Tesla’s turbulent Q4 is well documented. Stock prices nosedived as investors braced for the impact of CEO Elon Musk’s multitasking. Musk has become a prevalent figure in pop culture because of his involvement in companies like SpaceX and Tesla. The eccentric CEO’s name once skyrocketed the value of brands and even cryptocurrencies. Now, investors are calling for a new Tesla CEO. Does the public outrage at Elon Musk’s recent actions actually affect Tesla sales?
Is Elon Musk hurting Tesla?
The court of public opinion is more powerful than ever before, thanks to social media networks. If a public figure does something that society deems worthy of awe, they could reap the benefits for years to come. When the court of public opinion frowns upon your actions, your livelihood and fortune could take a devastating hit.
Though it may be hard to prove that Elon Musk’s acquisition of Twitter had a direct impact on Tesla’s current share price, his Twitter woes do correlate with a historically horrible month for Tesla stock. So, what does it mean when Tesla stock tumbles? Investors lose big bucks in the short term. Suddenly, the biggest name in electric vehicle production begins to take a back seat to competitors in the eyes of consumers.
Since Elon has bought Twitter, several celebrities have expressed their frustration with the lack of a clear direction for the platform. Musk, a self-proclaimed champion of free speech, now owns the metaphorical town square. His handling of the platform has made him increasingly unpopular. According to The Guardian, Tesla drivers are experiencing road rage because of misdirected anger involving Musk. Consumers are reportedly canceling Tesla orders because of the controversy surrounding Elon as well.
The Tesla Model Y is still winning in Europe
InsideEVs claims that the Tesla Model Y was the best-selling car in Europe in November. This is surprising news to many Americans that have watched Tesla and Elon Musk get put through the wringer following his acquisition of Twitter.
The Tesla Model Y is still winning overseas. It’s still one of the most capable electric SUVs on the market. The Model Y’s design language is distinct, and it has plenty of driving range.
Should you get a 2023 Tesla Model Y?
The 2023 Tesla Model Y starts at $65,990. It gets 330 miles of driving range. That’s incredible range for its segment. The Model Y is praised for its roomy cabin and cargo area, amazing acceleration, and useful supercharger network compatibility.
If you’re new to the world of EVs, the Model Y may not be the best first electric vehicle for you. Many drivers will opt for a more affordable electric vehicle without as many cool features as the Model Y because of its high price.
If you’re looking for a value-oriented luxury small electric SUV, the 2023 Genesis GV60 is a better buy. If you want an even more affordable electric SUV, the 2023 Hyundai Ioniq 5 offers great value for the money. Elon Musk’s actions may negatively impact Tesla, but it’s hard to deny that the automaker produces some of the most exciting and innovative EVs on the market.