Work life: Caution settles on the job market
Feature The era of job-hopping for bigger raises is coming to an end as workers face shrinking salaries and fewer opportunities to move up
-
Who would win in a China-US trade war?
Today's Big Question Tariff pain will be higher for China but Beijing is betting it can weather the storm
-
Lesotho: the tiny African nation in the crosshairs of Trump's tariff war
Under the Radar US president imposes 50% reciprocal levy on the impoverished state: the highest of his so-called 'Liberation Day' tariffs
-
What is the job market's future after Trump's tariffs?
Talking Points Economic analysts are split on what the tariffs could mean for employees
-
Is this the end of globalisation?
Today's Big Question American-led post-war order is 'finally starting to crumble' but that could bring about 'a more inclusive world'
-
How could stock market slides affect you?
Today's Big Question Pensions, prices and jobs at risk as Donald Trump's 'Liberation Day' measures take hold