Tesla was “spoiled” from boss Elon Musk himself – the brand’s preference level in the eyes of users dropped to … the negative point.

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YouGov, a UK-based market research firm, conducts daily surveys of thousands of brands. The company says electric car maker Tesla’s reputation has suffered a widespread decline over the past two years.

On November 7, YouGov noticed there were more perceived reports of negatives than positives for the first time since YouGov began tracking Tesla in 2016.

The report indicates that the scores of other major U.S. automakers have held steady over the same period, with each brand consistently scoring higher than Tesla on net preference ratings since January 2020. hitherto. Net liking is calculated as a percentage with a positively perceived response to a brand minus the percentage with a negative perception. While this rate was 5.9% at the beginning of the year, by November, it had dropped to -1.4%.

Tesla’s preference score drops to negative in November. Graphic: WSJ

Morning Consult also found that more people have a negative view of Tesla than at the start of the year. In surveys of about 200 people in the US each day in November, about 22% had a negative impression of the company, compared with 15% this past January. Meanwhile, 38% of those surveyed between this month and November 27 had a positive impression of Tesla, down from 43% in January.

Elon Musk’s takeover of Twitter comes at a time of deepening economic uncertainty and growing concerns about dwindling media demand. Federal prosecutors and the securities regulator have launched investigations into whether the automaker misled consumers about how its advanced driver-assistance system so-called Autopilot or not. The Wall Street Journal reported and a federal auto safety investigation into the technology is underway.

Meanwhile, a variety of battery electric vehicles have hit the US market, from electric versions of Ford’s F-150 to Hyundai’s Ioniq 5. Tesla’s stock price has fallen about 49% in 2022, outpacing the share price declines of its auto rivals and evaporating about $500 billion in market value.

Ian Beavis, chief strategy officer at automotive consulting firm AMCI Global, said Tesla’s most important business challenges are growing competition from other automakers and consumer confidence. their product quality is declining.

The number of consumers with negative opinions about Tesla’s product quality increased to 12.5% ​​on November 16 from 4.2% on November 16, 2020, according to YouGov.

Tesla’s brand image in the US has tumbled in lengthy surveys as the world’s largest automaker by market value faces new regulatory challenges and CEO Elon Musk has gotten deeper into politics in an attempt to turn Twitter around, with the layoffs and waves of criticism in recent times.

According to WSJ