Tesla’s brand worth plummeted by 26% due to the age of its vehicles and Musk’s figure

Tesla’s brand worth decreased 26% in 2024, according to a research issued Tuesday, with a valuation of $43 billion, down $15 billion from the previous year.

According to the paper from Brand Finance, this is the second year in a row that Tesla’s brand worth has declined since the carmaker was valued at $66.2 billion at the start of 2023.

Among the reasons mentioned for the loss of brand value, Brand Finance cited the age of Tesla’s vehicle line, which is primarily supported by two models (Model 3 and Model Y), as well as the figure of its controversial CEO, Elon Musk.

Since 2024, it has associated with Donald Trump and has become a regular presence in the environment of the conservative leader and new US president; nonetheless, it is increasingly hostile to vast segments of the North American and European populations.

Even though Tesla’s brand worth decreased in 2024, its share price increased by 63%.

Brand value loss was concentrated in areas such as’reputation’ and’recommendation’. The valuation of these traits fell in the manufacturer’s primary markets: the United States, Europe, and Asia.