What is the price to pay for having followed Donald Trump in his protectionist madness? For Elon Musk, this price could be called Tesla. The brand is in free fall on several markets, while the image of its founder crumbles. The signals are red. The technological empire may no longer be eternal. Doubt has immersed itself, and he now nibbles confidence.
In short
- Tesla sales fell heavily in Europe and the United States since the beginning of 2025.
- Musk's closing political image aggravates the disaffection of a historically democratic clientele.
- The Board of Directors is erased, but the hypothesis of a departure flows seriously.
- A Musk departure would cause Tesla to be valued up to 25 %, according to Gary Black.
Tesla facing the wall: fall in sales and political rejection
Tesla crosses An unprecedented period of turbulence. In April, sales fell from 60 % in France. In the rest of Europe, The decline reaches 28 %according to the ACEA. In parallel, the electric cars market increases by 24 %. This brutal contrast illustrates the dropout. In the United States, the figures are not more reassuring: falls in a fall of 71 % in the first quarter.
This underperformance has a political dimension. Elon Musk made the Trump camp champion. He chairs Doge, the government efficiency agency. His positions against trans or in favor of the budget cuts earned him strong criticism. Many Democrats, historic voters of Tesla, turn away from it.
“” Elon Musk is more unpopular than Trump “, underlines Jérôme Viala-Godefroyspecialist in the United States.
The brand, formerly perceived as innovative and green, now undergoes protests and vandalism. Investors are worried. They see a dilution of the attention of a CEO more concerned about politics than by industrial strategy. The dogma of dispersed leadership shows its limits. And while management speaks of ” Change of political sensitivities », Order notebooks are thinning.
Tesla loses ground when Its competitors accelerate. Volkswagen, Renault, Byd gain ground on the electrical segment. The advantage of the pioneer is no longer enough. Musk may pay the price of his ideological fights.
A weakened CEO: denials are no longer enough
On May 1, the Wall Street Journal revealed that Tesla would have started a successor to Elon Musk. The article cites several internal sources. He mentions contacts with recruitment firms. The board of directors would have enough time devoted by Musk to Doge.
On X, the response was immediate. Elon Musk denounced a ” Extremely serious breach of ethics ». Robyn Denholm, president of the CA, supported it:
Tesla's CEO is Elon Musk… The advice is confident.
Tesla Owners Silicon Valley also defended Musk while calling for more transparency.
But speculation does not stop. Evil is done. Several analysts believe that Musk's departure would have a strong impact on valuation. “” If Musk left Tesla completely, the action could drop from 20 to 25 % “Consulates Gary Black. Even a partial withdrawal would cause a decrease of 5 to 10 %.
This scenario shows how much Musk is centralbut also how vulnerable it has become. The advice could seek to limit its role without overthrowing it. Behind the scenes, some members would prefer A less divisive leader. Several investors fear a new governance crisis.
The announced return of Musk full -time does not dissipate the concerns. Especially since he could only be tactical, to defuse an internal sling.
The Empire trembles: black figures and strategic fatigue
Tesla's difficulties read in the figures:
- 60 % lost sales in France in April;
- 71 % less profits in T1 2025;
- 28 % drop in sales in Europe;
- 13 % turnover lost over a year;
- 25 % possible fall in the action in the event of Musk's departure.
These figures are alarming. They translate A double discomfort: politics and industrial. Elon Musk, while remaining central, sometimes seems isolated. Its long -term projects, such as Robotaxis or on -board AI, remain vague. The market no longer believes. He wants results.
Competitors deliver affordable and reliable vehicles. Tesla, positioned on the high -end, reached a Structural limit. The segment is too narrow. The initial promise of an accessible green revolution has turned into an elitist product.
Investors know this. Selling cars does not guarantee extraordinary margins. Tesla can no longer afford strategic hesitation. Musk management divides. His communication choices, his dependence on social networks, his politicization, worry.
Added to this are the trials, disputes, pressure from the Chinese market. For some shareholders, The question is no longer whether Musk is still useful, but if it is still manageable.
While Warren Buffet leaves with elegance, wealth and recognition, Elon Musk could leave Tesla with a crash, disputed, weakened, and a more than fragile economic assessment. Two visions of leadership, two inheritances. One inspires confidence, the other arouses controversy. If Musk leaves, he will have to do it without panic. When the time comes, without tweet. Without brilliance. And without leaving Tesla on the edge of the precipice.
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