Elon Musk’s career trajectory has made him one of the most polarizing figures in the business world.
He’s gone from an industrialist who helped pave the way for advancements in electric vehicles (EVs) and space travel to a close advisor to the President of the United States.
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Through it all, Musk has garnered a following that seems to support him no matter what, creating a strong brand for Tesla (TSLA) . However, recent events have sparked some backlash Musk has never experienced before.
Loyal Tesla owners who have purchased Musk’s expensive EVs are not happy about a recent event that casts him in a negative light. And they are sounding off, making it extremely clear that they aren’t going to stand by him, even if doing so may be financially inconvenient for them.
Tesla Drivers: we’re done with Musk
After Donald Trump won the 2024 U.S. presidential election, Tesla stock surged on positive speculation that Musk’s proximity to the new president would help it grow. But since Trump’s inauguration ceremony one week ago, shares have been trending downward, even after Musk took the stage to address a roaring crowd.
Trump’s presidency isn’t seen as a bearish indicator for big tech stocks, far from it. On the contrary, many tech stocks have enjoyed significant momentum recently, likely generated by Trump’s promises to roll back regulatory policies.
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But now Tesla seems to be facing an uncertain future following a highly controversial gesture from its CEO. As the New York Times reports, during his inaugural address, Musk “slapped his right hand on his chest before shooting his arm diagonally upward, palm facing down. He did it twice.”
Musk’s gesture quickly drew comparisons to the Nazi salute. While he has denied having any such intentions, the backlash has been quick and it has been strong. One influencer posted on X that had Musk made such a gesture in Germany or Austria, he would likely have been arrested.
If Elon had made the gesture he made twice at the Trump inauguration at any event in 🇩🇪 Giga Berlin or visit to Germany, he would have been charged in Germany under 86a StGB and § 130 StGB and possibly sent for up to 3 years to prison as many others have already,
It is against…
— Alex (@alex_avoigt) January 22, 2025
That’s just where it starts, though. Following the inauguration, one Reddit (RDDT) user asked Tesla owners on the r/AskReddit how they felt about Musk and negative comments quickly rolled in. Many Tesla owners expressed regret, stating that they wouldn’t be buying another vehicle from the company.
“I’m stuck with my car for now but I won’t be buying another Tesla” stated one comment while another added “I bought mine before Musk went totally off the rails, and I regret the purchase.”
Another user drew multiple parallels between Musk and Ford founder Henry Ford, stating “Elon went from the Henry Ford of our generation to the Henry Ford of our generation.”
Throughout the social media forum, three themes are evident: that made Tesla owners purchase their cars before they knew who Musk truly was, that they regret buying cars from him and they do not plan on giving him their business again.
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While many commenters highlight the negative economic consequences of owning a Tesla, stressing themes such high sticker prices and depreciation, it is clear that they don’t want to be associated with Musk.
The road ahead for Tesla looks rocky
This isn’t to say that all Tesla owners are angry with Musk. But the surge of anti-Tesla sentiment following the inauguration strongly suggests that he has done significant damage to the brand he did much to build. The man sometimes referred to as “Teflon Elon” may not be as invincible as he once seemed.
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This isn’t the only negative sentiment that has been rising lately due to Musk’s affiliation with Trump. As TheStreet’s James Ocha reports:
“Most recently, Musk’s latest controversial actions have sparked a wave of boycotts of his social media platform X by over 100 large communities on Reddit, including fan discussion boards for entities like the National Football League (NFL) and the National Basketball Association (NBA).”
Regardless of how Musk’s gesture ends up impacting Tesla sales, there is another risk that may compromise the company even further.
Tesla is preparing to start rolling out self-driving robotaxis in U.S. cities, though they will have digital operators at first. Tech startup advisor and columnist Brad Templeton recently speculated that people in left-learning urban environments may be less inclined to book rides in self-driving Teslas if Musk is still associated with the company.
Jason Mudd, CEO of Axia Public Relations also sees this as a particular problem for Musk.
“Tesla’s brand is closely tied to Musk’s persona,” he states. “Public backlash against him could negatively affect the perception of Tesla, especially among environmentally conscious or socially active consumers who may see his actions as misaligned with their values.”
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