According to S&P Global Mobility via Automotive News, Tesla and General Motors were both big winners in the 2022 Automotive Loyalty Awards. Tesla topped Ford for the first time in US brand loyalty by “Make.” Meanwhile, GM took the top honor for manufacturer loyalty.
The automotive industry is in the midst of a major transition, which is seeing plenty of emphasis on future vehicles, and, more specifically, those automakers that are embracing the move to fully electric cars. Ford is among a handful of automakers following in the footsteps of Tesla to become a global EV leader, but for now, Tesla fans are reportedly more loyal.
GM has seen a drop in consumer loyalty for three straight years now, at least according to the study. However, it was still able to snag the award for loyalty to an automotive manufacturer, and it did so for the eighth consecutive year. Loyalty has dropped over the years due in part to the impact of the COVID-19 pandemic and related supply chain constraints.
Ford has won an award in the US Automotive Loyalty Awards every year for the last decade. In fact, in 2021, it won the “Overall Loyalty to Make” award for the 12th year in a row. However, for 2022, Tesla got the nod, making it the first year over the last decade that Ford hasn’t won.
As you can see from the image above, Tesla also won for “Ethnic Market Loyalty to Make” and “Most Improved Make Loyalty.” In addition, the EV maker secured repeat wins for for “Highest Conquest Percentage” and “Alternative Powertrain Loyalty to Make.” S&P Global Mobility product manager Vince Palomarez noted:
“Ethnic buyers have increased their market share in the industry every year for the last decade, making them an important audience in building loyalty success for the foreseeable future.”
Some 40% of vehicle registrations in 2022 were from ethnic customers. Tesla’s consumer base for 2022 was well above that percentage, with an impressive 52% of its customers being considered ethnic.
Finally, the awards also include Segment Model Loyalty Awards. The Tesla Model 3 earned the 2022 loyalty award for “Luxury Small Car.” Tesla’s Model Y crossover secured the “Luxury Small Utility” loyalty award.
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