Maybe Elon Musk may have lost its charm for some consumers last year, but Tesla Inc. fared no worse in an annual analysis of customer retention for U.S. auto brands.
S&P Global Mobility recognized the maker of the Model 3 sedan and Model Y sport utility vehicle Monday for their overall brand loyalty and increased loyalty in 2022. Tesla was also an award winner again for the highest percentage of “conquests” and greater loyalty among owners of vehicles with hybrid or electric motors.
The market researcher distributes the prizes based on in its analysis of 11.7 million vehicle registrations new. S&P Global Mobility tracks vehicle ownership for American households and considers customers loyal when they purchase another new vehicle of the same model, make, or manufacturer. C.When a car manufacturer attracts a consumer of another brandis considered a conquest.
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General Motors Co. again won the award for overall loyalty among manufacturers, while Mercedes-Benz was the brand that scored the greatest improvement in the alternative transmission system segment.
The results indicate that Tesla far outweighed any detrimental effects its CEO may have had on the brand last year. Many users, which Musk acquired for $44 billion, gave up on the electric vehicle brand due to the billionaire’s myriad controversies on and off the social media service.
Historically, Tesla has enjoyed high customer loyalty rates, many of whom have become devoted supporters of both Musk and the brand. The discounts and benefits that Tesla offered to boost sales at the end of last year helped the company close hard, and your cargo equipment at home have also been a powerful retention tool, according to Vince Palomarez, director of product management for S&P Global Mobility.
“I am not equating Tesla with Apple, but you can see similaritiesPalomarez said. “The ones that are going to be a Tesla family, they are going to have the Model 3, they are going to have a charging station, they are going to come back and get a Model Y, similar to someone who has the iPhone and probably also has an iPad or a MacBook”.
One area where Tesla is failing, at least to some degree, is in attracting first-time EV buyers. Historically, more than 70% of American consumers who bought their first electric car bought a Tesla. “In the last year or two, as more EV models are introduced, we’re starting to see a decline in that share.Palomarez said.
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