Vandalism and protests against Tesla: Elon Musk faces growing hate and financial problems

Police across the U.S. are investigating a series of attacks on Tesla showrooms, charging stations and Tesla vehicles that have been linked to growing protests and hateful reactions to CEO Elon Musk. This aggressive wave has culminated not only in violence but also in mass protests in response to Musk's tenure in former President Donald Trump's administration and his controversial decisions, such as cutting federal jobs and budgets within his Department of Government Efficiency.

Protests, vandalism and financial problems for Tesla

Although the protests against Musk remain largely peaceful, related incidents, including vandalism, could have serious financial consequencesfor Tesla $TSLA. In addition, the company is facing declining sales for the first time in its history due to increasing competition and negative reactions to Musk's political engagement. There have been several major incidents this month: for example, on March 3, a Tesla electric car charging station was set on fire at a shopping mall near Boston.

On the night of Thursday 6 March, police officers responded to a shooting at a Tesla showroom in Portland, Oregon, where at least seven shots were fired, damaging three cars and shattering windows. One bullet pierced an office wall and destroyed a computer monitor. "Although a motive for this attack has not yet been confirmed, we know that several Tesla stores in Oregon and across the country have been targeted in political attacks," Tigard, Oregon, police said.

Another incident happened in Colorado, where Lucy Grace Nelson was charged with federal property destruction for allegedly damaging a Tesla dealership in Loveland, where she spray-painted signs like "Nazi" and threw Molotov cocktails. If convicted, she could face up to 20 years in prison.

Elon Musk and the reaction to the destruction of property

Musk, known for his views on free speech, commented on social media on the incidents, calling the vandalism unacceptable. "Damaging the property of others, which is vandalism, is not free speech," he said in response to one of the publicly shared videos where someone defended the destruction of Tesla as part of free speech. Tesla has not officially commented on the attacks or the protests.

Musk did, however, share his gratitude toward those who support Tesla despite the attacks it has faced: "Sincere thanks to everyone who supports Tesla despite the many attacks against our stores and offices," he wrote on social network X.

Tesla's sales are down, public image problems

The attacks and protests could discourage potential customers who may not be protesting against Musk but fear their new car could be damaged. In fact, Tesla just reported the first annual sales decline in its history, indicating mounting pressure on the brand. While electric vehicle sales in Europe rose 34% in January, Tesla's sales there fell 50%. In China, Tesla's second-largest market, sales fell 29% between January and February. In the U.S., Tesla's sales fell 16% between December and January.

The drop in sales has had a negative impact on Tesla's share price, which has fallen by more than 10% since its peak in the run-up to Christmas. Although Tesla's stock rose 91% after the presidential election, it is currently losing value, suggesting that investors are concerned about Musk's political involvement and its impact on business results.

This situation raises questions about Tesla's future in a period of increasing political polarisation and intense competition in the EV market.

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Source: CNN