Tesla Inc CEO Elon Musk, who has never used traditional advertising to sell cars, said on Tuesday that the company would give it a shot and see what happened.
Musk called it "ironic" that he now owned Twitter as CEO of Tesla. The social media network is heavily reliant on advertisements, and he recently hired advertising veteran Linda Yaccarino to lead it.
"So I guess I should say advertising is awesome, and everyone should do it," Musk said at Tesla's annual shareholder meeting in Austin, Texas. "We'll try out a little advertising and see how it goes."
It demonstrates his efforts to bolster investor confidence in Tesla's future at a time when increased competition and a slowing economy have prompted Tesla to cut pricing.
Since Musk's acquisition of Twitter in October, advertisers have deserted the social media platform, concerned that their advertising would show alongside inappropriate content after the firm laid off roughly 80% of its employees.
Musk has always opposed advertising, tweeting in 2019 that he "hates advertising" and that "we use that money to make the product great."
However, on Tuesday, he stated that many consumers are unaware of Tesla's affordability and "amazing" features and functionality.
(Source:www.ndtv.com)
Musk called it "ironic" that he now owned Twitter as CEO of Tesla. The social media network is heavily reliant on advertisements, and he recently hired advertising veteran Linda Yaccarino to lead it.
"So I guess I should say advertising is awesome, and everyone should do it," Musk said at Tesla's annual shareholder meeting in Austin, Texas. "We'll try out a little advertising and see how it goes."
It demonstrates his efforts to bolster investor confidence in Tesla's future at a time when increased competition and a slowing economy have prompted Tesla to cut pricing.
Since Musk's acquisition of Twitter in October, advertisers have deserted the social media platform, concerned that their advertising would show alongside inappropriate content after the firm laid off roughly 80% of its employees.
Musk has always opposed advertising, tweeting in 2019 that he "hates advertising" and that "we use that money to make the product great."
However, on Tuesday, he stated that many consumers are unaware of Tesla's affordability and "amazing" features and functionality.
(Source:www.ndtv.com)
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