Gary Black Says Tesla Should Be Educating Non-EV Owners As Market Leader: 'TSLA Never Acted Like A True…'

Future Fund LLC's Gary Black criticized Elon Musk's EV giant Tesla Inc. TSLA over the company's lack of communication and poor marketing strategy.

What Happened: "$TSLA as market leader should be educating non-EV owners (80% of the market) on the benefits of EVs: convenience, lower costs, performance, technology, climate change benefits," Black said in a post on social media platform X on Tuesday.

He outlined how, despite Tesla holding the largest market share, the company "never acted like a true market leader," and focused on programs like 0% financing and price cuts to drive sales.

"Lack of marketing skills remains TSLA's Achilles heel," Black said and pointed out that poor marketing tactics will hold the EV giant back from overtaking Apple Inc. AAPL to become the world's most valuable company.

Why It Matters: This isn't the first time that Black has raised questions over Tesla's marketing tactics. He had previously questioned the company's strategy, which relies heavily on Musk's presence in pop culture and social media.

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

Black also called out the company's valuation based on June's Robotaxi launch in Austin, Texas. "TSLA's robotaxi test with 10-20 cars employing remote drivers to some extent to ensure no mishaps does not YET warrant $ billions of robotaxi valuation potential," He said.

EV adoption in the U.S. is seeing a surge as the sector experienced an over 10.6% YoY increase, and companies like General Motors Co. GM saw triple-digit percentage growth, data shows. However, Tesla experienced an 8.6% decline, but still holds a lion's share of the segment at 43.5%.

Price Action: TSLA currently trades for $275.35, according to Benzinga Pro data.

Read Next: