Tesla’s Favorability with Liberals/Democrats Dropped from 39% to 16% in 6 Months — Additionally Dropped amongst Conservatives/Republicans

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August 20, 2024

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

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 are usually not doing so due to the political tweeting, nevertheless it implies that’s the case. The info, 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 simply 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 properly! It went from 36% on January 24 to 23% on July 24. I’m not likely certain what the drop amongst Republicans is from, however I’d assume it’s attributable to 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 properly.

What the drop in favorability amongst conservatives/Republicans reveals us is that the complete drop in favorability amongst liberals/Democrats most likely isn’t attributable to Elon Musk’s political escapades. Once more, the issues above, or different issues escaping my thoughts proper now, could possibly be at play. Nonetheless, 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 previously 6 months.

The general drop — amongst each Democrats and Republicans — is actually 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 12 months over 12 months. With Tesla’s favorability apparently at its lowest stage in fairly some time, how will third quarter and 4th quarter gross sales prove 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 succeed in the identical gross sales ranges because it had final 12 months. That stated, possibly I’m flawed, possibly “favorability” doesn’t imply something, and possibly Tesla gross sales will see a robust rebound within the second half of the 12 months. Additionally, possibly Tesla will make some sturdy strides ahead with “Full Self Driving” and that can present a burst of recent shopper curiosity. What do you assume?

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

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

An infection price virtually 100%.

However now it’s going to die. pic.twitter.com/z5wMNfRym2

— Elon Musk (@elonmusk) April 24, 2024

To finish, there’s yet another observe from one other article that stood out to me. “Researchers on the College of California, Berkeley discovered final 12 months that electrical car possession was strongly linked to political positions,” The Telegraph writes. “They discovered that one-third of all electrical vehicles purchased in America had been registered within the 5pc of counties probably to vote Democrat.”

From the summary of the paper itself: “Throughout our time interval about half of all EVs went to the ten% most Democratic counties, and about one-third went to the highest 5%. There’s comparatively little proof that this correlation has decreased over time, and even some specs that time to rising correlation.” Right here’s a graph from that examine: