Tesla's brand value erodes while Model Y sales break records

A consumer experience article published on CleanTechnica, a platform covering clean energy and electric vehicles, brought an interesting contradiction to the agenda: Some consumers continue to prefer the Model Y because of its technical superiority and charging infrastructure, despite keeping their distance from Tesla CEO Elon Musk's political stance and public image. Global sales and brand value data also reveal the scale of this "product or CEO" dilemma.

According to JATO Dynamics data, the Tesla Model Y became the first electric vehicle to win the title of the world's best-selling car in 2023, with 1.23 million units sold globally. The achievement was recorded as a turning point in the mainstream acceptance of electric vehicles.

Brand value falls, purchase intent declines

On the other hand, indicators of Tesla's brand strength are not moving in the same direction. According to Brand Finance's 2024 research, Tesla's brand value fell 26% to 43 billion dollars, and the company handed the "most valuable car brand" seat to Toyota. In the US, the erosion in consumer perception is even more striking: According to measurements by brand evaluation firm Caliber, Tesla's "consideration score," which reflects purchase intent, stood at 70% in November 2021 but dropped to 31% by February 2024. This indicates that more than half of potential buyers have become distanced from the brand.

The picture in Türkiye is different: Sales surge

The Turkish market is one of the places where this global contradiction can be observed most clearly. According to data from the Automotive Distributors and Mobility Association (ODMD), Tesla sold 8,730 Model Y units in August 2025, increasing its sales by 86% compared to the previous month. With this figure, Tesla rose to become the country's second best-selling car brand after Renault, maintaining its competitive claim against the domestic electric Togg T10X.

For consumers in Türkiye, the car's placement in the lowest special consumption tax (SCT) bracket and the prevalence of the Supercharger fast-charging network are more decisive in the purchase decision than Musk's personal image. Especially in an automotive market under a high tax burden, the tax advantage provided by the Model Y and the ease of access in charging infrastructure suppress potential reactions against the brand.

CEO effect: From asset to liability

Tesla's situation is seen as an example of how the concept known as the "CEO effect" in marketing literature can turn from an asset into a liability for a brand. Until 2021, Musk's popularity enabled the company to achieve global recognition without traditional advertising spending. However, in 2024 and beyond, Musk's political posts, particularly on platform X, and his public rhetoric alienated a significant segment of consumers from the brand, especially the liberal and environmentally conscious buyer base in Europe and the US.

Despite this, the range, performance and software ecosystem offered by the Model Y, along with the unrivaled Supercharger network, lead many consumers to push ethical concerns to the background. In other words, the product's technical maturity partially offsets the reputational loss caused by the CEO.

The critical question for Tesla in the coming period is how sustainable this balance will be. As erosion in Musk's personal brand deepens and rivals' product ranges expand, the likelihood of consumers turning their backs on the brand rather than the product increases. In markets like Türkiye, where price sensitivity is high, tax advantages and infrastructure investments may continue to be decisive in the short term.