Saudi Press

Saudi Arabia and the world
Saturday, Feb 22, 2025

Only 2 customers have abandoned Tesla since Elon Musk bought Twitter, says EV leasing firm CEO

Only 2 customers have abandoned Tesla since Elon Musk bought Twitter, says EV leasing firm CEO

Elon Musk's decisions since buying Twitter seem to have had minimal impact on Tesla's popularity, Octopus EV's Fiona Howarth told the Financial Times.
Elon Musk has become increasingly controversial since taking over Twitter last October, but specialist leasing firm Octopus EV says there's little evidence that his conduct has affected its sales of Tesla cars.

Just two of Octopus EV's Tesla customers — out of "well over 1,000" — switched to another make last year over Musk's decisions at Twitter, its CEO Fiona Howarth told the Financial Times.

While small, she said the dip was still worth noting, given how loyal Tesla customers have usually been. 

Three longtime Tesla owners recently told Insider that they're ditching their cars over Musk's actions at Twitter. 

Bob Perkowitz, a self-described former fanboy, said he hasn't bought a new Tesla because of Elon Musk's apparent right-wing views, his tumultuous Twitter acquisition, and his radical emphasis on free speech — which he fears will allow misinformation to spread more widely online. 

Investors in Tesla shares have also been voting with their feet in recent months. The stock was trading at its lowest level since August 2020 on Friday, leading one investor to question whether Musk was deliberately tanking the carmaker.

But it's not all down to Twitter. Tesla also fell victim to broader slumps in demand for electric vehicles last year, particularly in China — one of its largest markets. The company closed the year by offering discounts as prices for used Teslas plummeted.

Musk's net worth fell by $200 billion in 2022, per Bloomberg, in the biggest and fastest individual loss on record. 

Octopus EV, Tesla, and Musk did not immediately respond to requests for comment from Insider.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia and the United States Strengthen Ties Amid Global Developments
Saudi Arabia Hosts Global Conference to Promote Islamic Unity
The Impact of Artificial Intelligence on Education and Child Development
Saudi Arabia Announces Competition for Best Founding Day Outfits
Saudi-EU Food Security Officials Hold Talks to Strengthen Collaboration
Putin Expresses Gratitude to Saudi Crown Prince for Hosting US-Russia Talks
UK and Saudi Arabia Enhance Collaboration in Innovation and Technology
Denmark's Embassy in Riyadh Showcases Danish Cuisine with Saudi Influence
Saudi Artist Salman Al-Amir Unveils 'Tafawut' Exhibition in Riyadh
Saudi Arabia Offers Condolences to Kuwait Following Military Exercise Fatalities
Saudi Ministry of Islamic Affairs Completes Ramadan Preparations in Madinah
Etidal Secretary-General Hosts UN Counter-Terrorism Director in Riyadh
ADNOC Drilling Targets Over $1 Billion in Investments for 2025 Amid Gulf Expansion Plans
Derayah Financial Achieves Remarkable Growth in Saudi Brokerage and Asset Management
Saudi Arabia Shortlists 30 Firms for Mining Licenses in Eastern Province and Tabuk
Saudi Foreign Minister Engages Counterparts at G20 Meeting in Johannesburg
Oil Prices Decline Amid Rising US Inventories
Saudi Arabia's NDMC Plans Green Bond Issuance by 2025
Moody’s Affirms Egypt’s Caa1 Rating Amid Positive Economic Outlook
Oman and Saudi Arabia Strengthen Economic Ties with New Agreements
Saudi Arabia Investments Propel Expansion of Qurayyah Power Plant
Saudi Capital Market Authority Advances SPACs and Direct Listings
Global Energy Leaders Gather in Riyadh for Symposium on Energy Outlooks
Al-Ahsa Region Sees 500% Growth in Tourism as Saudi Arabia Prioritizes Development
Saudi Arabia Advances Entrepreneurial Ecosystem in Al-Ahsa with New Agreement
King Salman Approves Official Saudi Riyal Symbol
Saudi Credit Card Lending Reaches $8.4 Billion Amid Digital Payment Expansion
King Salman Approves Official Symbol for Saudi Riyal
Putin Thanks Saudi Crown Prince for Facilitating U.S.-Russia Discussions
Saudi Foreign Minister Attends G20 Meeting in Johannesburg
Saudi Arabia Prepares for Nationwide Founding Day Celebrations
Inauguration of Hira Park and Walkway Enhances Jeddah's Urban Landscape
Crown Prince Hosts Leaders for Informal Meeting in Riyadh Amid Gaza Rebuilding Plans
Saudi Official Highlights Achievements and Media's Role in National Transformation
Three Expatriate Women Arrested for Prostitution in Riyadh
Saudi Arabia's Diplomatic Evolution Highlighted at Saudi Media Forum
Healthy Eating and Preparation Essential for Ramadan Fasting
Saudi Arabia and Japan Forge Sustainable Textile Partnership
Advanced Limb Surgery Restores Mobility in Pediatric Cancer Patient
Jeddah Event Explores AI's Role in Boosting Saudi Arabia's SME Sector
UN Representative Highlights AI's Role in Perpetuating Gender Stereotypes
Saudi and Jordanian Leaders Discuss Enhanced Security Cooperation in Amman
Saudi British Society Honors Cultural Bridge-Builders at London Gala
Saudi Media Forum 2025 Explores AI's Role in Modern Journalism
Saudi Arabia's Saqer Al-Moqbel Appointed as WTO General Council President for 2025–2026
Saudi Deputy Ministers Engage in Diplomatic Discussions with U.S. and Dutch Officials in Riyadh
Saudi Arabia to Launch Iftar Program in 61 Countries During Ramadan
Saudi Visitors Expected to Spend £942 Million in UK During 2025
Saudi Arabia Gifts Kaaba's Kiswah to Uzbekistan's Center of Islamic Civilization
Digital Cooperation Organization Concludes Fourth General Assembly with Multiple Agreements
×