"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 sale of these credits was a major source of revenue."
An SEC filing shows Tesla spent $10,000 on ads on X in the first two months of 2025, projecting $60,000 for the full year versus $400,000 in 2024. Elon Musk, who owns X, was pressured by shareholders to begin advertising in 2023. Ad spending has fallen as Tesla faces sliding sales and growing competition from Chinese EV makers like BYD, with European sales declining for five consecutive months. The Trump Administration's Big Beautiful Bill removes the need for automakers to purchase carbon credits, cutting a major Tesla revenue stream. Tesla rolled out incentives and discounts in the U.S. and a filing proposed a roughly $29 billion share pay package for Musk.
Read at Mashable
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