- One in three Tesla owners surveyed in the Netherlands are considering selling their car.
- The reason? CEO Elon Musk.
- With more brand diversity than ever, this could spell uncertainty for Tesla in years to come.
In a development that surprises absolutely nobody paying attention to Elon Musk’s recent political escapades, Tesla owners are now seriously considering selling their EVs over the CEO’s antics.
According to a new study by Dutch news outlet, EenVandaag, one in three Tesla owners in the Netherlands are considering selling their Teslas. The survey, which included 26,000 panel members (432 of which are Tesla owners or lessees), found that the owners looking to offload their cars were doing so because of the brand’s face: Elon Musk.
Here’s a brief translated snippet of the study’s findings:
3-in-10 Tesla drivers in the survey are considering selling their Tesla, or have recently done so.
One of them explains: “Musk abuses his power. If I had known what he is like now, I would never have bought a Tesla.” Some of these drivers also plan to put an ‘anti-Musk sticker‘ on their Tesla, in order to distance themselves from the tech billionaire.
For half (51%), Musk’s behavior has little effect on how they feel about their Tesla.
A slightly smaller group (40%) is proud to drive a Tesla. Although they do not always approve of his behavior, they also see Musk as a ‘visionary’, and according to them, you can easily separate the product from the owner.
“There are also composers who make beautiful music and did bad things, that does not make their music less beautiful,” writes a Tesla driver.
From Brand Asset To Liability
Whether or not it’s formally recognized, Musk is a huge asset for Tesla. In fact, despite the CEO not actually being a founding member of the brand, his popularity has not only made him the face of Tesla but also the richest person on the face of the Earth.
Let’s face it—Telsa and Musk have always been inseparable. Some analysts have even claimed that it is “impossible to quantify the value of Musk’s persistence as CEO […] of Tesla in its stock price.” The man single-handedly made it cool to own an EV as he simultaneously launched rockets into space. However, as the threads unwound and Musk became increasingly political, the CEO’s fanbase shifted.
Now his controversial takes on world leaders, his meddling with the government and persistent fraternizing with the president have left many of Tesla’s original adopters buying anti-Musk bumper stickers to separate themselves from the CEO.
Survey respondents from the Netherlands admitted that Musk’s actions and statements were actively making them rethink their loyalty to the brand. And that could have a rippling effect not just on new car sales, but also on the value of used Teslas in the region (and possibly worldwide).
While the survey was aimed specifically at respondents from the Netherlands, Musk doesn’t exactly inspire a warm and fuzzy feeling back in the States, either. Posts have popped up on Reddit following Musk’s so-called “odd-looking” salute at the Presidential inauguration which has sparked owner outcrys, promising to never buy another Tesla as long as Musk is at the helm. Others have called for the Tesla board to fire Musk.
“Elon went from the Henry Ford of our generation to the Henry Ford of our generation,” said one Redditor.
You Can Buy Other EVs Now
Tesla’s potential slip in market share isn’t just the result of a PR nightmare caused by its CEO. The skinny of it all is simply that Tesla isn’t the only player in the EV game anymore. Every brand worth its weight is getting into the electric car space, and that means that buyers now have options
So if a buyer’s loyalty isn’t tied to a particular brand, or rather if they’re dissuaded from purchasing a particular marque for whatever reason, they have a growing number of electrified alternatives to choose from. That alone gives competitors a place to capitalize by the public simply not knowing the name of their CEO.
For many early Tesla owners, buying a Tesla was a statement in itself. One about the environment, about saving money, about status, or even a political statement on its own. Those original owners could be feeling a bit alienated since Tesla may no longer be aligned with their personal beliefs—a calculated danger when a celebrity is the figurehead of the brand.
Will They Stay Or Will They Go?
Despite the outcry, Tesla is still the EV juggernaut in the Netherlands (and beyond). Hell, Tesla holds three of the top 10 best-selling EVs in the U.S., and the Model Y even became the best-selling car in the entire world for 2023.
Those figures alone should tell the world that, despite Musk’s image, Tesla is still selling tons of cars. So are folks voting with their wallet, or are they just indifferent to the face behind the brand? A 30% potential defection rate from a survey is a big deal, but if ownership numbers remain unchanged it won’t really matter. On the flip side, if owners do abscond because of Musk, the CEO could prove to be Tesla’s biggest liability.
The Tesla of today is the product of a vision drawn up by yesterday’s Musk. That’s a double-edged sword. As Musk’s visions change and his antics become more public, buyers could start thinking twice. And as torquey as EVs are, even the quickest of cars can’t outrun bad PR.
