Tesla, the electric vehicle giant, is facing challenges as its stock value has plummeted by nearly 30% this year. The company has been grappling with negative publicity surrounding its electric vehicles and the unpredictable behavior of its CEO, Elon Musk.
Despite Musk's aversion to advertising, Tesla has recently ramped up its marketing efforts, spending $6.4 million on ads in the United States in 2023 compared to just $175,000 in 2022. The company's ads have focused on promoting its Model Y on platforms like Meta and Google.
