Today's news of Tesla missing sales projections is another troubling sign for the brand. Even with significant price cuts, reports indicate that sales of both Model S and X dropped year-over-year. As the recent wave of Langston's Electric Vehicle Brand Health Tracker noted, deals and discounts are seemingly impacting consumer perceptions of the brand and therefore may not be a sustainable long-term strategy without impacting Tesla's brand identity. Read more about today's news: https://lnkd.in/g9gyeTgF Check out Langston's EV BHT here: https://lnkd.in/gCAV6sb5
📉 Tesla's drop in premium associations, both in the United States and Germany, could be cause for concern, especially as EV competition heats up. While the brand is still near the top of competitors in absolute scores, the year-over-year declines indicate that consumer sentiment is shifting in the wrong direction. The automaker has slashed prices on many models, and while these moves have successfully driven sales growth, they seem to be affecting consumer perceptions of Tesla. This dynamic is more dramatic in Germany than the United States, where the brand has a smaller footprint and is facing increased competition from Chinese competitors. Check our new report to see Tesla's full brand health performance: https://lnkd.in/gCAV6sb5 #brandhealth #electricvehicles #ev #bht #consumerinsights
