Tesla's Favorability with Liberals/Democrats Dropped from 39% to 16% in 6 Months — Also Dropped among Conservatives/Republicans

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As we’ve mentioned a number of occasions, Tesla CEO Elon Musk’s dramatic, public departure into deep right-wing political tradition has been turning many consumers and shareholders off from Tesla (NASDAQ:TSLA). I’ve seen a number of former Tesla followers who had inventory since IPO (2010) or for the reason that Mannequin S was launched (2012) say that they’ve bought their Tesla inventory and received’t purchase one other Tesla. Tesla’s market cap continues to be far above every other automaker on the earth, however demand for Tesla’s vehicles appears to be taking successful from Musk’s political adventures (amongst different elements).

I simply found some knowledge on this that got here out final month. It’s not definitive proof that individuals who would have purchased Teslas will not be doing so due to the political tweeting, nevertheless it implies that’s the case. The information, which comes from analytics agency CivicScience, reveals that Tesla’s favorability dropped a whopping 23 proportion factors in 6 months amongst liberals/Democrats, from 39% on January 24 to just 16% on July 24. That’s an enormous drop in favorability.

Maybe the much more stunning factor, although, is that Tesla’s favorability amongst conservatives/Republicans dropped considerably in that timeframe as nicely! It went from 36% on January 24 to 23% on July 24. I’m not likely positive what the drop amongst Republicans is from, however I’d assume it’s as a consequence of Tesla gross sales dropping, Tesla’s layoffs and/or discount in Supercharger ambitions, nebulous plans for a less expensive mannequin, or maybe dissatisfaction with the Cybertruck or Cybertruck rollout. Or maybe there are additionally many conservatives/Republicans not proud of Elon Musk’s tweeting as nicely.

What the drop in favorability amongst conservatives/Republicans reveals us is that your complete drop in favorability amongst liberals/Democrats most likely isn’t as a consequence of Elon Musk’s political escapades. Once more, the issues above, or different issues escaping my thoughts proper now, could possibly be at play. Nevertheless, there was a 13 proportion level drop amongst conservatives/Republicans versus a 23 proportion level drop amongst liberals/Democrats. There’s a large distinction there, and the way else are you able to clarify it past reactions to Elon Musk’s political statements? Naturally, it’s solely anecdotal proof, however I’ve learn many circumstances of this below our articles prior to now 6 months.

The general drop — amongst each Democrats and Republicans — is admittedly what might be most regarding, although. Mixed, that’s a big drop in favorability. We’ve already seen Tesla gross sales drop within the 1st quarter and the 2nd quarter yr over yr. With Tesla’s favorability apparently at its lowest stage in fairly some time, how will third quarter and 4th quarter gross sales end up within the USA?

CivicScience’s findings appear to place numbers and a graph to my hunches about Tesla demand. It appears Tesla is struggling to achieve the identical gross sales ranges because it had final yr. That mentioned, perhaps I’m mistaken, perhaps “favorability” doesn’t imply something, and perhaps Tesla gross sales will see a robust rebound within the second half of the yr. Additionally, perhaps Tesla will make some strong strides forward with “Full Self Driving” and that can present a burst of recent shopper curiosity. What do you suppose?

This graph illustrates the woke thoughts virus taking up legacy media.

Similar occurred with on-line media and the schooling system. Then it unfold to different nations.

An infection price virtually 100%.

However now it would die. pic.twitter.com/z5wMNfRym2

— Elon Musk (@elonmusk) April 24, 2024

To finish, there’s yet one more observe from one other article that stood out to me. “Researchers at the University of California, Berkeley found last year that electric vehicle ownership was strongly linked to political positions,” The Telegraph writes. “They found that one-third of all electric cars bought in America were registered in the 5pc of counties most likely to vote Democrat.”

From the summary of the paper itself: “During our time period about half of all EVs went to the 10% most Democratic counties, and about one-third went to the top 5%. There is relatively little evidence that this correlation has decreased over time, and even some specifications that point to increasing correlation.” Right here’s a graph from that examine: