{"id":119580,"date":"2023-10-02T22:19:41","date_gmt":"2023-10-02T22:19:41","guid":{"rendered":"https:\/\/cottontailsonline.com\/?p=119580"},"modified":"2023-10-02T22:19:41","modified_gmt":"2023-10-02T22:19:41","slug":"tesla-cybertruck-to-boost-brands-loyalty-rate-further-analyst","status":"publish","type":"post","link":"https:\/\/cottontailsonline.com\/auto-news\/tesla-cybertruck-to-boost-brands-loyalty-rate-further-analyst\/","title":{"rendered":"Tesla Cybertruck To Boost Brand's Loyalty Rate Further: Analyst"},"content":{"rendered":"
Tesla enjoys the highest customer loyalty rate among all carmakers, and analysts believe the Cybertruck could boost that even further.<\/p>\n
Currently, brand-loyal owners of Tesla EVs are rather limited when it comes to making an upgrade as the carmaker’s lineup only includes two sedans \u2013 Model 3 and Model S \u2013 and two crossovers \u2013 Model Y and Model X.<\/p>\n
However, the Tesla Cybertruck’s expected arrival in the coming weeks could provide some needed variety, according to S&P Global Mobility<\/em> via Automotive News<\/em>.<\/p>\n The Cybertruck is seen as “vital to keeping Tesla fans within the brand” by Kent Chiu, associate director of consulting services at S&P Global Mobility<\/em>, which tracks Tesla loyalty data. Other Tesla products that would expand the portfolio are also seen as vital for the brand to maintain its high loyalty rate.<\/p>\n “The Cybertruck, a second-gen Roadster and a vehicle positioned below the Model 3 have all been promised and should migrate existing owners up or perhaps sideways within the brand. Now, Tesla needs to get them to market,” Chiu said in a September 13 blog post.<\/p>\n Tesla’s overall loyalty rate is 68 percent, far above the industry’s average luxury brand loyalty rate of 46 percent. This means that just 32 percent of owners leave Tesla to buy a new vehicle.<\/p>\n The loyalty rate rises to a spectacular 90 percent when Tesla owners specifically purchase a battery-electric vehicle \u2013 only 10 percent of Tesla owners leave the brand to buy an EV from another carmaker.<\/p>\n While the Cybertruck’s wild styling make it an unusual vehicle, current Tesla owners appear to be eagerly awaiting its debut. A survey of Model 3 owners published by Bloomberg<\/em> in July revealed that about half of those planning to buy a new vehicle in the next two years said they were considering a Cybertruck. More than 7,000 verified Model 3 owners completed the survey.<\/p>\n It’s likely that many Model Y owners think the same, especially since they can only upgrade to a Model S or Model Y at the moment, and those are much more expensive vehicles starting around $75,000 and $80,000, respectively. Mind you, one of the big unknowns regarding the Cybertruck is pricing.<\/p>\n Kelley Blue Book<\/em> said in July it expected Tesla’s electric pickup to start around $50,000, which would be similar to the Ford F-150 Lightning. A $50,000 Cybertruck would certainly appeal to many Model 3 and Model Y owners, and many Model S and Model X owners would probably be interested in higher-spec Cybertruck trims.<\/p>\n An early sign of the Cybertruck’s popularity is the unofficial online tally of reservations, which estimates the total number at 2 million for the electric pickup.<\/p>\n Tesla CEO Elon Musk said in May that Cybertruck sales could range between 250,000 and 500,000 a year, depending on demand. <\/p>\n https:\/\/www.youtube.com\/embed\/Dq_jDFWdo2U?si=YraEnrcF9B1Oaik3<\/p>\n<\/p>\n