Hundreds of protests at Tesla showrooms have also weighed on the company. Under the banner of a “Tesla Takedown,” opponents of Musk and Trump’s government policies have targeted the company to try to gain leverage over Musk, and demonstrators have continued to swarm Tesla locations, especially on weekends.

Tesla boss Elon Musk said he will cut back his role in the Trump administration as the company's latest profits and revenues showed a plunge during the beginning of the year. Sales have slumped, and the brand has faced backlash as Musk became a political fixture in the new White House administration.