Even if you’re not on social media every day like most people, you’ve at least heard about the recent Twitter acquisition by Elon Musk. And regardless of your politics, you also know there has been a slew of headlines about what Musk has done since his leadership takeover, including Twitter employee layoffs. Seeming to not miss a beat, despite the increased publicity and pressures, Musk has been trolling with his own Twitter profile and poking at some of his biggest critics.
What car-buying consumers want to know is how all this negative and quasi-inflammatory attention is affecting Tesla. Some are already sharing signs that Tesla EV sales are down as a direct result of the media attention Musk is attracting with his antics. However, after taking a closer look, it’s probably not worth worrying about Musk or Tesla’s success as a viable EV automaker, for that matter. Here’s why.
The latest on Elon Musk’s Twitter rants
The last two months or so have been pretty action-packed on Twitter, especially if you’re tuned into Elon Musk’s tweets. Musk is the new owner and CEO of Twitter after shelling out $44 billion to secure the company’s purchase.
He’s a bit of a rebel with his leadership style, posting crazy polls to Twitter users about whether or not they believe he should remain CEO, along with mass layoffs and auctioning office equipment. But how’s Tesla holding up with all this Twitter-storming?
CNET points out that there are two key groups getting a little tired of Elon Musk’s “Twitter meltdowns.” For starters, there are consumers canceling their Tesla orders. But CNET also reminds consumers that what Musk does with Twitter doesn’t affect shareholders since it’s not a publicly traded brand. But Tesla is publicly traded, and investors are not at all happy with Musk’s recent behavior.
Should consumers be worried about Tesla?
Consumer surveys are suggesting that Tesla’s brand image is losing steam fast. And CNET shares a few individual experiences of those calling the EV automaker to cancel their vehicle orders. It seems Tesla customer service has said, “we’re hearing a lot of that,” pointing to Elon Musk’s Twitter antics as the dominant contributor to the Tesla cancellations.
It’s not all conjecture, either. Tesla shares have dropped over 44% since the Twitter acquisition took place. There were also reports that Musk was siphoning off Tesla engineers and re-assigning them to Twitter projects.
As a result of the tumultuous public Twitter rants and bad publicity, some top advertisers have pulled away from Twitter. And now, consumers and new potential Tesla buyers are wondering if they should be worried about Tesla tanking altogether.
Long-term success appears imminent for Tesla
Before you change your mind about buying a Tesla or call to cancel your EV order, consider this. Today’s headlines will be in the rearview mirror within a matter of months or less. And Elon Musk, who may be unorthodox in his leadership, is still the successful leader of SpaceX, The Boring Company, and Neuralink, too.
He knows, probably better than anyone, how to run an effective company, including Tesla and Twitter. It’s important for consumers to recognize that getting caught up in the moment and making predictions isn’t typically the most effective way to make any decisions.
The truth is, as Torque News points out, Elon Musk is a master of innovation. And he’s expressed to Tesla shareholders to have faith in the company’s ability to weather any publicity storms. He reminds them to base their predictions on the positive cash flow and assets.
Remember, too, electric vehicles are only growing more popular, and widespread EV adoption is imminent. And data shows that Tesla’s Model S, Model Y, Model X and Model 3 are the four most affordable and perceived best EVs in their respective segments.
While you might not agree with Elon Musk’s presence or ownership handling of Twitter in recent weeks, don’t let it persuade you into thinking Tesla is going to suffer long-term. Tesla EVs are still reputable vehicles revolutionizing their space. And neither Musk nor Tesla is planning to go anywhere but up in the years to come.