Tesla has fallen behind both Toyota and Mercedes-Benz in terms of brand value, dropping to $43 billion from $58.3 billion in just one year. This decline reflects a focus on real-world product performance rather than the speculative high stock valuation driven by its AI ambitions. Brand Finance's analysis indicated sharp decreases in Tesla's consideration and recommendation scores due to factors like the lack of new models and Elon Musk’s controversial public presence. While brand loyalty remains strong in the U.S., global perception of Tesla is suffering significantly.
Tesla's brand value has nosedived for consecutive years, falling to $43 billion at the start of this year compared to $58.3 billion a year ago.
The study attempts to paint a real picture of where Tesla stands relative to the competition; brand value focuses more on product and service performance.
Tesla's consideration score dropped from 21% to 15% in Europe and its recommendation score decreased from 8.2 to 4.3 on a scale of 10.
Brand Finance's analysis revealed that Tesla's reputation and consideration scores fell due to a lack of new models and CEO Musk's culture wars.
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