A growing number of Americans are ready to ditch the two-party system—but not if Elon Musk is at the helm.

A new CNN poll reveals that 63% of U.S. adults would support the creation of a third political party to challenge the entrenched dominance of Democrats and Republicans in presidential and congressional elections. However, support sharply drops when tech billionaire Elon Musk is involved.

Despite his massive online following and wealth, only 25% of Americans say they would support a third party led by Musk. An overwhelming 74% oppose the idea, according to polling data cited by MassLive. CNN’s own data analyst Harry Enten didn’t mince words, declaring on X: “Jeez Louise, Musk’s 3rd party looks close to dead on arrival.”

Musk recently announced the formation of what he’s calling the “America Party,” unveiling the move just one day after President Donald J. Trump signed the landmark “One Big Beautiful Bill” into law—a transformative legislative package aimed at revitalizing American manufacturing, energy independence, and budget accountability.

Musk, who once advised President Trump, broke with the administration over the bill, claiming it didn’t go far enough in dismantling Washington corruption. “When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” Musk posted. “Today, the America Party is formed to give you back your freedom.”

But it appears few Americans are buying what Musk is selling.

His personal favorability is also in decline. Just 23% of respondents view him positively, while 60% see him in a negative light, according to the poll. The survey was conducted July 10–13 with a representative sample of 1,057 adults and carries a margin of error of ±3.5%.

Even President Trump has taken a jab at Musk’s venture, questioning both its viability and Musk’s judgment.

“He even wants to start a third political party, despite the fact that they have never succeeded in the United States,” Trump wrote on Truth Social. “The system seems not designed for them.” The President also referred to Musk as a “train wreck,” a blunt assessment of his former government adviser’s latest political gamble.

Meanwhile, Musk’s flagship company Tesla is facing serious headwinds—especially with the much-hyped Cybertruck.

According to data from Cox Automotive, Cybertruck sales plunged 51% year-over-year in Q2 2025, with only 4,300 units sold. This sharp drop comes despite earlier boasts from Tesla about having more than 2 million reservations and production capacity lined up for the next decade and a half.

Even worse, the Cybertruck is losing ground to legacy automakers. Both the Ford F-150 Lightning and the GMC Hummer EV outsold Tesla’s futuristic pickup last quarter.

Cox Automotive summed up the sentiment: “Suffice it to say, the hyper-competitive EV market is providing the troubled automaker no relief.”

The Cybertruck’s price inflation hasn’t helped. While it was originally pitched in 2019 with a base price of around $50,000, the most popular model today—the dual-motor, all-wheel-drive version—starts at a steep $80,000 before add-ons.

And Tesla continues to stay silent on the poor performance. The company, which only reports global delivery figures without model-specific breakdowns, declined to comment when pressed by Fortune.

With faltering political support and shrinking market dominance, Elon Musk may be learning the hard way that America’s future doesn’t revolve around tech billionaires.