Investors are questioning whether Tesla's recently weakened stock and slipping sales are due to CEO Elon Musk's political involvement and online presence?
Share who say they have a favorable or unfavorable view of Tesla
Monthly; Survey of at least 61,000 U.S. adults conducted Feb. 18, 2023, to Feb. 18, 2025
Zoom in: Musk has generated endless press coverage and social media attention as the owner of X and leader of the Trump administration's Department of Government Efficiency (DOGE).
More than 300,000 media stories have been written about Musk and his DOGE activities since Jan. 1, according to Muck Rack data.Also since the start of the year, stories mentioning Musk and DOGE have had a readership of more than 387 million, with most of the spikes around legal proceedings and budget cut recommendations, per Memo data shared with Axios.
The big picture: CEOs across industries have become more proactive about communication — whether by embracing community engagement across social channels, modernizing earnings reports or conducting more personal, nontraditional media interviews.
State of play:
Musk's political activities have triggered a partisan divide regarding consumers' views of Tesla.Republican favorability of Tesla hit an all-time high this month, while Democratic favorability dropped to an all-time low. This strongly suggests Musk's Trump ties are influencing consumer sentiment across party lines, per Morning Consult Intelligence data.
By the numbers: 49% of Americans hold negative views of Musk and 32% of U.S. buyers "would not consider" buying a Tesla, up from 27% a year ago, per Morning Consult.Repeat Tesla buyers in blue states dropped from 72% in 2023 to 65% in 2024, according to CNN. Meanwhile, Tesla sales are down 45% year over year in Europe and 15% year over year in China, per a recent Barron's report.Reality check: Increased competition and macroeconomics could also be playing a part in the EV maker's tumbling sales numbers.
Thought bubble from Axios' auto expert Joann Muller and energy reporter Ben Geman: Tesla has grown up and now faces the same trials as legacy automakers.
What is unusual is bumper stickers on your customers' cars that say things like "Anti-Elon Tesla Club." One has to wonder what Musk is doing to protect Tesla's brand while he's busy attacking Washington's bureaucracy. Read more..