Tesla’s brand health rating fell to -13.1 in February, versus a score -2.3 a year prior, according to YouGov BrandIndex data.
Declining sales and weakening brand health have contributed to a 9% slump in shares for Tesla, taking the electric car marque’s valuation to below $1trn (£791bn) for the first time since November.
According to data from the European Automobile Manufacturers’ Association, Tesla sold 9,945 vehicles across the EU, European Free Trade Area and UK in January, down 45% from 18,161 from last year, causing the brand’s market share to drop from 1.8% to 1%.
Looking at YouGov BrandIndex, Tesla has a brand health rating of -13.1 this month after posting a 12% fall in UK sales in January. This is compared to a brand health score of -2.3 in February 2024.
By comparison, its major competitors in the UK are performing much better. Volkswagen has the highest brand health rating with 26.6, followed by Ford (22.5), Volvo (19.9), Audi (19.4) and BMW (11.9).
Measuring buzz, which asks consumers which car makers they have heard something positive or negative about in the past two weeks, Tesla recorded a -18.2 score, compared to Volkswagen with the highest buzz score of 9.3.
Consumer consideration of Tesla when in the market to purchase a car is also down, scoring a 5.6 (% Yes) consideration score. Volkswagen again recorded the highest consideration score with 29.7 (% Yes). Consumers gravitate towards Ford when asked which car brand they are most likely to purchase, with a 10.8 (% Yes) purchase intent score versus Tesla at 1.6 (% Yes).
Tesla’s brand health weakening could be a result of CEO Elon Musk’s recent political activity, including his senior role in US President Donald Trump’s administration as well as his vocal support for Germany’s far-right AfD party.
Musk’s interest in German politics has seen him speak to AfD’s co-leader Alice Widel in an interview on X (formerly Twitter), as well as making an appearance at an AfD rally where he belittled multiculturalism and criticised the nation’s focus on “past guilt”.
The billionaire also faced controversy in January when at a rally celebrating Trump’s second inauguration he made a gesture on stage interpreted by some as a Nazi salute.
Musk dismissed the accusations on his social media platform X, describing them as a “tired” attack. His dismissals have not stopped activists in London putting up a parody “Tesla – The Swasticar” bus stop advert, with the tagline “Goes from 0 to 1939 in 3 seconds”, referencing the start of World War II.
