Republicans, particularly those in Congress, have been overwhelmingly supportive of broad cuts across the federal government at the hands of Elon Musk’s Department of Government Efficiency

This suggests that the reaction of consumers to Mr Musk’s antics are only one reason for falling sales. An updated Model Y, Tesla’s best-selling vehicle, has just gone on sale. In preparation Tesla ran down inventory of the old model, crimping supply. Customers have doubtless held off purchases until the new car is available.

Tesla, Inc.'s stock faces pressure from declining fundamentals, Musk's polarizing actions, and overvaluation concerns. Click for my updated look at TSLA stock.

Tesla now faces headwinds from the president Musk helped elect. Trump, a frequent EV critic, has called for scrapping EV subsidies and policies that have added billions of dollars to Tesla’s bottom line. Musk has dismissed the impact on Tesla of losing subsidies, saying rivals would suffer more.