Tesla brand value shed $15 billion in 2024 with aging lineup, Musk at helm, researchers found

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2025-01-23 04:00:10

The value of Tesla's brand fell by 26% in 2024, a second straight annual decline, with factors including an aging lineup of vehicles, and CEO Elon Musk's "antagonism," according to research and consulting firm Brand Finance.

Tesla's brand value now stands at an estimated $43 billion, down from $58.3 billion at the beginning of 2024 and $66.2 billion at the start of 2023, the firm said in its annual ranking. Toyota is the most valuable brand in autos at $64.7 billion, with Mercedes close behind at $53 billion, the researchers found.

Brand Finance, based in London, conducts comprehensive consumer surveys and analyzes thousands of companies' financials, looking at revenue, licensing agreements, margins and more, to estimate the monetary value of brands. The assessments include corporate brands and the sub-brands associated with individual product lines.

As part of the firm's ranking this year, Brand Finance analyzed answers from about 175,000 survey respondents worldwide, including about 16,000 people who shared their views on Tesla.