Tesla has faced a number of issues since President Donald Trump’s inauguration, including plummeting stock prices, fewer deliveries of its electric vehicles and mass protests against Musk at its dealerships. Many Americans are protesting Musk and his efforts to slash federal government spending as a part of the Department of Government Efficiency.

As Tesla faces headwinds in 2025, the company is reportedly refusing to accept its own product, the Cybertruck, as a trade-in for a new vehicle.

Mr. Musk’s involvement in right-wing politics contributed to a 13% drop in deliveries in the first quarter, including steep declines in E.V.-friendly places like Norway.