With those strategies, Tesla generated revenues and launch new products. At the same time, they have also applied a new method to save money. Like, many big carmakers they did not spend money on advertising for their cars. Rather, they took a different approach and used social media platform in spreading the word. According to Global Equity Analyst Trip Chowdhry Tesla spends $6 per vehicle for advertising. And with this small spending, the demand and the popularity of their vehicles is pretty high. Galileo Russell, who is one of the shareholders and guest bloggers at Evannex did a survey on Tesla’s presence on social media. He found that in a five months period Tesla’s following has grown by 2.4 million, which is thirty-four percent and they
