Kelley Blue Book: Tesla bumps Ford for owner loyalty

by | Mar 6, 2023 | Stock Market

Ford has enjoyed the highest owner loyalty in the automotive industry for 12 consecutive years — no more. Tesla
has stolen the owner loyalty crown.Inventory shortages reduced owner loyalty The numbers come from S&P Global Mobility’s annual Automotive Loyalty Awards study. In its 27th year, study authors say, the survey saw more change than usual.

“Industry-wide inventory shortages prompted many consumers to shop other brands if their previously chosen brand had insufficient stock. From pre-pandemic 2019, overall industry average loyalty has decreased from 54.6% to 50.2% in 2022,” study authors explain. The study tracked 11.7 million buyers who bought a new vehicle of the same make, model, or manufacturer as the last one they purchased. It considered data from calendar year 2022. Tesla took home the “Owner Loyalty to Make” title. Analysts had begun to question whether Tesla would retain its vaunted fan base after a controversial 2022 in which CEO Elon Musk made headlines buying Twitter. S&P’s survey reflects all of 2022, so any impact from the furor might not be fully reflected. But the company has seen a rally in its stock value and sales figures after a recent round of high-profile price cuts. See: Tesla unlocks EV network. What’s next in push to make chargers ‘as easy as filling with gas’ Ford’s
long dominance came mainly on the strength of its F-Series pickup – the best-selling vehicle in the U.S. for more than 40 years. But the big truck wasn’t enough to hold off the rise o …

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