Courtesy of Tesla, Inc.
Tesla’s auto brand maintained high levels of brand loyalty despite controversies surrounding CEO Elon Musk, as shown in a recent S&P Global Mobility study, reports Bloomberg.
The 2023 study, shared on Monday, looked at 11.7 million new-vehicle registrations and gives out awards based on U.S. household vehicle ownership and whether customers go with the same model, make or manufacturer when purchasing a new vehicle. When customers go with a different brand, it’s considered a conquest.
Tesla won the following awards:
While General Motors held the top spot for consumer loyalty out of all manufacturers, Tesla held the highest conquest percentage for the second year in a row in addition to its high brand loyalty. S&P’s Product Management Principal Vince Palomarez points to Tesla’s home-charging equipment offerings as a powerful tool for retention, not unlike the strategy of tech giants at Apple.
“I’m not equating Tesla with Apple, but you can see similarities,” Palomarez said. “Someone who’s going to be a Tesla family, they’re going to have the Model 3, they’re going to have a charging station, they’re going to come back and get a Model Y, similar to how someone who has an iPhone probably also has an iPad or a MacBook.”
Tesla won the ‘Overall Loyalty to Make’ award, marking the first time in the past 10 years it has not gone to Ford. In the 2021 awards, Ford won this award for the 12th time in a row, powered by loyalty to its F-Series trucks.
This isn’t the first time Tesla’s brand loyalty has been recognized, last year earning similar notes from the S&P Global Mobility research team.
