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.
I hate to be seen as defending the guy since he went full Nazi, but ……
Y’all have to remember he get paid in stock Options. When the stock tanks he gets nothing. However since it’s gone crazy over the last several years since they were originally granted, he made an obscene amount of money. He need it to keep rising.
I’d like to see him put his money where his mouth is: let’s see him take the same deal, get paid in options, now that Tesla is tanking. Realistically it was a great car company in a lot of ways and I’d like to see it survive his craziness