Tesla's brand value has declined for three consecutive years, contrasting sharply with BYD!

On February 28, the South Korean media "Today Digital" published an article stating that Tesla's brand value fell by 15.4 billion US dollars last year, marking the third consecutive year of decline.

According to a report from the research and consulting company Brand Finance, the main reasons for the decline in Tesla's brand value are the lack of innovative models, higher prices than competitors, and the political statements of CEO Elon Musk. Tesla's current brand value is 27.6 billion US dollars, showing a continuous decline from 43 billion US dollars in early 2025, 58.3 billion US dollars in 2024, and 66.2 billion US dollars in 2023.

Brand Finance analyzed financial data from thousands of companies and estimated the monetary value of brands through consumer surveys. Tesla has seen declines in key indicators such as reputation, recommendation rate, trustworthiness, and innovativeness, especially in Europe and Canada, where the decline was more significant. Its recommendation score in the United States also dropped to 4 out of 10, down from 8.2 points in 2023.

Last year, Tesla saw an increase in brand awareness in most markets, and its customer loyalty in the United States rose from 90% to 92%. However, BYD in China saw a 23% increase in brand value in the automotive industry, reaching 17.2 billion US dollars, forming a sharp contrast with Tesla. Among the five major automobile manufacturers, Toyota, Mercedes-Benz, Volkswagen, and Porsche all ranked higher than Tesla, with Toyota maintaining the leading position with a brand value of 62.7 billion US dollars.

The decline in Tesla's brand value is also related to Musk's political activities. He joined the Trump administration and pushed for federal government layoffs, and his support for far-right politicians triggered strong consumer backlash. The reduction in the U.S. electric vehicle tax credit policy also had a negative impact on Tesla.

Original: toutiao.com/article/1858332418883971/

Statement: This article represents the personal views of the author.