Is Tesla losing its charge? The electric car company dropped in value as its CEO ramped up his involvement in the Trump administration.

(Reuters) -Tesla sales in Germany dropped in March compared with the same time last year and were marginally lower in the UK, despite a spike in overall EV sales in both markets, data showed on Thursday.

Tesla Inc.’s sales plummeted 62% last quarter in Germany, a development the outgoing economy minister sees as an opening for the nation’s beleaguered carmakers.

Tesla sales have plummeted to their lowest level in three years after a backlash against its boss Elon Musk. The electric car maker delivered almost 337,000 electric vehicles in the first three months of 2025, a 13% drop from a year ago. Tesla shares tumbled in early trading on Wednesday after the release of the low sales numbers.

Tesla's sales in key European markets fell again in March, data showed on Tuesday, adding to signs that drivers are shunning Elon Musk's electric car brand as competition from China stiffens and some protest against his political views.

CEO Elon Musk pledged Tesla would return to growth this year after the company posted its first-ever sales decline in 2024. But the odds look stacked