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Business diary - events coming up

Tesla's Brand Value Nosedives As Musk's Politics And Aging Lineup Hit Reputation

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. -s-politics-and-aging-lineup-hit-reputation.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  After years at the forefront of the electric vehicle revolution, raising its reputation among consumers and boosting its profits in the process, Tesla is now on a downward spiral. The company saw its deliveries drop for the first time in a decade last year,

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The article from MSN discusses how Tesla's brand value has significantly declined, dropping by 12% to $66.2 billion, according to Brand Finance's Global 500 2024 report. This decline is attributed to several factors including Elon Musk's controversial political statements and actions, which have negatively impacted Tesla's reputation. Additionally, Tesla's aging product lineup and increasing competition in the electric vehicle market have contributed to this downturn. The report highlights that Musk's behavior has led to a loss of trust among consumers, with Tesla's brand strength falling from 89.7 to 87.7 out of 100. Furthermore, Tesla's failure to refresh its models and the growing presence of competitors offering new electric vehicles have eroded Tesla's market dominance. Despite these challenges, Tesla remains the top automotive brand globally, but its lead is diminishing.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/technology/tech-companies/tesla-s-brand-value-nosedives-as-musk-s-politics-and-aging-lineup-hit-reputation/ar-AA1xFs6Y ]


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