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Things are not going well for Tesla<\/a>.<\/p>\n Between bad press about the electric<\/a> vehicles<\/a> themselves and the chaotic whims of Tesla CEO Elon Musk<\/a>, Tesla’s stock value has dropped this year by nearly 30%<\/a>.<\/p>\n Tesla’s sales have gotten so bad that the company has resorted to advertising \u2014 something Elon Musk famously said he can’t stand.<\/p>\n “I hate advertising,” Musk posted<\/a> on Twitter, now X, in 2019.<\/p>\n Despite Musk’s dislike for ads, the company spent some $6.4 million on them in the United States in 2023, The Wall Street Journal reported<\/a>. That’s compared to a paltry $175,000 in ad spending in 2022. Tesla’s ads have touted its Model Y<\/a> on Meta<\/a> and Google<\/a>, according to their respective ad libraries.<\/p>\n The company has faced competition from buyers who prefer a hybrid vehicle<\/a> to a full EV, as well as companies offering incentives to switch, such as BMW’s limited-time $1,000<\/a> reward for customers who trade in for its own EV.<\/p>\n Musk agreed to try advertising in May after the suggestion came up at a company shareholder meeting, The Wall Street Journal reported. Investors are reportedly losing patience<\/a> with Tesla’s performance and managerial chaos.<\/p>\n “We’ll try a little advertising and see how it goes,” Musk said, assuaging a meeting attendee who suggested Tesla lacks appeal to wealthy drivers seeking a more sporty car, according to The Wall Street Journal.<\/p>\n Tesla did not immediately respond to a request for comment from Business Insider on Saturday.<\/p>\n<\/div>\n