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Elon Musk's Politics Cost Tesla Over 1 Million Sales

10/29/2025

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Summary

Story summary

A National Bureau of Economic Research (NBER) study finds Elon Musk's political activism cost Tesla over 1 million U.S. vehicle sales from October 2022 to April 2025.
The study estimates Tesla's sales would have been 67% to 83% higher without Musk's polarizing actions.
As Musk aligned with the Republican party, sales in Democratic-leaning areas fell, and Democrats' views of Musk became more negative.

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Story summary

A National Bureau of Economic Research (NBER) study finds Elon Musk's political activism cost Tesla over 1 million U.S. vehicle sales from October 2022 to April 2025.
The study estimates Tesla's sales would have been 67% to 83% higher without Musk's polarizing actions.
As Musk aligned with the Republican party, sales in Democratic-leaning areas fell, and Democrats' views of Musk became more negative.