Elon Musk’s Tesla, the well-known electric vehicle maker, has seen a significant decrease in its place on the list of highly recognized brands in the United States. According to a new assessment evaluating the reputation of American firms, Tesla has lost 50 ranks to No. 62 out of 100, placing it in the “good” category. The Axios Harris Poll 100 study assesses different qualities such as character, trajectory, and trust.
While Tesla received commendable scores in areas like trajectory, vision, and products and services, it received comparatively lower scores in character, trust, and citizenship. This decrease in reputation coincided with a remarkable rise for its competitor, Ford Motor, which climbed nine spots and now stands at No. 32 on the list. Interestingly, survey respondents named Patagonia and Costco as the top two most reputable brands in the US, while Twitter, another company associated with Elon Musk, ranked unfavorably at No. 97.
The survey data reveals that Tesla’s reputation has fluctuated between “excellent” and “very good” since 2016. The Axios Harris Poll 100, which gathered opinions from a nationally representative sample of 16,000 Americans, aims to capture public perceptions of companies that either excel or face challenges in society. The decline in Tesla’s ranking has raised concerns among some investors who believe that Musk’s involvement in other ventures, notably his leadership of Twitter, may distract him from focusing on Tesla.
Furthermore, Tesla has recently encountered several issues, including allegations of racial discrimination at its Fremont Factory, with the California Department of Fair Employment and Housing receiving numerous worker complaints. Additionally, customers expressed discontent after the company reduced prices on certain vehicle models, leading to feelings of being deceived and taken advantage of. Moreover, a recall of over 362,000 vehicles due to a Full Self-Driving software problem has heightened concerns about safety and raised questions about Tesla’s quality control measures.
Toyota emerged as the industry leader in the automobile sector, obtaining the sixth overall position. Tesla was outranked by Honda, Subaru, BMW, Ford, General Motors, and Volkswagen. Chrysler, ranked 67th on the list of car firms, was at the bottom.
The drop in Tesla’s position serves as a reminder that, regardless of success or new goods, keeping a positive reputation is critical for any organization. Addressing the concerns expressed by customers, staff, and investors will be critical for Tesla to reclaim its reputation as a trustworthy brand in the eyes of US consumers.
