Investors are looking for evidence Musk’s politics are hurting Tesla. It’s hard to find, but California might be turning against Musk—slowly.

Tesla sold 203,221 vehicles in California last year, down from 230,010 in 2023. Due to the decline in sales, Tesla’s market share dropped from 60.1% to 7.6%. The Model Y was California’s best-seller, delivering twice as many units as the RAV4.

While other business factors also came into play, Tesla likely lost business in California as a result of the role Elon Musk played in the U.S. election.

Tesla Inc. registrations plummeted 63% last month in France, the European Union’s second-biggest market for battery-electric vehicles.

Tesla’s sales have dropped by double digits in California, the most important EV market in the US, all while the rest of the EV market is growing. California is the biggest market for electric vehicles in the US and by a wide margin.