Cathie Wood: Yes Tesla Brand Damage Has Happened

ARK Invest founder, CEO, and CIO Cathie Wood has told Bloomberg Radio that Tesla’s brand has been hurt by Elon Musk’s involvement in politics. Speaking to Caroline Hepker and Tom Mackenzie on Bloomberg Daybreak Europe, Cathie Wood said, “Brand damage, yes, it has happened.” The comments come just weeks after data showed that Tesla registered only 512 new vehicles in April in the UK. Figures from the Society of Motor Manufacturers and Traders showed that new vehicle registrations were down 62% from a year earlier. Tesla’s plunge was even more pronounced in Denmark, the Netherlands, and Sweden, with sales dropping by at least two-thirds in each country.