Elon Musk’s Impact on Tesla’s Resales Revealed: Study Shows Surprising Consequences

2023-07-29 12:12:00

Most of Tesla’s resales are because of Elon Musk. This is revealed by a study, which confirms the consequences of the behavior of the billionaire.

We knew that Elon Musk had the power to bring Tesla’s stock down with the snap of a finger. Or in this case, in a few finger movements that ended up giving birth to a tweet.

But what wasn’t yet clear was the impact of his stance on Tesla’s sales. We now have a little idea, with a Bloomberg survey of 5,000 Model 3 owners.

Elon Musk’s behavior, and in particular his propensity to give voice to the far right and various conspiracy theories on Twitter, has indeed convinced users to change brands.

Thus, 21.5% of people who sold their Tesla and left the brand did so by “disapproval” by Musk. This is the primary reason, in the face of “concerns regarding quality or service” (18,7 %).

Next is a lack of satisfaction with the perception of the Tesla brand (17.8%). The too high cost of the vehicle, certainly in terms of monthly rent, comes in fourth place for 13.1% of respondents.

Miscellaneous other causes account for 11.2% of responses, just ahead of a lack of styling options (10.3%). We also learn that 7.5% of users have returned to a petrol car “for simplicity”.

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