Elon Musk's backing of Trump is hurting Tesla's struggling EV business in Europe

Elon Musk's endorsement of Donald Trump is reportedly impacting Tesla's electric vehicle (EV) sales in Europe. The German drugstore chain Rossmann announced it would suspend Tesla vehicle purchases due to Musk's political stance, which contrasts with Tesla's mission of promoting environmental sustainability. Rossmann's spokesperson highlighted that Trump's views on climate change, which he has labeled a hoax, conflict with Tesla's goals. This decision marks a significant move as Rossmann is the first major company to cite Musk's political support as a reason for halting future purchases. Other companies, like SAP, have also ceased Tesla orders for different reasons, including concerns over price cuts affecting vehicle value. The European EV market is facing challenges, with declining demand and increased competition, further complicating Tesla's position. Musk's political actions, including forming a political action committee supporting Trump, have raised questions about the potential repercussions for his businesses. As the U.S. election approaches, the implications of Musk's political affiliations on Tesla's operations in Europe and beyond may continue to evolve.

- Musk's support for Trump is affecting Tesla's sales in Europe.

- Rossmann, a major German drugstore chain, has suspended Tesla purchases due to Musk's political stance.

- Other companies, like SAP, have also stopped Tesla orders for various reasons.

- The European EV market is experiencing declining demand and increased competition.

- Musk's political actions may have broader implications for Tesla's business strategy.