Electric vehicle leader Tesla Inc TSLA is one of the most followed and talked about automotive and technology companies in the world. A new poll from Benzinga and Dig Insights shows the level of trust consumers have in Tesla and if they would consider buying the company’s products or stock.
What Happened: Tesla has seen its production and delivery figures for electric vehicles increase over the years. With increased demand from consumers for electric vehicles and lower costs, the company has a goal of producing over 1.8 million vehicles in 2023.
The Benzinga and Dig Insights Economic Sentiment tracker asked consumers in the United States and Canada several questions related to Tesla.
In the United States, 41% of respondents said they strongly agree or somewhat agree with the phrase “I trust Tesla products.” In the poll, 25% strongly or somewhat disagreed with the same phrase.
When asked about buying Tesla products, 39% said they strongly agree or somewhat agree that they would buy Tesla products, while 33% strongly disagreed or somewhat disagreed.
Tesla shares had a rough 2022, down 69% for the year. The poll asked if Tesla's stock was a good investment right now (March 2023). Thirty eight percent agreed with the statement, while 24% disagreed.
The final Tesla question hit on Tesla's management and leadership team, which counts Elon Musk as its CEO.
“I think the management team of Tesla is making good decisions,” was the question asked, with 39% agreeing and 23% disagreeing with the statement.
In Canada, the results were similar among respondents to the questions on Tesla.
Forty percent of people agreed with trusting Tesla products, with 29% disagreeing.
More people said they would not buy Tesla products in Canada, with 35% agreeing they would buy products and 39% disagreeing.
On the investing front, 33% said the stock is a good investment now (March 2023), compared to 28% who disagreed.
On the management front, 33% agreed that the Tesla management team is making good decisions, while 26% disagreed.
Related Link: Tesla Q1 Deliveries Weathered Murky Macro, Says Analyst
Why It’s Important: Tesla has maintained a strong following of fans over the years. The company spends minimally on advertising and is able to generate strong demand from return buyers, word-of-mouth reviews and positive media coverage.
The poll shows that more people trust Tesla products than don’t trust them, and shows that people would consider buying Tesla products over not buying them, at least in the United States.
While there have been concerns about Musk having his hands full leading Tesla, Twitter and SpaceX, consumers seem confident in the decisions being made by Tesla’s management team.
On the stock front, over 30% think the stock is undervalued at levels seen in March 2023. A poll by Benzinga on Twitter at the beginning of 2023 saw followers pick Tesla to outperform Alphabet Inc, Amazon.com Inc and Apple Inc for the year with 44% of the vote.
Tesla shares are up 77% year-to-date in 2023 at the time of writing.
Read Next: Here's How Many Vehicles Tesla Has Delivered And Produced In Each Quarter Since 2019
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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