Tesla’s meteoric sales growth shows the brand has no problem stealing customers from legacy automakers, many of whom were admittedly slow to jump on the EV revolution. But other data confirms that Tesla is also very good at retaining those customers.
An incredible 72.8 percent of Model 3 drivers will trade their sedan in for another Tesla, though not necessarily the same model. Figures from S&P Global Mobility reveal that only 26.1 percent stuck with the Model 3 when replacing their vehicle during the last 12 months, while 40.3 percent stepped up to its Model Y SUV brother.
Given that last stat, and the huge gulf in the Tesla lineup between the Model Y and Model X, it’s no surprise to learn that Model Y owners are more inclined to order another Y than Model 3 drivers are to order another 3. More than 37 percent of Model Y drivers will return to the scene of the crime, which is the highest loyalty rate in the sector, and double the 18.5 percent retention rate enjoyed by the Model Y’s Ford-built rival, the Mustang Mach-E.
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But because many can’t afford to justify the jump to the Model X, though still need more space or luxury than the Y offers, only 70.5 percent of drivers will buy another Tesla. That’s still a great figure, but it’s not as good as the one for the Model 3 and makes it clear that Tesla could really do with a medium-sized SUV in its lineup.
Another interesting fact from S&P Global Mobility’s data is that while 21.7 percent of Model S owners go for another one, almost as many (18.6 percent) will downsize to a Model Y, and 7.9 percent drop to a Model 3. Other, less popular, alternative choices are the Lucid Air (3.4 percent), Rivian R1T (1.8 percent), Mercedes-Benz EQS (1.6 percent) and Rivian R1S (1.2 percent). Do you think Tesla will be able to keep these retention numbers up now that there are so many EVs available from other brands? Leave a comment and let us know.