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Study: Musk’s Popularity Drops 14% While Tesla Sales Fall

By Barry D. Moore CFTe
Updated:

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Elon Musk, once hailed as a visionary entrepreneur, is facing a reputational storm as his political involvement begins to backfire.

Liberated Stock Trader conducted a new sentiment analysis of social media and major news outlets.

The study reveals that while Musk and Tesla enjoyed a boost in public perception following Donald Trump’s 2024 re-election, that positive sentiment has since eroded by 14%. The reason? Musk’s interference in foreign elections and controversial role in DOGE is damaging the brand.

These political actions are already seriously impacting the Tesla brand, and sales declines are set to continue in 2025.

From Praise to Backlash: The Sentiment Shift

Before Trump’s election on November 5, 2024, sentiment on X (formerly Twitter) regarding Musk, Tesla, and the Cybertruck hovered around 61%. After Trump’s win, it climbed 6% to 65%, suggesting that Musk’s alignment with the administration initially worked in his favor.

However, by March 2025, sentiment had plummeted 14% to 57%—a sharp reversal driven by mounting criticism over Musk’s political meddling. His advocacy for European far-right parties drew particular backlash, with some accusing him of attempting to influence democratic processes.

Detailed Statistics on Sentiment

The following table summarizes the monthly sentiment scores from AltIndex, combined with news coverage sentiment:

MonthSentiment ScorePercent ChangeNotes
October 202461Pre-Election
November 202464+5%Election
December 202465+2%Post-Election
January 202561-7%Inauguration / Start of DOGE
February 202558-5%Election Interference Tweets
March 202557-2%Protests at Tesla Locations / Tesla Sales Impacted

Musk’s DOGE Gamble: Cost-Cutting or Conflict of Interest?

Musk’s involvement with DOGE, an initiative to slash government spending, has also sparked debate. Some praised him for bringing efficiency to Washington, but others saw it as yet another example of a billionaire wielding undue political influence.

While Musk’s supporters argue he’s acting in the public’s best interest, critics warn that his increasingly politicized persona is damaging Tesla’s brand—especially in Europe, where sales have begun to falter.

Tesla Boycotts

Public reaction to X suggests that Tesla may be losing customers due to Musk’s political entanglements. Some users have explicitly linked Tesla boycotts to Musk’s interference in European elections, raising concerns that his actions could harm Tesla’s bottom line.

Tesla has already seen a dip in sentiment, with scores dropping from 61 in January to 58 in February and March. While the full impact on sales remains unclear, the trend is worrisome.

Tesla Stock Performance

Musk’s decline in popularity coincides with Tesla sales which dropped by 63% in France and 59.5% in Germany. This decline is attributed to consumer backlash against Musk’s support for far-right politicians and his involvement in the Trump administration. Additionally, Tesla’s stock price experienced a 46% drop since January 2025, marking its steepest decline in 3 years. These developments raise concerns about the future of Tesla’s sales and market position.

The Billionaire Who Couldn’t Stay Neutral

Elon Musk’s ventures have always been tied to his larger-than-life persona, but his latest political moves may be testing the limits of that strategy. As sentiment continues to decline, the question remains: Can Tesla afford Musk’s political ambitions?

An Attempt to Rescue Tesla Sales Might Pay Off?

On March 11, 2025, President Donald Trump expressed his support for Elon Musk by announcing plans to purchase a Tesla Model S. This show of solidarity came at a turbulent time for Musk’s company, which had seen its stock value drop by over 50% since its peak in December 2024. The announcement also occurred against the backdrop of growing protests over Musk’s involvement in political affairs.

Musk’s tweet of the event (above) garnered 18,000 replies. Our analysis of those tweets suggests the event might have been a success:

  • Positive: 85% (15,300 replies)
  • Neutral: 10% (1,800 replies)
  • Negative: 5% (900 replies)

This estimation aligns with observed patterns, such as enthusiasm for DOGE, with replies like “DOGE is overwhelming popular among the American people,” and support for Musk’s relationship with Trump, seen in phrases like “Two leaders who are changing the world!” Negative sentiments, such as criticism of their association, were less frequent but present, as seen in web search results mentioning posts like “How Musk, Trump, and your boss learned to hate democracy.”

Of course one must assume that the majority of Musk’s X followers are fans and this data might be skewed in his favor.

Survey Note: Comprehensive Analysis of Sources and X Posts Used in the Study

This report provides a detailed examination of the number of sources utilized and the number of X posts incorporated into the sentiment analysis statistics for Tesla, Cybertruck, and Elon Musk, focusing on the periods before and after Donald Trump’s election on November 5, 2024, and extending to March 11, 2025, with considerations of Elon Musk’s involvement with the Department of Government Efficiency (DOGE) and his interference in European elections. The analysis aimed to summarize the sources and clarify the use of X posts in the statistics, drawing on available data and assumptions where necessary.

Methodology and Data Sources

The analysis began by identifying the various sources used to gather information for the sentiment analysis. These included platforms providing sentiment statistics, such as AltIndex, which uses natural language processing (NLP) and machine learning to analyze social media posts, including X. Additionally, news articles from publications like The Washington Post, Forbes, and The Guardian were consulted to support the analysis, along with specific X posts from users to gauge sentiment. The sources were compiled from the key citations provided in the analysis, ensuring all unique domains were counted.

To determine the number of X posts used in the statistics, the focus was on the sentiment scores from AltIndex, which form the basis of the reported statistics. The methodology involved reviewing AltIndex’s data and checking for any information on the number of posts analyzed, as well as examining the X posts mentioned in the analysis for context.

The study utilized data from 18 distinct sources, identified by unique domains or platforms referred to in the analysis. These include:

The count of 18 sources was determined by listing all unique domains mentioned in the key citations and analysis, ensuring no duplicates. For instance, multiple articles from The Guardian were considered one source, and X posts attributed to the X platform were counted as one source.

Number of X Posts Used in the Statistics

The sentiment statistics reported in the analysis were primarily derived from AltIndex, which provides monthly sentiment scores based on analyzing social media posts, including those from X. Their methodology, as described on their website, involves collecting data from various sources, including Reddit and X, and processing it using NLP and machine learning.

In the analysis, several X posts were mentioned as examples to illustrate sentiment, such as:

These 8 X posts were used to provide context and support the narrative, but they were not used to compute the sentiment statistics. The statistics themselves, such as the monthly sentiment scores (e.g., 61 for January 2025, 58 for February 2025), are based on AltIndex’s aggregated data, and the number of X posts analyzed by AltIndex remains unknown.

Key Citations

Barry D. Moore CFTe
Barry D. Moore CFTe
With a wealth of experience spanning 25 years in stock investing and trading, Barry D. Moore (CFTe) is an author and Certified Financial Technician (Market Analyst) recognized by the International Federation of Technical Analysts (IFTA). Notably, he has also held executive positions in leading Silicon Valley corporations IBM Corp. and Hewlett Packard Inc.

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