'Elon Musk has made me embarrassed to drive my Tesla now'

by Lindsey Francy Jan 29, 2023 News
Anne Marie Squeo
Anne Marie Squeo says driving her Tesla has become embarrassing

The marketing and communications professional felt like she had joined a club of people who were doing something to help the environment when she got her red car.

Last year, as Musk shared right-wing conspiracy theories on social media, Anne Marie's satisfaction gave way to shame.

Anne Marie, a former journalist who lives in Connecticut, wrote an article about her feelings about being in a car. I was wondering if people were making a judgement about me.

Musk's constant stream of politically charged social media posts is alienating key parts of the company's customer base, just as increased competition is eating away at the firm's dominance.

It was the biggest decline since the company went public in 2010 and reflected worries about disruptions to production and the effect of high borrowing costs on the economy.

Many of Mr Musk's long-time allies went public with their alarm in December, accusing him of abandoning the company and damaging it.

A line chart showing the price of Tesla stock, which peaked at $410 in November 2021, is now $172 per share.
A line chart showing the price of Tesla stock, which peaked at $410 in November 2021, is now $172 per share.

The fact that Mr Musk sold a large amount of shares did not help the stock.

It costs everyone a lot of money. According to investor Ross Gerber, who is now seeking a seat on the board of directors, it didn't protect shareholders and he wants to change that.

The head of a firm that invests in Musk's company says he is still optimistic about the company's future despite the stock's recent decline.

He wants the company to have a dedicated chief executive and a distinct voice.

He says it's hard to believe that there is a positive advertising force for the company.

Mr Musk, who has more than 127 million followers on the social media site, said his mass following speaks for itself.

Major price cuts were announced in the US, Europe and China due to concerns about buyer demand.

Some of the brand damage is expected to be mitigated by the move.

The firm's profit margins will be hurt by the move.

When buying an electric car last year, Indie Grant, who works in the insurance industry in New Zealand, didn't like Mr Musk's politics so he went for a cheaper car.

Indie Grant ruled out a Tesla when purchasing an electric car last year

Buying aTesla feels like a passive but regular announcement of 'I think Elon is great' with him being so tied to the brand He says he loves everything he does.

With so many options, taking that out of the running did not affect the choices too much.

There isn't much that would prompt a purchase of the electric car company. If he were no longer associated with it, my opinion of him would change.

Mr Musk has come under fire before for his social media posts.

Elon Musk appeared in a San Francisco court this week for a legal case sparked by one of his tweets

Regulators accused the firm and Mr Musk of fraud after they discussed taking the company private. He was in court this week defending the post in a class-action suit brought by shareholders who said they lost money in the share price fluctuations after it was published.

Mr Musk won a defamation case after he said he didn't think the insult would be taken seriously.

The owner of the platform is Mr Musk.

It has raised the prospect of his political views, which he shares with increasing frequency, affecting how Twitter moderates the content on its site.

After taking over, Mr Musk moved quickly to remove the ban on former US President Donald Trump, and in the process caused outrage among liberals.

Jordan Marlatt, tech analyst at Morning Consult, which tracks public perception of thousands of brands in the US, and has seen a decline in favourability towardsTesla among Democrats since April, when Mr Musk first announced theTwitter deal.

He's been more outspoken on his personal politics than he's ever been and that's hurting consumer sentiment.

Within 90 days, brands usually recover from damaged reputations.

He says that there is a steady drumbeat for the two companies. It is every day and almost every hour.

Anne Marie, who has voted for both Democrats and Republicans, says the flood of commentary last year wore her down.

She says that he is a bit of a wild card. He was going after social issues with the intent of riling people up, and this level of consistency was different.

She can't imagine buying a car from a company that doesn't already have one.

Do you want to align yourself with a company that doesn't represent your values anymore? I wouldn't want to do it.