Tesla has surpassed Ford for the first time in the U.S. Brand Loyalty Awards, according to a recent report by Experian. The report shows that Tesla’s brand loyalty score rose from 49.4% in Q1 2020 to 51.9% in Q4 2020, while Ford’s score decreased from 47.7% to 47.4% over the same period.
This is a significant achievement for Tesla, as it indicates that customers are increasingly loyal to the brand, which can lead to higher sales and a stronger market position. Brand loyalty is an important metric for car manufacturers, as it is a measure of how likely customers are to buy from the same brand again in the future.
The report also highlights that Tesla has a high proportion of repeat customers, with 80% of its sales in Q4 2020 coming from customers who had previously owned a Tesla vehicle. This suggests that Tesla is doing a good job of keeping its customers happy and retaining their business.
In contrast, Ford has struggled to maintain brand loyalty, with a lower proportion of repeat customers and a decreasing loyalty score. However, it is worth noting that Ford still has a larger overall market share than Tesla, with its F-150 pickup truck being the best-selling vehicle in the U.S. for over 40 years.
Overall, the report indicates that Tesla is gaining ground in the highly competitive automotive market and is succeeding in building a loyal customer base.