However, Tesla was an exception to the rule. It was one of three luxury brands that didn’t experience a decline in loyalty in that time, joining Maserati and Genesis, which are far smaller brands compared with Tesla.

When Tesla is taken out of the calculations, luxury declined by nearly an extra percentage point, landing at a decrease of 5.5 points to an average of 45.4 percent.

“Tesla’s sort of, frankly, hiding a little bit of the luxury decline, which is really twice as much as mainstream,” Libby said during the presentation.

Libby ruled out that Tesla was stealing customers from other brands.

Read Article

Only Three Luxury Brands Are Increasing In Loyalty - Can You Guess Who?

About the Author