Elon Musk damages trust in Tesla

Elon Musk has damaged Swedes' confidence in the car manufacturer Tesla, shows a fresh survey from Novus. Tesla is being dragged down by the enormous, negative reporting surrounding Musk, says Ieva Englund at Novus.

» Published:

Elon Musk damages trust in Tesla
Photo: AP/TT

Share this article

The company has let over 1,000 people answer how they view Elon Musk and electric car giant Tesla, where he is the largest owner, and compared with an earlier survey from January – and the result is clear:

Musk's much-talked-about gesture from the stage during Donald Trump's inauguration ceremony has made Swedes re-evaluate their image of Tesla.

The proportion of those who have a positive attitude towards Tesla fell by 8 percentage points to 11 percent, and the proportion of those who have a negative attitude towards the car brand increased by as much as 16 percentage points. 63 percent of Swedes now have a negative image of Tesla.

The largest negative attitude change has occurred among young people (18-34 years) and younger middle-aged people (35-49 years).

It's going to be very important target groups for Tesla, so in that sense, it's very unfortunate for the brand, says Ieva Englund, brand expert and business advisor at Novus, to TT.

The Tesla brand takes on a disproportionately large part of the negative associations, despite the criticism primarily being directed at Elon Musk. In data from Retriever, we see that in a third of all articles about him, Tesla is also mentioned, which is remarkable, she continues.

For two years in a row, the Tesla Model Y has been Sweden's best-selling car – but the question is whether the controversies surrounding Elon Musk will make the brand fall from the throne.

One usually says that a major loss of confidence for a brand affects the business, but it depends on how this is handled now, says Ieva Englund.

63 percent answered that they are negatively inclined.

22 percent answered that they are neutrally inclined.

11 percent answered that they are positively inclined.

Source: Novus

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Swedish Companies Face Record 12-Quarter Economic Slump

Swedish Companies Face Record 12-Quarter Economic Slump

Asian Stocks Rise Following US Fed Interest Rate Cut

Asian Stocks Rise Following US Fed Interest Rate Cut

Blackstone to Invest £90 Billion in UK Projects Over Next Decade

Blackstone to Invest £90 Billion in UK Projects Over Next Decade

Wall Street Mixed as Fed Cuts Interest Rate but Signals Caution

Wall Street Mixed as Fed Cuts Interest Rate but Signals Caution

Fed Lowers Interest Rate by 0.25 Points, Signals More Cuts This Year

Fed Lowers Interest Rate by 0.25 Points, Signals More Cuts This Year

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Avanza Introduces Digital Trading on London Stock Exchange

Avanza Introduces Digital Trading on London Stock Exchange

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Swedish Inflation Expectations Rise Slightly in Latest Survey

Swedish Inflation Expectations Rise Slightly in Latest Survey

Sweden's Unemployment Rate Stays High in August

Sweden's Unemployment Rate Stays High in August

Stockholm Stock Exchange Sees Modest Gain Led by H&M

Stockholm Stock Exchange Sees Modest Gain Led by H&M

Verisure Returns to Stockholm Stock Exchange with Major Listing

Verisure Returns to Stockholm Stock Exchange with Major Listing

Oracle and Partners to Acquire TikTok's US Operations

Oracle and Partners to Acquire TikTok's US Operations

Taco Bell to Open First Sweden Location in Stockholm Winter 2025

Taco Bell to Open First Sweden Location in Stockholm Winter 2025

Retail Outlook Brightens as Consumer Spending Set to Boost Economy

Retail Outlook Brightens as Consumer Spending Set to Boost Economy

SBAB Predicts Stable Housing Prices Despite Autumn Interest Rate Cut

SBAB Predicts Stable Housing Prices Despite Autumn Interest Rate Cut

Asian Stock Markets Open Mixed Amid Fed Rate Cut Speculation

Asian Stock Markets Open Mixed Amid Fed Rate Cut Speculation

Microsoft Announces $30 Billion Investment in UK Cloud and AI Infrastructure

Microsoft Announces $30 Billion Investment in UK Cloud and AI Infrastructure

US Stock Market Sees Slight Decline Amid Retail Sales Data

US Stock Market Sees Slight Decline Amid Retail Sales Data