Tesla’s Favorability Craters After Musk Backs Trump

Quartz reports:

Elon Musk’s endorsement of former President Donald Trump — the man who has promised the U.S. will “drill, baby, drill” for more oil — isn’t endearing his company to potential Tesla buyers. The electric vehicle maker’s favorability among Democrats has dropped to 16% as of July 16, down 20 percentage points from January, Yahoo Finance reports, citing new data from analytics firm CivicScience. Favorability among Republicans has also dropped, falling 13 percentage points to 23%.

Since Musk purchased Twitter, now X, he’s increasingly turned his attention to politics, often complaining about diversity initiatives, spreading claims about election fraud, criticizing vaccinations, and issuing critiques of the Biden administration’s handling of immigration and border security. “He completely alienated most of his buying base. … It’s going to kill the business,” Tesla short seller Mark Spiegel told Yahoo Finance.

Read the full article.

A Trump presidency would hurt $TSLA, @StanphylCap told us Wednesday: “I can’t imagine a single Democrat… willing to buy a Tesla at this point. … [Elon Musk] has completely alienated most of his buying base.” pic.twitter.com/h8modxs7E8

— Yahoo Finance (@YahooFinance) July 20, 2024

‘Very few’ Democrats are willing to buy a Tesla after Elon Musk endorsed Donald Trump https://t.co/CTgRqQ8FeN

— Quartz (@qz) July 22, 2024