Wealth manager Ross Gerber is known for his unrestrained takes on Tesla TSLA, and he’s once again making headlines—this time by pointing out a surprising shift in sentiment toward electric vehicles.
The U.S. Oil & Gas Association recently posted on X that its president is “just about ready” to buy a Tesla, not out of need, but to show support for American innovation. The group said it would go through with the purchase if its @US_OGA account reaches 61,130 followers before the end of the month. As of this writing, the account sits at about 50,700.
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Reacting to the news, Gerber posted, “Never thought I'd see the day. Even the gas people recommend you buy an EV! I agree! Politics aside, Tesla makes the best EV cars.”
A Longtime Supporter Turns Critical
Despite his praise for Tesla’s products, Gerber has grown sharply critical of CEO Elon Musk. In a recent interview with Sky News, he said Musk should step down unless he gives up his government role under President Donald Trump. “It’s time for somebody to run Tesla,” Gerber said. “The business has been neglected for too long.”
He argued that Musk has become too divisive and is stretched too thin. “Sales are plummeting so, yeah, it’s a crisis. You literally can’t sell the best product in the marketplace because the CEO is so divisive.”
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Tesla Stock Still ‘Too Expensive’
When Tesla stock dropped nearly 50% from its December highs, Gerber told Business Insider that he still thinks it's overpriced. “There's this game that is happening now where the fundamental story has to be revalued,” he said. He added that Tesla’s earnings need to rise before the stock becomes attractive again, especially as analysts have now downgraded vehicle sales projections for 2025 for the second year in a row.
He also pointed out how Musk’s political stances are reshaping Tesla’s customer base, saying the brand has lost liberal support and gained conservative buyers, resulting in a hit to the resale value of used Teslas. “If a liberal sells their Tesla to a conservative, how many new Teslas are sold?” he joked in a post on X.
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Bigger Worries Ahead
Gerber said he sold $60 million worth of Tesla shares in 2024 due to the company’s declining popularity, and just like former Waymo CEO John Krafcik, he cast doubt on Musk’s promise to launch a fleet of autonomous taxis by June, calling it “almost impossible,” and raised red flags about Tesla’s reliance on camera-based self-driving tech instead of lidar.
“His 100% focus is on AI, and that's really a detriment to Tesla more than it's a plus for xAI and all the other businesses because he doesn't work at Tesla anymore,” Gerber told Business Insider in February.
Despite all the criticism, Gerber remains firm on one point: “Tesla still makes the best EVs.” But as the company struggles with falling sales, competition from China, and mounting political backlash, even the best product may not be enough without a change at the top.
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