“It’s not just about Musk. The Tesla brand will lose $15 billion in value in 2024 January 22, 09:33 Share: Tesla is losing fans (Photo: REUTERS/David Swanson/File Photo) Author: Anastasia Pechenyuk Toyota has become the most valuable brand in the automotive industry with a value of $64.7 billion. Tesla is behind the leader by more than 20 billion dollars. Last year, Tesla’s share price rose by 63%, reaching a record in December, which contributed in particular”, — write on: ua.news
Tesla is losing supporters (Photo: REUTERS/David Swanson/File Photo)
Toyota became the most valuable brand in the automotive industry with a value of 64.7 billion dollars. Tesla is behind the leader by more than 20 billion dollars.
Last year, Tesla’s share price rose by 63%, reaching a record in December, which was helped in particular by the victory of Donald Trump, the president of the United States. But data from analysts shows that consumers’ view of Tesla is very different from its valuation on Wall Street. According to CNBC, according to research and consulting company Brand Finance from London, in 2024 the value of the Tesla brand fell by 26%. The fall is recorded for the second year in a row. The Tesla brand is currently worth approximately $43 billion, although it was valued at $58.3 billion in early 2024 and $66.2 billion in 2023. This is not least due to the controversial rhetoric of company owner Elon Musk and the obsolescence of the model range.
“There are people who think he’s great, but a lot of people don’t. If you’re shopping for electric cars, his persona will likely influence your perception of whether you want to buy one of his company’s cars, but that’s just one of many factors. … If Tesla can’t offer a whole series of new products that really excite consumers, and if it can’t soften a bit the antagonism caused by its leader, the company will be considered as having passed its peak and beginning to decline,” notes the CEO of the London-based analyst of the David Hay Company.
According to Brand Finance, on such key parameters as reputation and willingness to recommend, Tesla’s performance declined in the main markets where it operates factories and sells its cars – Europe and Asia. Tesla has maintained a high loyalty rate in the US (90%), but only 4.3 out of 10 people are ready to recommend the manufacturer (used to be 8.2 out of 10).
Now the most valuable brand in the automotive industry, valued at $64.7 billion, is not Tesla, but Toyota. The second step in the Brand Finance rating was taken by Mercedes with an estimate of 53 billion dollars.
The company received relevant data based on a survey of 175,000 respondents. 16,000 people completed a detailed survey about Tesla.
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