Tesla Stocks Dive After 'Takedown' Protests

Tesla’s stock fell sharply this week as “Tesla Takedown” protests against CEO Elon Musk‘s political influence and actions continue to spread across Western countries.

The company’s market value declined by 4 percent during the same weekend that Musk stepped up his political activism with a rally in Wisconsin.

Newsweek contacted Tesla for comment on the protests via email.

The Context

Tesla’s market decline is a sign that Musk is increasingly viewed as a polarizing political actor, with the targeting of the company continuing as the CEO has become more and more politically influential in President Donald Trump‘s administration.

The Department of Government Efficiency (DOGE), led by Musk, has initiated significant workforce reductions across multiple federal agencies, resulting in the termination of over 200,000 federal employees. These layoffs are part of DOGE’s broader strategy to streamline government operations and reduce spending. However, the exact number of layoffs continues to evolve as the initiative progresses.

The “Tesla Takedown” movement emerged in early 2025 as a grassroots response to Musk’s involvement in the U.S. government and the DOGE. Protesters are concerned about the potential erosion of democratic norms and the influence of a tech billionaire in governmental affairs. The movement encourages individuals to sell their Tesla vehicles and stock, aiming to impact Musk economically and challenge his political influence.

What To Know

Shares of Tesla dropped roughly 4 percent in premarket trading Monday and are down 35 percent so far in 2025.

Analysts expect first-quarter deliveries to decline by as much as 3.6 percent year-over-year, signaling the automaker’s continued slide from its peak, Reuters reported.

Musk himself has admitted that his association with the Trump administration was costly, saying at the Wisconsin rally, organized to raise support for the state’s Supreme Court election, that he was under huge pressure.

“It’s costing me a lot to be in this job,” Musk said. “What they’re trying to do is put massive pressure on me, and Tesla, I guess, to stop doing this. My Tesla stock and the stock of everyone who holds Tesla has gone in half. It’s a big deal.”

The protests, part of a movement dubbed “Tesla Takedown,” have targeted dealerships across the U.S. and abroad, with demonstrators rallying against Musk’s role in reducing federal programs and slashing government staff at the Department of Government Efficiency.

March saw increasing reports of vandalism to Tesla vehicles and dealerships in multiple states. The FBI is still investigating an incident in Kansas City in which multiple Cybertrucks were damaged at a Tesla dealership.

The Tesla Takedown movement organized protests outside the U.S., with both Ottawa and Vancouver seeing dozens of demonstrators gathering outside Tesla dealerships. On March 29, demonstrations were held at Tesla dealerships in nations including the United Kingdom, Germany, France, the Netherlands, Norway, Finland, and Denmark. In London, for example, protesters gathered outside a Tesla showroom, holding signs such as “Honk if you hate Elon” and “Don’t buy Nazi cars.” Similar protests took place in Amsterdam, The Hague, and Tilburg in the Netherlands, organized by Tesla Takedown UK and spreading across the continent.

What People Are Saying

Tesla Takedown said in a statement to Newsweek: “We are a nonviolent grassroots protest movement. We oppose violence and destruction of property. Peaceful protest on public property is not domestic terrorism. They are trying to intimidate us. We will not let them succeed.

“We will not be bullied or allow our rights to be trampled on or stolen. If you’re ready to show Donald Trump and Elon Musk that there are no kings in America, join a Tesla Takedown protest in your community this weekend.”

What Happens Next

Tesla is expected to report its first-quarter delivery numbers on Wednesday. The statistics will reveal the impact of Musk’s work with Trump on his most important company.