From falling market shares to acts of vandalism, Tesla’s tumultuous year deepens. As Elon Musk’s role in the Trump administration fuels backlash, the company’s reputation and financial stability hang in the balance.
BY PC Bureau
Tesla’s tumultuous year continues as a dealership in Oregon was targeted by gunfire for the second time in a week, amidst growing protests and backlash against CEO Elon Musk, reports US media.
. The incidents coincide with the company’s declining market share, falling stock prices, and Musk’s controversial role in the Trump administration.
Around 4:15 a.m. on Thursday, more than a dozen shots were fired at a Tesla dealership in Tigard, a suburb of Portland, according to the Tigard Police Department. The attack caused extensive damage to cars and showroom windows, though no injuries were reported. A similar shooting occurred at the same location on March 6, prompting a joint investigation involving the FBI and the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF). An ATF explosive detection dog was used to search for shell casings after both incidents.
Tesla has become a focal point for protests across the U.S. and internationally this year, primarily due to Musk’s role as head of the Department of Government Efficiency (DOGE) under the Trump administration. The department has pushed for significant cuts to federal agencies, sparking public outcry.
ALSO READ: Will India Provide lifeline to Embattled Tesla?
The backlash has escalated to vandalism, with six Tesla Cybertrucks in Lynnwood, Washington, spray-painted with swastikas and profanity targeting Musk. Just days later, four Cybertrucks were destroyed in a fire in Seattle. Authorities have not confirmed whether the fires were intentional but are working with federal partners to investigate.
Gunshots were fired at a Tesla dealership in Oregon on Thur for the second time in a week as vandalism and protests continue around the country since Musk became a key figure in the Donald admin. Seattle Fire Dept inspects a burned Tesla Cybertruck at a Tesla lot in Seattle.🙄 pic.twitter.com/GxcXT3SFed
— Sumner (@renmusb1) March 14, 2025
Tesla’s financial struggles have compounded the backlash. Once the undeniable leader of the electric vehicle market, the company has been losing ground to established automakers and emerging EV startups. In 2024, Tesla’s market share fell below 15% for the first time in over a decade as competitors like Ford, General Motors, and Rivian launched more affordable and reliable EVs.
Adding to its woes, Tesla’s controversial pricing strategies — frequent price cuts followed by sudden hikes — have confused consumers and hurt brand loyalty. Reports of declining vehicle quality, including issues with autopilot malfunctions, battery reliability, and production delays, have further eroded trust in the company.
Musk’s involvement in the Trump administration has also alienated a segment of Tesla’s customer base, historically composed of environmentally conscious, progressive-minded buyers. As public sentiment turned, Tesla’s stock value plummeted, wiping out nearly $300 billion in market capitalization over the past year. Last week alone, the company saw a staggering $29 billion loss in market value in a single day.
Despite the challenges, President Donald Trump has openly supported Musk, announcing plans to purchase a Tesla to show solidarity with the billionaire entrepreneur. The move has sparked mixed reactions, further polarizing public opinion about Musk and Tesla.
As Tesla grapples with market instability, the controversy surrounding Musk’s political ties has heightened the tension, leaving the company’s future uncertain amid both financial and reputational turmoil.
