Street art by ‘Rebel Bear’ featuring Elon Musk and Twitter in Edinburgh, Scotland.
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Tesla’s favorability as a brand may be sinking in some consumer surveys as CEO Elon Musk’s public image has grown more controversial since he bought Twitter. The billionaire entrepreneur isn’t buying it, citing his vast number of Twitter followers as a counterargument.
Polls by groups including Morning Consult found a steep drop in the number of Americans with a favorable view of Tesla, falling to just 13.4% of adults this month, compared with 28.4% in January 2022. Musk brushed off such findings when questioned about them during Tesla’s fourth-quarter results call on Wednesday.
“I’ve got 127 million (Twitter) followers. It continues to grow very rapidly. That suggests I’m reasonably popular. I might not be popular with some people, but for the vast majority of people my follower count speaks for itself,” he said. “I’m the most interactive social media account, I think, maybe in the world, certainly on Twitter. And that actually predated the Twitter acquisition. … I think Twitter is actually an incredibly powerful tool for driving demand for Tesla.”
His comments came after the electric-car maker reported $24.3 billion in revenue in 2022’s fourth quarter, up 37% increase from a year ago and a bit over the $24.2 billion analysts expected. Net income was $3.7 billion or $1.19 per share, topping consensus expectations of $1.13 per share.
Musk’s $44 billion takeover of Twitter has frustrated many Tesla investors, who believe he’s been distracted by his overhaul of the social media platform. Changes he’s made in the past three months, including slashing its workforce, easing moderation rules and welcoming backing controversial figures, including former U.S. President Donald Trump, have been tied to scaring off advertisers. But Musk said his personal popularity on the platform is an example for others to emulate.
“I really encourage companies out there of all kinds, automotive or otherwise, to make more use of Twitter and to use their Twitter accounts in ways that are interesting and informative, entertaining. It will help them drive sales just as it has with Tesla,” he said. “The net value of Twitter, apart from a few people who are complaining, is gigantic, obviously.”
His suggestion may not convince many companies to increase their activity for the time being. Ad revenue on the site plunged 71% last month, Reuters reported Wednesday, citing data from Standard Media Index.
Tesla shares were little changed in Nasdaq trading on Wednesday, closing at $144.43 before the company’s results announcement.
