Tesla’s brand loyalty in the first half of 2023 exposed: far exceeding the industry average

Recently, according to foreign media reports, S&P Global Mobility analyzed new car registration data in the first half of 2023 and found that:Tesla's consumer brand loyalty is far higher than that of other automakers.It is reported that,Tesla's consumer brand loyalty is 68.4%, which is much higher than the industry average of 50.6%.

S&P Global Mobility pointed out that Tesla's full line of models has a high customer retention rate.

in,The Model 3 model performed even better, with its consumer brand loyalty reaching an astonishing 74%.Interestingly, when these consumers purchase Tesla again, they usually choose Model Y.

Vince Palomarez, associate director of loyalty product management at S&P Global Mobility, said:Tesla has proven it has a strong connection with customers despite growing competition in the all-electric vehicle market.

And reasonable price reductions and timely incentives help drive interest and maintain the brand's positive momentum.

Finally, S&P Global Mobility said: The brand loyalty rate in the automotive industry will remain at 50.6% in the first half of 2023. This number was 54.7% in the first half of 2019, 54.8% in the first half of 2020, 52.7% in the first half of 2021, and fell further to 50.6% in the first half of 2022.