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Last Updated on: 12th August 2025, 04:14 am
I thought we must have covered this report, but it seems we have not. Well, we have covered S&P Global Mobility reports in years past, including last year, when Tesla was still #1 in auto brand loyalty. However, a leaked update of the latest S&P Global Mobility report indicates that the EV company’s brand finally took a big hit — an “unprecedented” one — from Elon Musk’s various escapades.
Reuters exclusively reported that from an all-time brand loyalty high of 73% in June 2024, according to the S&P Global Mobility, loyalty to Tesla fell off a cliff since then. Households already owning a Tesla and being in the market for a new car chose another Tesla less and less from July 2024 onward. By March 2025, only 49.9% of Tesla owners in the market for a new car went back to Tesla. That’s even below the auto industry average.
Tesla brand loyalty rebounded a bit in May, rising to 57.4%, similar to Toyota and slightly above average. However, that’s still a solid 16 percentage points lower than a year prior, and it’s also below the brand loyalty of Ford and Chevrolet owners. Whether Tesla fans/shareholders know it or not, Ford and Chevrolet are beating Tesla on an important metric in the industry.
Perhaps you feel the word “unprecedented” gets thrown around too much and can’t be accurate, but it seems it is. S&P Analyst Tom Libby, who used the word to describe Tesla’s fall from grace, also said that he had “never seen this rapid of a decline in such a short period of time.”
Tesla new car sales have been dropping like a rock, and it’s more and more clear that’s directly related to Elon Musk going haywire like fembots from Austin Powers (if you’re old enough to remember them). If Musk stays out of politics for long enough now, or if his political activities are at least less visible, will Tesla loyalty climb back up? Or is the damage done once and for all and Tesla brand loyalty will never return to its +70% heights?
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