Kelley Blue Book: The luxury cars buyers look for most

by | Nov 23, 2022 | Stock Market

In the third quarter, 12% of luxury car shoppers considered a Tesla
product. That’s down three percentage points from the second quarter — the biggest drop in consideration among luxury brands. BMW
led all makes as the brand more shoppers consider.

Kelley Blue Book’s quarterly Brand Watch Report is a consumer perception survey that also weaves in shopping behavior to determine how a brand or model stacks up with its segment competitors on a dozen factors key to a consumer’s buying decision.Drop may have limited impact Tesla’s drop may not mean much in the short term. Its shoppers behave differently than buyers of other cars. Many traditional luxury car shoppers research multiple brands before buying, while many Tesla buyers only ever look at a Tesla. The company rose to become America’s best-selling luxury automaker without ever topping the Brand Watch survey. But its slip to sixth place could also be a sign that increasing competition from other automakers is eroding its edge in the electric car market. CEO Elon Musk’s controversial $44 billion acquisition of Twitter and provocative political comments may also have contributed to Tesla’s drop. Related: The brands and models car shoppers want most—despite inventory levels BMW took home the title comfortably, with 22% of luxury car shoppers considering a BMW product. Lexus and Cadillac tied for second at 17%. Fifteen percent of shoppers …

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