Hundreds of protests at Tesla showrooms have also weighed on the company. Under the banner of a “Tesla Takedown,” opponents of Musk and Trump’s government policies have targeted the company to try to gain leverage over Musk, and demonstrators have continued to swarm Tesla locations, especially on weekends.

Elon Musk, head of the Department of Government Efficiency (DOGE), will reduce his role there to focus on Tesla. Musk cited Tesla's declining net income and increased competition as reasons for the shift in focus.