Tesla’s Brand Value Drops: Here's Why

Tesla’s brand value took a big hit last year, falling by 26%, according to a recent analysis. This is the second year in a row that the electric car company has seen its brand value drop. Experts point to a few reasons for this decline. One is that Tesla's lineup of cars is getting older, and they haven't been updated as much as some people would like. Additionally, Elon Musk, the company's CEO, has been involved in some controversial activities and statements. This has led to mixed feelings among consumers about the brand. While Tesla's stock price did well last year, the public's view of the company has been more negative. Surveys showed that people's desire to buy Tesla cars, their opinion of the brand, and how likely they are to recommend it have all dropped. This is true in the U. S. , Europe, and Asia, where Tesla operates. Even though many customers who already own a Tesla car are happy with it, the number of people who would recommend it has gone down. The company's overall reputation score has also dropped. This could mean that Tesla might have a harder time selling as many cars or charging as much for them in the future. Last year, Tesla delivered fewer cars than the year before, even though demand for electric cars was growing worldwide. In the U. S. , Tesla's market share for electric vehicles also dropped. Tesla needs to come up with new and exciting products to win back consumers and reduce the negative impact of Musk's actions, experts say. Other companies Musk leads, like SpaceX and the rebranded Twitter now called X, have also seen changes in their brand value. SpaceX's value increased slightly, while X's value dropped significantly since the name change from Twitter.