Elon Musk’s reputation is falling — and it’s taking Tesla with it

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Elon Musk’s controversial behavior in recent years is “very likely” to be a contributing factor in Tesla’s declining sales, according to corporate reputation tracking firm Caliber.

Survey data reported by Reuters found that Tesla’s “consideration score” — a metric used by Caliber to track consumer interest in brands, based on how they respond to the prompt “I would buy, or continue buying, products and services from Tesla, if given the chance” — has fallen to 31 percent from its 70 percent high in November 2021, tumbling by 8 percent alone this January. Caliber’s consideration scores for rival EV-producing manufacturers Audi, BMW, and Mercedes, meanwhile, increased slightly during the same period, reaching between 44–47 percent.

Caliber claims 83 percent of Americans it surveyed associated Tesla with Musk, with Caliber CEO Shahar Silbershatz telling Reuters that it’s “very likely that Musk himself is contributing to the reputational downfall.” Additional data supplied to Reuters by brand valuation consultancy Brand Finance show a similar decline in Tesla’s reputation among consumers in the Netherlands, US, UK, France, and Australia between 2023 and 2024.

If Musk’s polarizing behavior is impacting Tesla sales, it’ll be one of several factors at play — the company warned back in January that its growth in 2024 “may be notably lower” than last year as it prepares its vehicle lineup for 2025. Tesla also faces increasing competition from rival EV providers like Rivian and China’s BYD and attributed declining sales to manufacturing delays and shipping disruptions in its Q1 production report.

Bloomberg made similar connections between Musk’s dwindling reputation and Tesla’s volatile stock price over a year ago. He hasn’t exactly made his persona any more palatable since then.



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Elon Musk’s reputation is falling — and it’s taking Tesla with it


Elon Musk’s controversial behavior in recent years is “very likely” to be a contributing factor in Tesla’s declining sales, according to corporate reputation tracking firm Caliber.

Survey data reported by Reuters found that Tesla’s “consideration score” — a metric used by Caliber to track consumer interest in brands, based on how they respond to the prompt “I would buy, or continue buying, products and services from Tesla, if given the chance” — has fallen to 31 percent from its 70 percent high in November 2021, tumbling by 8 percent alone this January. Caliber’s consideration scores for rival EV-producing manufacturers Audi, BMW, and Mercedes, meanwhile, increased slightly during the same period, reaching between 44–47 percent.

Caliber claims 83 percent of Americans it surveyed associated Tesla with Musk, with Caliber CEO Shahar Silbershatz telling Reuters that it’s “very likely that Musk himself is contributing to the reputational downfall.” Additional data supplied to Reuters by brand valuation consultancy Brand Finance show a similar decline in Tesla’s reputation among consumers in the Netherlands, US, UK, France, and Australia between 2023 and 2024.

If Musk’s polarizing behavior is impacting Tesla sales, it’ll be one of several factors at play — the company warned back in January that its growth in 2024 “may be notably lower” than last year as it prepares its vehicle lineup for 2025. Tesla also faces increasing competition from rival EV providers like Rivian and China’s BYD and attributed declining sales to manufacturing delays and shipping disruptions in its Q1 production report.

Bloomberg made similar connections between Musk’s dwindling reputation and Tesla’s volatile stock price over a year ago. He hasn’t exactly made his persona any more palatable since then.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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