Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management took to X to slam Tesla’s current situation, saying the “brand is broken” and the board is responsible.

Gerber minced no words in his take on Tesla, saying the “brand is broken and may not be fixable.”

Tesla has come under growing criticism amid the worst downturn for a US automaker in recorded history. The company’s and is down almost 40% year-over-year. Much of the blame has been laid squarely on CEO Elon Musk, who seems far more interested in gutting federal agencies and hoovering mass quantities of Americans’ private data, than he does running the company he is responsible for.

In fact, Tesla bull Dan Ives recently 168彩票:called out Musk, saying it was time to step up and demonstrate that he’s still the company’s CEO.

Musk needs to step up as Tesla CEO at this criti🎐cal juncture. In a nutshell the word “balance” has been missing with Elon Musk and his abili🎀ty to run Tesla as CEO….while instead focusing all of his energy and time driving his DOGE initiative within the Trump Administration.

“Moment of truth” ahead for Musk/Tesla. The more Musk doubles down on DOGE and the Trump Administration…we have seen more protests erupt at Tesla dealers and violence against Tesla drivers in spots across the US and Europe. The stock has been under massive pressure down over🦂 50% from its highs in December and Tesla investors are seeing patience wear thin as Musk is not reading the room. We believe this is a “moment of trut꧋h” for Musk and Tesla….if Musk continues to head down the DOGE path 110% and showing no attention to Tesla during this turbulent time then brand damage will become more pervasive as right now our work in the field shows less than 5% (very contained) of Tesla owners would second guess buying a Tesla again due to Musk. We have been here before with Musk many times over the last decade…and he ultimately stepped up for Tesla shareholders.

While Musk’s DOGE activities are merely the latest issue impacting Tesla, coming on the heels of a host of antics that have tarnished the brand’s image. In fact, as early as mid-2024, market intelligence firm Caliber conducted a study that revealed Tesla’s brand consideration score had dropped to 31% from the 70% it enjoyed in late 2021.

“It’s very likely that Musk himself is contributing to the reputational downfall,” 168彩票:said Caliber CEO Shahar Silbershatz.

Of course, one of the most damaging things Musk did was 168彩票:displaying two 🍸apparent Nazi Sieg Heil salutes during President Trump’s second inauguration, as well as his support for the far-right German Alternative for Germany (AfD), a party with a long history of ties to neo-Nazism.

In the wake of Musk’s antics, Tesla’s stock has tanked, it’s sales have tanked, people are losing tens of thousands to unload their existing Teslas, and the brand has become one of the most toxic brands in America. Through it all, the company’s board of directors has been virtually silent, doing nothing to rein in Musk or push for the mercurial CEO to focus on his primary job.

It’s little wonder that Gerber questions whether the brand can be fixed and says the board should be replaced for negligence.