Brand loyalty of car customers in the premium segment is decreasing overall – but Tesla customers are becoming more loyal

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Brand loyalty in the premium segment is declining
However, Tesla customers are becoming more loyal
Model 3 convinces

As teslamag reports, the market research company JD Power recently announced that, according to a regular survey, the quality of new cars in the USA has deteriorated according to buyers’ assessments. At Tesla, meanwhile, fewer problems per 100 vehicles have been reported than a year ago. There have also been changes in brand loyalty.

Loyalty in the premium segment is declining

As reported by Automotive News, citing an evaluation by S&P Global Mobility, the proportion of customers who would choose the same brand for their next purchase has decreased, while Tesla was the only major manufacturer in the premium segment to record clear growth. An analyst from S&P Global Mobility explained at a web seminar that this is an “ominous” trend that the rest of the industry needs to take notice of.

According to the report, the premium segment has seen a significant decline overall. From January 2020 to February 2021, 51 percent of new car buyers surveyed by S&P said they stayed with the brand they already had. From March 2021 to April 2022, on the other hand, it was only 46.3 percent.

Tesla customers are becoming more loyal

Current problems in the automotive market, such as long delivery times, do not seem to have a negative impact on customer loyalty to the US electric car manufacturer at Tesla, in contrast to other brands. As a chart from Automotive News shows, customer loyalty at Tesla increased by around four percent from March 2021 to April 2022 compared to the period between January 2020 and February 2021, while it increased by 8.5 percent at Porsche and by 8.5 percent at Audi 7.3 percent and at Mercedes-Benz by seven percent. Besides Tesla, Maserati and Genesis were the only brands that also recorded increases in customer loyalty in the premium segment.

However, exact numbers were only announced for the Model 3 in the report for Tesla. 62.2 percent of customers who owned a Model 3 are said to have opted for the same car again between March 2021 and April 2022, compared to 54.7 percent in the previous period.

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