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Brand loyalty in the payment segment is declining
However, Tesla customers are becoming more loyal
Example 3 is convincing
As teslamag reports, the market research company JD Power recently announced that, according to a regular survey, the quality of new cars in the United States has fallen according to buyers’ evaluations. At Tesla, meanwhile, fewer problems per 100 vehicles have been reported than a year ago. There has also been a shift in brand loyalty.
Trust in the payments sector is declining
As reported by Automotive News, citing an assessment by S&P Global Mobility, the number of customers who would choose the same brand for their next purchase has decreased, while Tesla is the only major manufacturer in the premium segment to record clear growth. An analyst from S&P Global Mobility explained in a webinar that this is an “alarming” trend that the rest of the industry needs to take note of.
According to the report, the premium segment has seen an overall decline. From January 2020 to February 2021, 51 percent of new car buyers surveyed by S&P said they stayed with the brand they already owned. 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 car market, such as long delivery times, do not seem to have a negative impact on customer loyalty to the American electric car manufacturer Tesla, unlike other brands. As a graphic from Automotive News shows, customer loyalty at Tesla increased by nearly 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 Mercedes-Benz by seven percent. Apart from Tesla, Maserati and Genesis were the only brands that also recorded an increase in customer loyalty in the premium segment.
However, the exact numbers were only announced for the Model 3 in the Tesla report. 62.2 percent of customers who owned a Model 3 are said to choose the same car again between March 2021 and April 2022, compared to 54.7 percent in the previous period.
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