"According to a recent SEC filing, Tesla spent $10,000 on ads on X in the first two months of 2025, per TechCrunch, which would amount to a total of $60,000 for the full year, if that amount of spending continues. By comparison, Tesla spent $400,000 on X ads in 2024. Elon Musk, who is the co-founder and CEO of Tesla and owner of X, was pressured byshareholders to start advertising for Tesla in 2023, according to the report."
"The decrease in ad spending comes at a time when Tesla is struggling with sales and competition from Chinese EVs. Tesla sales plummeted in Europe this past spring, and by June, had been on the decline in the region five months in a row. Around the same time, Tesla fell behind Chinese EV manufacturer BYD in Europe. Meanwhile, the Trump Administration's Big Beautiful Bill is eliminating the need for car manufacturers to purchase carbon credits."
Tesla's spending on ads on X dropped to $10,000 in the first two months of 2025, projecting $60,000 annually versus $400,000 in 2024. Shareholders had pressured Elon Musk to start advertising in 2023. The ad cutback coincides with falling sales and increased competition from Chinese electric vehicle makers, including BYD, and a five-month decline in European sales. The Trump Administration's Big Beautiful Bill removes the requirement for carmakers to buy carbon credits, reducing a key Tesla revenue source. Tesla introduced incentives and discounts in the U.S. to clear inventory before tax-credit changes, and proposed a roughly $29 billion share pay package for Musk tied to increased involvement.
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