Tesla for years had more repeat U.S. customers than any other major automotive brand but its loyalty has plunged since CEO Elon Musk endorsed President Donald Trump last summer, according to data from research firm S&P Global Mobility shared exclusively with Reuters.
The data, which has not been previously reported, shows Tesla’s customer loyalty peaked in June 2024, when 73% of Tesla-owning households in the market for a new car bought another Tesla, according to an S&P analysis of vehicle-registration data in all 50 states.
That industry-leading brand loyalty rate started to nosedive in July, that data showed, when Musk endorsed Trump following an assassination attempt in Pennsylvania on the Republican nominee.
Sold my Tesla, will never buy one again. At one point, admittedly, had a CT reservation - canceled and got a GM EV.
Two friends sold their Tesla’s and will never buy one again, got Toyota and Hyundai EVs.
Another friend’s Tesla lease is up in September, they’re ditching it and never buying Tesla again. Unsure what they’ll get next though.
Extended family in another state was going to get a Tesla, they just got another gas guzzler instead.
Fuck Tesla. I hope they collapse enough to really really hurt Elon’s pocket, they probably won’t, but one can dream.
Stocks remain disconnected from actual worth. The stock price indicates a company with more sales/profit than frickin Toyota which sold over 10 million vehicles compared to Teslas 2 million.
Current market cap of Toyota 285Billion, Tesla 996Billion.
The VW Group alone sold 3x the EVs in Europe as Tesla and are valued at 1/20th of Tesla.
What’s the GM EV you got and how do you like it? Thinking about buying another EV soon. Probably would have gotten another Tesla if Elon didn’t go full Nazi.
Silverado EV. I honestly like it a lot more than I expected and it has grown on me day by day. It is not Tesla-efficient however, but for everything I use it for it performs fantastic and the maintenance is practically non-existent.
My errands around town / daily driver is otherwise an older Chevy Bolt which is just fine as well.
Nice. I was just talking about how sharp those look with a friend a couple days ago. I might hold out until the Rivian R2s come out, but might have to check out the Silverados too.