Should Elon Musk leave Tesla for Tesla's sake?

The CEO's behaviour is damaging the company's reputation. Some people want to sell their electric car and some don't want to buy it.

Photo by: InsideEVs

By: Francesco Barontini

Jan 27, 2025 at 5:57am ET

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Elon Musk has undoubtedly played a key role in the growth of Tesla, from a small electric car manufacturer to the most highly capitalised company in the world. But things are changing, and for many, Elon Musk is no longer good for the company he has led since 2012.

The reasons are many. The first criticism came at the time of the purchase of Twitter, now X. Analysts and consumers began to think that Musk was becoming increasingly distracted in his management of Tesla, given the success of Space X and the presence of other companies such as The Boring Company or Neuralink.

Then came politics, with support for Donald Trump, often over-the-top statements and an active role in the new US administration. Not everyone liked it.

Two problems to solve

For many, Elon Musk has no time for Tesla (or at least less and less) and is no longer the genius who wants to change the world and lead humanity to a multiplanetary civilisation. Or rather, he is less and less that and more and more a rich and eccentric entrepreneur with delusions of grandeur and a thirst for power, who supported the election campaign of the new president of the United States by spending more money than anyone else.

Without trying to understand the reasons why Elon Musk says what he says and does what he does, the crux of the matter is that his popularity is falling, and Tesla is suffering badly as a result. Want examples? Let's start with an analysis by research firm Brand Finance, which says that the brand is currently worth around $43 billion: $15 billion less than in 2023 (when it was valued at $58.3 billion).

Tesla is worth less than Toyota and Mercedes

Speaking of cars, Brand Finance says that both Toyota ($65bn) and Mercedes ($53bn) are worth more. But beware: this index is not a snapshot of the value of shares, which have risen 96% in a year, largely on the back of efforts in robotics and artificial intelligence; it is an attempt to give an overall view of a company's health.

Brand Finance conducted 16,000 interviews and gathered a lot of information about how people currently view Tesla. Its reputation has declined globally. In Europe, for example, the number of people who would consider buying a Tesla has fallen from 21 per cent to 15 per cent.

The new Tesla Model Y

Photo by: Tesla

Another survey of 26,000 drivers by the Dutch newspaper EenVandaag produced disturbing results: 1 in 3 would like to sell their Tesla because of Elon Musk's behaviour and statements. It is also true that 51% of those surveyed believe that Musk's actions have little effect on the company's sales, and that 40% still say they are proud to own a Tesla.

However, there are many signs that attitudes towards the house are changing. There are gamers calling for the Cybertruck to be removed from Fortnite, and people on social networks such as Reddit or TikTok putting their Teslas up for sale due to 'incompatible views' with the CEO. There are customers who buy stickers to put on their cars with messages such as 'Anti Elon Tesla Club' or 'I bought this car before I knew Elon was crazy'.

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The anti-Musk stickers that are sold online

Photo by: InsideEVs

The competition wants to ride the momentum

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If Elon Musk were to take a step back from Tesla, would it be for the good of the company? Hard to say. But the competition is gloating. Many manufacturers believe they can use the momentum to persuade Tesla owners to switch. Michael Lohscheller, CEO of Polestar, doesn't mince his words and is convinced that Elon Musk's political ideas are an opportunity for the Swedish company.

Announcements and proclamations aside, what will actually happen? Perhaps the first concrete signs of what kind of future Tesla is heading for will have to wait for the sales figures for the first quarter of 2025. That is still some time away.