May 2022 Tesla brand loyalty more than doubles year-over-year and leads all brands industry-wide

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Tesla’s May 2022 model loyalty of 63% is excellent when viewed
from just about any viewpoint: it is extra than double its May perhaps
2021 loyalty of 29.4% it is the highest brand loyalty not only of
any luxury manufacturer but of any brand industry-extensive in May perhaps it is 12.3
PP above luxurious runner-up Lincoln it is 1 of only two favourable
calendar year-over-yr effects amid the 20 luxury manufacturers (with Lincoln)
it is the ninth consecutive regular Tesla loyalty larger than 60%
lastly, it is the only brand to crack the 60% threshold in brand
loyalty in the inventory scarcity-impacted 2021 or May CYTD 2022
time intervals.

A review of Tesla product-level data in May reveals that whilst
just about every product has expert sizable calendar year-above-12 months raises, the
Product 3 final results stand out. Model 3’s May perhaps return-to-market volume of
4,413 is 51% of the brand’s volume, creating its success that significantly
more vital. Design 3 May well model loyalty of 67.9% is more than
double the 12 months-ago tally and the maximum of any Tesla model (observe
that the smallest calendar year-around-year leap of any Tesla product
in Might was 29.8 share points). More, Design 3’s model
loyalty is the second optimum of any model in the marketplace,
trailing only the Ford Edge. Also, Styles 3 and X rank in the best
10 products throughout the marketplace in Might manufacturer loyalty Tesla joins
Ford, Chevrolet, and Toyota as makes with two models in the prime
ten in Could manufacturer loyalty.

Finally, these countrywide Tesla loyalty final results mask some
amazing DMA-amount effects. Tesla brand loyalty in May perhaps
exceeded 80% in six DMAs (all in California), like San Diego,
San Francisco, Fresno, Sacramento, Los Angeles, and Monterey. To
supply a broader point of view from which to accept how
extraordinary these final results are, countrywide model loyalty in May was
49.9%.

What does all this necessarily mean? In a nutshell, it suggests that Tesla not
only is providing a lot of cars and crossovers (far more than any other
luxury brand in Could), but that these consumers like their autos and
are shopping for one more one particular. These are ominous results for the rest of
the field. Each individual brand – luxury and mainstream – demands to
acquire an powerful aggressive response to Tesla as shortly as
feasible.

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Posted 01 August 2022 by Tom Libby, Associate Director, Loyalty Solutions and Marketplace Examination, S&P World-wide Mobility&#13
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This article was posted by S&P World Mobility and not by S&P World-wide Ratings, which is a independently managed division of S&P Worldwide.