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Tesla is so desperate for sales it's started advertising, something Elon Musk famously said he 'hates'

Elon Musk
Elon Musk, the CEO of Tesla, said he hated ads in 2019. The company only started using them seriously in 2023.Ebrahim Noroozi/AP
  • Tesla is finally resorting to ads — something Elon Musk has avoided for years.

  • The company upped its ad spending to $6.4 million in 2023, The Wall Street Journal reported.

  • Investors are losing patience with Tesla amid stiff EV competition and managerial chaos.

Things are not going well for Tesla.

Between bad press about the electric vehicles themselves and the chaotic whims of its CEO Elon Musk, Tesla's stock value has dropped by nearly 30% so far this year.

Tesla's sales have gotten so bad that the company has resorted to advertising — something Musk famously said he can't stand.

"I hate advertising," Musk posted on Twitter, now X, in 2019.