Toyota Loses Consumers to Tesla in Brand Loyalty Ranking

Japanese Car Brand Slips to 7th Place in Study.

Toyota has lost its place in the top tier with regards to brand loyalty in the United States, dropping down into seventh in the S&P Global Mobility analysis conducted over the initial four months of this year, as reported by Automotive News.

Typically, Toyota is “on par with” Ford and Chevrolet, according to analyst Tom Libby, but in this most recent installment of ratings, the Japanese auto maker has seen a decrease that was partially due to customers leaving for Tesla.

According to the source, the proportion of consumers who switched from Toyota to Tesla was elevated by 2.1 percent compared to last year, reaching a total of 5 percent.

At the country’s mainstream car level, Ford secured a 59.5% loyalty rate in 2019 up until April, riding just ahead of Chevrolet who bring in 57.1%. Subaru, Nissan, Kia, and Hyundai all follow behind with a lower percentage. Contrastingly, Toyota suffered a dropoff from their 2018 numbers, sliding to 52.3% loyalty, down a substantial 5.7 points.

Once more, Tesla was on the pinnacle of luxury brand rankings, posting a loyalty rate of 68%, nearly 20 points beyond BMW in second place and 1.1 ahead of its former year record. To be distinct, Tesla is the solitary brand examined that has a relation higher than fifty percent with Lexus, Mercedes-Benz, and Cadillac also in next places after BMW.

Additionally, the US-based Tesla organization remains the only one keeping more customers than it is letting go of, which Libby finds astonishing, reflecting on how since 2020, when Model Y deliveries initiated, this Austin-positioned electric car maker hasn’t discharged a latest car.

In other news, Ford, General Motors, Rivian, and Volvo have been granted access to Tesla’s Supercharger network of DC rapid chargers across the United States and Canada as of next year. Initially, these auto makers will require a CCS1 to NACS adapter in order to charge up their EVs, yet beginning in 2025, the relevant manufacturers will include the NACS intake on their vehicles straight from the production lines.

Source: S&P Global Mobility via Automotive News