Tesla CEO Elon Musk announced that he will advertise for the electric car manufacturer.
Tesla CEO Musk, who does not prefer traditional advertising to increase car sales, said in his speech at the company’s annual shareholders meeting in Austin, Texas, “I guess I have to say that advertising is great. We advertise a little and see how it goes.” said.
On the other hand, Musk, who denied the market rumors that he could resign, reaffirmed that the long-delayed Cybertruck delivery would take place.
In a Twitter post he made in 2019, Musk had resisted the idea of advertising for years, stating that he “hates advertising” and that they use the money spent on advertising to develop better products.
Analysts described this statement by Musk as an effort to increase sales at a time when increased competition and a slowing economy are forcing Tesla prices to drop.
After Musk’s acquisition of Twitter in October, the company lost about 80 percent of its staff, and advertisers began not to prefer the social media platform.