Tesla has historically been a brand with strong loyal ties among their consumer base, despite a limited product portfolio. Changes in BEV prioritization among other OEMs, along with Tesla's directive to cut pricing when needed, has kept households from defecting.
We can only report on what we see in the data. In this instance, there is some decline in Tesla's loyalty for the first half of 2024 vs. 2023; however, it is below one percentage point, noting that Tesla is still clearly beating other brands.
The brand still remains the industry leader in brand loyalty by a healthy margin. For comparison's sake, the industry brand loyalty average stands at 52.5% for H1 2024 and no other brand has a loyalty rate above 60%.
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