NEW YORK (AP) — Sales of Tesla electric cars fell 13% in the last three months as boycotts over Elon Musk's political views continue to keep buyers away, a significant development given expectations that anger with the company's billionaire CEO would have faded by now.
The plunging sales add to growing signs that Musk's embrace of U.S. President Donald Trump and far-right politicians in Europe has had a deep and enduring hit to the Tesla’s brand appeal. The new figures also are a possible sign that Tesla could disappoint when it announces second quarter earnings later this month. In the first three months this year, net income fell 71%.
Sales fell to 384,122 in April through June, down from 443,956 in the same period last year. During this period, Musk formally left the Trump administration as a cost-cutting czar and hopes rose that sales would recover.
Sales of the Models 3 and Y totaled 373,728, above the estimate of 356,000 from Wall Street analysts. Tesla shares rose about 4% in premarket trading.