Tesla is enjoying the highest brand loyalty among US automakers, Citi analysts concluded early this year. While the brand continues to bask in a high loyalty rate, its rivals are luring a small percentage of its buyers, wrote S&P Global Mobility in its recent report.
Among electric compact utility vehicles, the Tesla Model Y has a 37.3 percent loyalty rate, while the Ford Mustang Mach-E is second at 18.5 percent. While 70.5 percent of Model Y owners buy another EV, the rest of them defect to gas-powered SUVs and trucks, S&P reported. That’s partially due to the large gulf in pricing between the Model Y, and Tesla's luxury EVs: Model S and Model X.
The Model Y Long Range currently starts at $50,490 before taxes, fees, and incentives after Tesla removed the lower-priced standard range variant from its online configurator. The Model S starts at $74,990, while the Model X’s starting price is nearly $80,000 before taxes and fees.
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