Tesla buyers are remarkably loyal to the brand, and would buy again
This may not be surprising to you Tesla buyers Incredibly loyal to the brand. For example, 72.8% of Model 3 buyers would buy another Tesla after or in addition to their car. Model 3. This is a higher percentage of brand retention than any other brand on the market. Models Buyers are 59.9 percent brand loyal, whereas Model X And Model Y Buyers are less loyal because the brand doesn’t really have anywhere to migrate to.
“Tesla has had great success migrating customers from the Model 3 to the Model Y, which contributes to higher loyalty rates.” said Kent Chiu, associate director of advisory services at S&P Global Mobility. “Tesla has benefited from the industry’s shift toward CUVs. By bringing the Model 3 to market first, followed shortly after by the Model Y, it has given customers a path to move across the portfolio.”
When someone returns to the new car buying market after owning a Tesla Model 3, they tend to either move up to the Model Y compact crossover (40.3 percent), or get another Model 3 (26.1 percent). Meanwhile, the Model Y has the highest model loyalty rate on the market at 37.3 percent. The vast majority of Tesla buyers (78.9 percent) were convinced enough by Tesla to continue purchasing battery electric vehicles.
Since the beginning of the automobile market, companies have introduced new models to create a general flow from incoming customers to returning customers. For example, a Metro buyer will move up to the Cavalier, then into the Chevrolet lineup via the Monte Carlo and Malibu, perhaps with a side move to the Venture or Tahoe if they have kids or buy a boat. With luck, they’ll move to a Buick, Oldsmobile, or Cadillac as they age and prosper.
Tesla doesn’t really have that headway, and the price gap between the Model 3 and a Model S or Customers looking for something bigger are defecting to Rivian, which has stepped in to fill a market not yet filled by Tesla’s long-awaited Cybertruck.
For example, a company like Mercedes-Benz offers more electric size diversity than Tesla with two sizes of sedans and three sizes of crossovers. However, in its fossil fuel-powered lineups, Mercedes also has nine crossovers and SUVs as well as four sedan sizes, four coupes and three convertibles. Customers are begging for additional variety from Tesla, which has promised three new models for years and has so far failed to deliver.
The most popular non-Tesla for those trading in a Model 3 or Model Y is the Illinois brand’s R1T pickup, with a share of 1.3 percent and 2.1 percent, respectively. Tesla introduced the virtual R1T competitor Cybertruck at an event in 2019, and it was originally scheduled to be ready for sale in 2021. The Cybertruck delivery event is Currently said to be “coming” But knowing CEO Elon Musk and his tendency to exaggerate time, that could mean a few weeks from now or next year.
In contrast to the influx of traditional models, many Model S buyers actually step down to the Model 3 (7.9 percent) or Model Y (18.6 percent) because they offer much of the same experience for much less money. 21.7% of Model S buyers stick with the newer Model S, while 11.7% switch to the Model As vehicles move up in the lineup, loyalty rates decline, even with small peaks for model facelifts or major updates. The Model S has been on the market since 2012, and it’s been a bit of a slog, despite several new revisions to the mechanical and operational systems.
(Tags for translation)TESLA