Electric vehicles have been all the rage in recent years as the world shifts towards sustainable transportation options. Tesla, with its innovative technology and sleek designs, has been at the forefront of this movement. However, a recent survey of Morgan Stanley interns has revealed a surprising trend – Tesla’s appeal among Gen Z is declining. In this article, we will explore the factors behind this shift in preference and what it could mean for Tesla’s future.
## Declining Interest Among Gen Z
The survey found that Tesla’s desirability among Gen Z interns dropped to 11% in 2024, a significant decrease from previous years. Instead, other luxury brands like Mercedes and BMW were more preferred by the interns. This decline in interest can be attributed to various factors, including Tesla’s lack of model updates and controversies surrounding CEO Elon Musk.
## Impact of Elon Musk’s Controversies
Elon Musk, known for his eccentric personality and controversial statements, has been at the center of numerous scandals in recent years. From spreading misinformation to making offensive comments, Musk’s actions have drawn criticism from the public and media. This negative attention could be affecting Tesla’s image and sales, especially among younger consumers who are more aware of social issues.
## Lack of Model Updates
Another possible reason for Tesla’s declining popularity among Gen Z is the lack of significant updates to its car models. While Tesla has been credited for its cutting-edge technology and sleek designs, the company has not introduced major refreshes to its aging models in years. This lack of innovation could be making Tesla less appealing to younger consumers who are looking for new and exciting features in their vehicles.
## Shift Towards Robotaxis
Musk has been pivoting Tesla’s future towards autonomous driving and robotaxis, but Gen Z does not seem interested in this vision. The survey found that a significant percentage of interns would not use robotaxis, highlighting the skepticism towards this technology. While autonomous cabs may have potential benefits, they might not be practical or appealing to younger consumers who still value car ownership.
## Decline in EV Interest
Despite the growing popularity of electric vehicles, the survey revealed a decline in interest in EVs among the Gen Z interns. This could be due to the challenges associated with EV ownership, such as limited charging infrastructure and higher costs. While EVs are considered environmentally friendly, they may not be the most convenient option for young consumers, especially those living in urban areas or apartments.
In conclusion, Tesla’s declining appeal among Gen Z is a concerning trend that could impact the company’s future success. Factors such as Elon Musk’s controversies, lack of model updates, and skepticism towards autonomous driving are contributing to this shift in preference. As Tesla faces increasing competition in the EV market, it will be crucial for the company to address these issues and adapt to the changing preferences of younger consumers.