Tesla Brand Loyalty More than Doubles YoY in US, Leading All Brands

von Eva Fox August 24, 2022

Tesla Brand Loyalty More than Doubles YoY in US, Leading All Brands

Image: Tesla

Tesla brand loyalty more than doubles year-over-year in the US and is leading among all brands, the data show. Tesla's performance is exceptional and unrivaled in the automotive market.

Brand loyalty is one of the most important indicators, as it shows the degree of consumer support for a brand and its products. It reflects customer satisfaction with the products of their chosen brand. If a company has high loyalty, then its products will be bought by customers again and recommended for purchase to others. This, in turn, leads to an increase in sales of these products.

Tesla brand loyalty in the US in May 2022 was 63%, which is exceptional when viewed from almost any perspective, according to S&P Global. This is more than double the loyalty in May 2021, when it was 29.4%. In addition, this is the highest brand loyalty not only among luxury brands, but among all brands in the industry in May. This loyalty score is 12.3 points higher than the second-place Lincoln in the luxury car segment. This is the ninth month in a row that Tesla's loyalty has exceeded 60%. To top it off, Tesla is the only brand to break the 60 percent brand loyalty threshold between 2021 and May 2022, at a time when the entire automotive industry was suffering from component shortages.




Source: S&P Global

A review of the data for all Tesla vehicle models for May shows that each model has grown significantly compared to last year. Among all, the results of Model 3 stand out in particular. Loyalty to Tesla Model 3 in May was 67.9%, which is more than double the figure of last year and is the highest among all Tesla models.

These results indicate that customers like Tesla vehicles, will buy another one, and will recommend them to people around them for purchase.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts; follow him on Twitter









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