Elon Musk’s Tesla is suffering a drop in approval ratings.
YouGov, a U.K.-based firm, conducts daily surveys to measure consumer perception of all types of brands, from television shows like “Jeopardy!” to automakers like Tesla.
According to Kelley Blue Book, a valuation and automotive research company, Tesla started the year strong with a positive score of 5.9%, peaking in May at 6.7%. But later in November, it fell to -1.4%.
This is also the year when CEO Musk bought Twitter after negotiations that took months. His array of businesses alongside his wealth and fame have made him a prominent figure in recent times.
Consumers have connected Tesla’s reputation to that of Musk, as Forbes noted, which could explain the drop in favorability for Tesla. Or, it could be the fact that the EV market is only getting more competitive.
Another survey verifies the downward trend. Morning Consult, a U.S.-based polling firm, also tracks the public perception of brands within the context of the two-party system.
The survey, reported by The Wall Street Journal, found “Tesla’s net favorability among self-described Democrats in the U.S. fell to an average of 10.4% this month through Nov. 27, down from an average of 24.8% in October.”
Meanwhile, support for the brand grew “to 26.5% from 20% among self-described Republicans during the same period,” the report added.
“It seems like Tesla is on its way to becoming a partisan brand,” Jordan Marlatt, tech analyst at Morning Consult, said, per the report.
The survey noted that if Tesla portrayed itself as right-leaning, it could disturb its core consumer base which leans more liberal, according to a press release.
Tesla had a head start when it began selling electric luxury and filling in the hole left by the market. But competition is heating up as legacy names, like BMW, Ford, General Motors, Mercedes-Benz and even Toyota, introduce newer electric vehicles to their lineups.
The automaker’s shares fell by 4% on Monday morning. Tesla cut prices in China, which had an effect on the market but the bigger problem may be that “many investors have lost some confidence in Tesla because Musk is being forced to focus so much of his attention on Twitter,” said Matt Maley, Miller Tabak’s chief market strategist, per Forbes.