Tesla brand loyalty dips below industry average for the first time as it heads to less than 20% market share.
In a double whammy of concerning news about future demand for Tesla vehicles, both their market share and their owners' brand loyalty have started to go down. The share of Tesla owners who expressed satisfaction with their car and will order from the brand again, for instance, went below the industry average.
In another concerning for Tesla report, the share of its cars' owners who would buy from the company again has now slipped to 60%, down from 70% before, and below the industry average of 65%. That's the first time that the research firm HundredX is registering such a drop in Tesla brand loyalty. According to Rob Pace, its founder and CEO: "The future loyalty data is really, really worrisome if you’re Tesla because it tends to translate into market share six to nine months out."
