According to a recent UBS survey, the global interest in purchasing Tesla (TSLA, Financial) vehicles has decreased, with the percentage of consumers considering buying a Tesla dropping from 39% to 36%. Furthermore, Tesla's status as the top choice for an all-electric vehicle fell from 22% to 18%. In China, Tesla has slipped to third place, overtaken by local brands BYD and Xiaomi, with preference dropping from 18% to 14%. Chinese consumers increasingly favor domestic brands, viewing Tesla less as a technology leader.
In the United States, Tesla maintains a 48% share of the electric vehicle market, but its position as the preferred brand has decreased from 38% to 29%. This decline is attributed to market saturation and a limited product line. In Europe, Tesla's brand consideration fell to 33%, surpassed by traditional luxury brands like Audi and BMW. The percentage of consumers selecting Tesla as their first choice dropped from 20% to 15%, which UBS analysts partly attribute to Elon Musk's political involvement.
