Tesla’s Europe sales plunge for 5th straight month over lingering Musk brand damage

European sales of Tesla vehicles plunged for the fifth month in a row as the company continues to suffer fallout from Elon Musk’s cost-cutting stint in the Trump administration. 

Tesla’s new car sales plummeted 27.9% in May from the year before, according to data from the European Automobile Manufacturers Association.

It’s failing to keep up with a broader trend of sales growth, as electric vehicle sales jumped 27.2% in the region and overall car sales rose 1.9%, according to the EAMA.

Tesla electric vehicles parked at a delivery center near Paris, France. REUTERS

The automaker was banking on its revised Model Y – a fully-electric, mid-size SUV – to boost sales overseas.

But an outbreak of protests and vandalism targeting Tesla over Musk’s now-defunct role in the White House’s Department of Government Efficiency have left behind lasting brand damage.

“The Musk brand damage from his political chapter with Trump is being felt most in Europe with sales remaining very weak,” Wedbush Securities analyst Dan Ives told The Post.

“[The] Model Y refresh should be able to turn around some of these headwinds but the reality is the Europe EV market remains an Everest-like uphill climb for Musk and Tesla,” the Tesla bull added.

Tesla’s European market share fell to just 1.2% in May – down from 1.8% the year before.

Customers have been switching over to rival Chinese automakers, which sold 65,808 cars in Europe last month and doubled their share of the market to 5.9%, according to data from Jato Dynamics.

Tesla rival BYD registered nearly as many vehicles as Tesla in May after outselling Musk’s brand the month before.

Elon Musk’s Tesla is suffering brand damage from his role in the White House. REUTERS

In the first quarter, the Shenzhen-based firm doubled its profits to $1.3 billion after reporting annual revenue that leapfrogged past Tesla’s to break the $100 billion mark.

Total car sales have fallen 0.6% in the European Union so far this year, but demand for EVs has been growing.

Registrations of battery-electric (BEV), plug-in hybrid (PHEV) and hybrid-electric (HEV) vehicles have jumped 26.1%, 15% and 19.8%, respectively, so far this year.

Sales of these electric cars accounted for a whopping 58.9% of EU passenger car registrations  in May, up from 48.9% the year before, according to the data.