Tesla said it delivered 384,122 vehicles in the second quarter, down 13.5% from 443,956 units a year ago

Tesla posted another big drop in quarterly deliveries on Wednesday, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk’s political stance and an ageing vehicle lineup.

The stock has lost 25% of its value so far this year as investors feared brand damage in Europe, where sales have slumped most sharply, and in the US from Musk’s embrace of rightwing politics and his role in spearheading the Trump administration’s cost-cutting effort.

The day Trump and Musk split publicly in early June, Tesla lost about $150bn in market value. Its share price has somewhat recovered in the ensuing month, but Trump and Musk have likewise reignited their feud as they spar over Trump’s sweeping tax bill.