Make Tesla Small Again
Elon Musk's pandering to Donald Trump's far-right supporters is emerging as a serious threat to his wealth.
Lies, mass layoffs, far-right rhetoric, the Hitler salute — there has been no shortage of bigger and smaller scandals involving Elon Musk in recent months. The richest man in the world has aligned himself with Donald Trump and is now evidently enjoying his role as a special government employee responsible for exposing primarily fictitious waste of taxpayer money. This clearly appeals to Trump's base. However, as sales figures show, it doesn't appeal to Tesla customers, the main source of Musk's wealth.
In the U.S., Tesla's market share has sharply declined, while in Europe, sales have dropped by 50% in some instances — and these developments have taken place against a backdrop of strong market growth. A slump of this magnitude cannot be explained solely by the fact that the competition has grown stronger. It is a welcome sign that consumers are not completely indifferent to the political views of companies and their bosses. Or, to put it another way: Hate doesn't sell well. The brand has been damaged.
Competitors Are Celebrating
The company’s competitors can celebrate, as Tesla owners who are willing to shop around are now flooding in, which also presents an opportunity for the European car industry. Trump's MAGA crowd won't save Musk's company. That's because they believe man-made climate change is a hoax, applaud the "drill, baby, drill" slogan and certainly don't plan on buying an electric car. Make Tesla small again.
Lies, mass layoffs, far-right rhetoric, the Hitler salute — there has been no shortage of bigger and smaller scandals involving Elon Musk in recent months. The richest man in the world has aligned himself with Donald Trump and is now evidently enjoying his role as a special government employee responsible for exposing primarily fictitious waste of taxpayer money. This clearly appeals to Trump's base. However, as sales figures show, it doesn't appeal to Tesla customers, the main source of Musk's wealth.
In the U.S., Tesla's market share has sharply declined, while in Europe, sales have dropped by 50% in some instances — and these developments have taken place against a backdrop of strong market growth. A slump of this magnitude cannot be explained solely by the fact that the competition has grown stronger. It is a welcome sign that consumers are not completely indifferent to the political views of companies and their bosses. Or, to put it another way: Hate doesn't sell well. The brand has been damaged.
Competitors Are Celebrating
The company’s competitors can celebrate, as Tesla owners who are willing to shop around are now flooding in, which also presents an opportunity for the European car industry. Trump's MAGA crowd won't save Musk's company. That's because they believe man-made climate change is a hoax, applaud the "drill, baby, drill" slogan and certainly don't plan on buying an electric car. Make Tesla small again.
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