Tesla, once a symbol of environmental awareness and innovation, is facing an image problem. The brand’s popularity plummeted after CEO Elon Musk’s actions raised concerns about his commitment to climate change. This has led to a decline in new car sales in Europe and China, with stiffer competition from local brands.
The stigma surrounding Tesla ownership is also growing, with owners facing opprobrium for their choice of electric vehicle. Some have even sold their cars due to Musk’s politics, despite the significant financial burden associated with such a decision. Many Tesla owners are struggling financially, making it difficult for them to abandon their vehicles.
As a result, Tesla’s share price has taken a hit, and prices of used Teslas in the US have decreased. The brand’s reputation is suffering, and it remains to be seen how Musk will restore public trust. One thing is certain: Tesla’s future success depends on its ability to balance innovation with responsible leadership.
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Source: https://arstechnica.com/cars/2025/03/used-tesla-prices-tumble-as-embarrassed-owners-look-to-sell