Tesla continues to dominate the industry in brand loyalty
A new report from banking and investing giant Citi has found that Tesla now leads the automotive industry in brand loyalty by a wide margin.
With an increasing amount of competition within the automotive segment, particularly within the market of electric vehicles, a loyal following is proving to be more critical than ever.
Cybertuck is foreseen to further boost the Tesla brand within the EV Industry
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According to a new report from banking and investing group Citi, Tesla has that in spades. Not only has Tesla surpassed traditional brand loyalty leader Ford, but it is further away from the industry average than ever before.
The analysis completed by Citi found that Tesla has a brand loyalty rate of roughly 67%, just over 20 points higher than the industry average of 46%.
Unlike the industry average, which is more likely to lose a customer than retain one, Tesla retains a vast majority of the customers it conquers from other brands.
Citi found that the Tesla Model 3 had the highest loyalty rate for the brand, while the Tesla Model S had the lowest.
According to Citi, Tesla’s brand loyalty only seems to be increasing after a brief stint of decrease during 2021.
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