The European automotive industry is facing a crisis, with both traditional manufacturers like Mercedes and Volkswagen and new electric vehicle providers struggling. The exact cause of the decline is disputed, with some market analysts attributing it to a combination of factors, including a shrinking European economy and declining consumer purchasing power.
One of the companies most affected by the crisis is Tesla, with its CEO Elon Musk facing a global backlash. Sales have been declining worldwide, particularly in the US and Europe, with a significant drop in new vehicle registrations in Switzerland, according to data from the Swiss Federal Roads Office (Astra).
In the first quarter of 2025, only 1,195 new Tesla vehicles were registered in Switzerland, a 65% decline from the previous year. The decline was particularly pronounced in February and March.
Tesla’s stock has also taken a hit, falling by around 45.9% since January 20, 2025. The company’s public support for Donald Trump and its ties to right-wing political circles have sparked international outrage.
In several countries, including Italy and France, protests and vandalism against Tesla vehicles have been reported. In Switzerland, there have been reports of damaged or vandalized cars.
Tesla’s market share in Switzerland currently stands at around 2.4%, a significant decline from its previous position. Despite the overall decline, the Model Y remains the best-selling electric vehicle in the country.
The negative trend is also reflected in international financial markets, with the Tesla stock price falling by 38% since the start of the year. Despite this decline, Tesla remains the world’s most valuable automaker, with a market capitalization of $848 billion.
Toyota comes in second, with a market capitalization of $276 billion, while the Chinese manufacturer BYD takes third place with $159 billion.
The boycott of Tesla is largely spreading through social media, with images of damaged or burned vehicles circulating worldwide and contributing to the negative sentiment. At the same time, efforts are being made on platforms like X (formerly Twitter) to identify and publicly shame vandals, a development that has led to numerous humorous videos. For affected Tesla owners, however, this may be little comfort.