Consumers don’t want to be associated with Tesla.
Tesla Tank
Tesla sales are falling off a cliff in key markets around the world — as its CEO Elon Musk continues working overtime to tank not just his own reputation but that of his embattled carmaker.
Sales in California fell almost eight percent in the fourth quarter of last year and are down 12 percent overall for the year, as Bloomberg reports. Annual registrations for the company’s best-selling vehicle, the Model 3, slide by over a third in the state. (As a harbinger of the trouble, Tesla posted its first yearly sales drop in over a decade last month.)
Similarly, the EV maker’s performance is down in almost every single European market, with year-over-year sales dropping over 63 percent in France — as Musk has threatened to upend the continent by throwing his weight behind a political party linked to neo-Nazism in Germany.
Even in Sweden and Norway, key markets for the company, Tesla is losing significant market share, as Reuters reports — despite car sales overall soaring there.
While it’s unclear exactly how much Musk’s bizarre and polarizing behavior is contributing to Tesla’s woes, surveys show it’s definitely a factor, with consumers choosing alternatives rather than driving a “giant red MAGA hat.”
Naz-EV
A recent survey showed that the proportion of Swedes viewing Tesla in a positive light slid to an abysmal 11 following Trump’s inauguration, according to Reuters. It’s a significant change of heart, considering Tesla’s Model Y was the most-sold car in both Sweden and Norway last year.
Another survey by brand reputation analytics firm Caliber, reviewed by Bloomberg, also showed that Tesla’s reputation dipped to its lowest levels since at least 2023 in November and January.
Meanwhile, EV alternatives including those by Honda and Hyundai are starting to really eat into Tesla’s market share, with strong end-of-year sales.
In short, it’s not surprising to see consumers abandon Tesla’s brand, which has been dragged through the mud by the troubling behavior of its CEO.
Apart from Tesla’s tanking reputation, investors have long warned that the EV maker’s lineup is starting to look stale, despite the launch of a divisive and extremely problems-prone pickup truck in late 2022. Musk has bet big on the development of a “robotaxi,” which given the sorry state of the company’s driver assistance software, likely won’t be ready for deliveries for quite some time.
Overall, Tesla has now slid to the fourth most valuable car brand globally, according to a recent Brand Finance report, with Japanese carmaker Toyota claiming the number one spot.
More on Tesla: Elon Musk Finally Admits That Teslas Don’t Have What It Takes for Full Self-Driving
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