Tesla’s brand loyalty has plunged since CEO Elon Musk endorsed Trump in July 2024, according to Reuters. Brand loyalty fell from 73% to a low of 49.9% in March before partially rebounding to 57.4% in May, according to exclusive S&P Global Mobility data. The drop tracks closely with Musk’s political involvement, including his leadership of a new federal agency and mass firings. Tesla’s dominance in acquiring new customers also declined sharply, as brands like Rivian and Porsche now gain more Tesla drivers than they lose. Brian Mulberry of Zacks Investment Management expects Tesla’s long-term earnings to remain strong due to its robotaxi ambitions and self-driving tech licensing plans. Tesla sales fell 8% in the U.S. and 33% in Europe through mid-2025.
