Tesla’s (TSLA) shares fell nearly 2% on Tuesday after the results of a poll, which showed that 41% of electric vehicle (EV) drivers across the world would avoid the EV brand over political concerns, hit the headlines.
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The poll was conducted by the Global EV Alliance (GEVA), a coalition of national electric vehicle associations from around the world, between September and October 2025. The survey included more than 26,000 electric vehicle owners in over 30 countries.
U.S. and Germany Lead Tesla Avoidance
Providing further details, the research showed that the avoidance of the Tesla brand was more likely in the U.S. and Germany, where a little over 50% of the respondents from each country stated their reservations. In Norway, previously Tesla’s flagship EV market in Europe, 43% of respondents also aired a similar view.
The poll results come as Elon Musk, in recent months, stirred political controversy after he briefly headed the Department of Government Efficiency to cut governance costs for U.S. President Donald Trump’s administration. However, Musk later fell out with Trump — with whom he was previously close — and left the role.
Will Musk’s Politics Put Tesla in the Firing Line?
The Tesla CEO, who recently secured a historic $1 trillion pay package from the company’s board, also attracted public criticism for his support of far-right movements in Europe. Musk’s hand gesture during Trump’s second inauguration rally earlier in January was also interpreted by some observers as a Nazi salute and greeted with opprobrium.
Musk’s recent political foray has also led to calls for boycotts, including in the UK. However, the EV maker delivered a record 497,099 vehicles globally during its recent third quarter, exceeding analysts’ expectations. Some analysts suggest the performance was boosted by U.S. buyers’ rush to snap up the government’s $7,500 federal EV tax credit that faded out in September.
Nonetheless, Tesla appears to be losing the South American market to Chinese rivals such as BYD (BYDDY), Geely (GELYF), and GWM (GWLLF), according to a Reuters report.
GEVA has explained, however, that the avoidance issue is less prominent in the Global South, where buyers tend to prioritize affordability over politics. Only 12% of EV owners globally said they would avoid buying cars produced in China.
Is Tesla a Buy, Sell, or Hold?
On Wall Street, Tesla’s shares currently have a Hold consensus rating based on 14 Buys, 10 Holds, and 10 Sells issued by 34 analysts over the last three months. Moreover, the average TSLA price target of $384.14 implies over 4% downside risk.
