New Tesla cars are displayed at a Tesla dealership on December 20, 2024 in Corte Madera, California.
The value of Tesla’s brand has fallen by 26% in 2024, a second consecutive annual decline, 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.
Toyota is the most valuable brand in autos at $64.7 billion, with Mercedes close behind at $53 billion, according to the firm’s annual ranking. Brand Finance conducted a comprehensive consumer survey and analyzed the financials of thousands of companies to estimate the monetary value of brands.
Tesla’s declining scores and brand value are a sign that the company’s “pulling power is weakening,” according to Brand Finance CEO David Haigh. The firm analyzed answers from about 175,000 survey respondents worldwide, including about 16,000 people who shared their views on Tesla.
Tesla’s stock price soared 63% last year, reaching a record in December, after investors snapped up the shares following Donald Trump’s election victory. However, when it comes to the broader public, Musk’s political rhetoric and public persona have their downsides.
According to Brand Finance, Tesla’s consideration score, reputation score, and recommendation score declined across the board in major markets where it operates factories and sells its cars, including the US, Europe, and Asia.
Tesla saw significant declines in its scores in Europe, where its consideration score dropped from 21% to 16% on average from 2024 to 2025. Competitors Mercedes and BYD beat Tesla especially on consideration and recommendation scores outside the US.
The firm also evaluated other Musk-led brands, including X, aerospace and defense contractor SpaceX, and for the first time, SpaceX’s Starlink satellite internet business. The overall brand value of X dropped 26% to $498 million from $673 million, the firm estimated. Simple awareness of the X brand dropped from 2022, when the company was still known as Twitter, from 94% to 78% today on an international level.
Brand Finance will publish its Global 500 2025 study of the world’s most valuable brands on Tuesday at Davos.