Is Tesla's reputation ruined? It depends on who you ask

🌈 Abstract

The article discusses the public perception and reputation of Tesla, based on a survey conducted by the global market research firm YouGov. It examines the "Buzz" around Tesla, which refers to what people are hearing about the brand, and whether there has been a change in the proportion of people considering driving Tesla's electric vehicles (EVs) following recalls and recent negative headlines.

🙋 Q&A

[01] Tesla's Reputation

1. What were the key findings about Tesla's reputation based on the YouGov survey?

• Tesla's Buzz scores remained consistently negative throughout 2023 among the "all US adults" category, with an average score of -7.1 on a scale of -20 to 90.
• Tesla's Buzz scores dipped further following the Autopilot ADAS recall in December.
• However, Tesla's customer base had considerably higher Buzz scores in 2023, meaning they were more likely to say they were hearing positive things about the brand. Current Tesla customers averaged a net Buzz score of 61.8, which steadily increased in the early half of 2023 before stabilizing.

2. How did the survey findings on consumer consideration for Tesla's vehicles compare between Tesla owners and the general public?

• 70% of current Tesla owners said they would consider buying a Tesla for their next car purchase.
• In the "all US adults" category, 7.7% said they would consider a Tesla for their next car purchase, and this percentage has shown no significant change since Q1 2023.
• The survey results suggest that "news of brand recalls has not played a significant role in shaping consumer consideration for the brand, particularly among Tesla's customer base."

[02] Author's Perspective

1. What was the author's personal experience and sentiment towards Tesla?

• The author had previously felt excited and proud when leasing a Tesla Model 3, but now feels disappointed and deflated by recent events at Tesla, such as Elon Musk's layoffs and the decision to wipe out the entire Supercharger team.
• The author is considering not replacing their Tesla Model 3 with another Tesla due to the recent turmoil and changes at the company.

2. What concerns did the author express about the future of Tesla as an automaker?

• The author notes that after the firing of key executives responsible for new vehicle programs, battery development, and the Supercharger network, it would require "blindly optimistic" thinking to believe in Tesla's future as an automaker, as these were considered the three pillars for such a future.