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Tesla’s brand loyalty levels dropped from the best in the industry to fairly middling results, according to new data from S&P Global Mobility, and it’s all because of the company’s CEO, Elon Musk.

S&P Global Mobility tracks sales data across the automotive industry, and its new customer loyalty numbers are out, shared with Reuters this morning.

The numbers show a troubling trend for Tesla, and a historic drop in customer loyalty for the brand that long held the #1 title in that space.

S&P’s data shows that Tesla’s customer loyalty took a “nosedive” in July 2024, timed alongside Musk’s public commitment of hundreds of millions of dollars to the anti-environment political campaign of a convicted felon who had promised to do his best to destroy the EV industry (and who is Constitutionally barred from holding office in the US). And it continued to decline as his relationship deepened with the same candidate.

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According to the Reuters story, S&P’s numbers show that Tesla customer loyalty peaked at 73% in June 2024, but took a “nosedive” in the next month, and ended up bottoming out in March at 49.9%. That means about a third of Tesla owners who would have bought another Tesla decided to buy another brand as well.

S&P’s data is not based on surveys, but rather household-level data of which cars each household is buying.

Tesla’s loyalty since recovered to 57.4% in May, the most recent month included in the S&P data, still far less than its previous peak.

As can be seen in the graph above, Tesla was in a league of its own consistently. There were only single months where any other brand might have matched Tesla’s brand loyalty numbers over the course of the last several years – and this held true consistently in the period before S&P’s chart as well, as we at Electrek have covered many times in the past.

The drop from 73% to 49.9% even put Tesla briefly below the industry average, something which the company has never seen before. Even after recovery, Tesla is no longer in its first-place-by-a-long-shot position, and now behind Chevy and Ford and about the same level as Toyota.

Tom Libby, an analyst with S&P, was quoted by Reuters as saying he’s “never seen this rapid of a decline in such a short period of time.”

Another metric, customer defections, also showed trouble for Tesla. Customer defections show how many more households are switching from another brand to buy your brand, compared to the number of households switching from your brand to another.

Tesla’s customer defection numbers were “in a different stratosphere” to the rest of the industry for a long period of time. From 2020-2024, Tesla on average acquired five times more customers than it lost to other brands. The next-highest performers were Genesis at 2.8 and Kia/Hyundai at 1.5/1.4.

It makes sense that Tesla would gain more customers than it loses, given that it was and is a relatively new and growing brand. If people are switching to an EV, there’s a good chance they’ll switch to a Tesla since that’s the most well-known EV brand and is widely available. But Tesla’s numbers were really high.

But since July 2024, the defections have dropped significantly. Now, Tesla is below 2, a more than 60% drop in its defection rate, and putting it back in touch with the rest of the industry.

Further, it has been eclipsed by other brands – and not just startup EV brands who have the advantage of being new and thus naturally having a high conquest rate. Rivian, Polestar, Porsche and Cadillac all now exceed Tesla’s defection rate.

These poor results track alongside Tesla’s recent sales results, which have been dropping in just about every territory, even doing damage to the entire EV market as a result.

Today’s results, and Tesla’s recent poor earnings, spell trouble for Tesla, showing how Musk’s influence are damaging the high-flying company, which has always been treated as an exception in the industry (and in the stock market) due to its exceptional results across several customer and growth metrics.

Now, Tesla’s results are no longer exceptional – or rather, they’re exceptional in the opposite direction, with Tesla being one of few EV brands with falling sales in a rising global EV market.

But despite the trouble all of this spells for Tesla, it seems like it’s not spelling trouble for Musk himself. Even though he’s the reason that Tesla is crashing in the first place, the Tesla board just rewarded him with $26 billion today – a payday with more money for a single bad employee than Tesla has made in any year over its entire history, even as Tesla’s profits have been drastically declining this year as a result of Musk’s actions.

Electrek’s Take

We’ve previously covered how embarrassed owners have been modifying their cars with bumper stickers or badges to separate themselves from the image that Musk has built for the company. But now we have data showing just how many of them have stopped buying Teslas.

And it’s not just affecting prospective customers, but the customers who know how good the company’s cars are, and who had previously returned to buying Teslas in industry-leading numbers, and yet can’t stomach coming back because Musk is just so comically bad.

It would be interesting to see more from the graph above. We’re betting the numbers before Jan 2022 might have been even higher, as Musk’s public advocacy had already taken a turn towards the bizarre as he fell deeper into his twitter addiction.

But it’s clear what the biggest catalyst is – Musk’s ill-considered idea to give hundreds of millions of dollars to one of the dumbest people on the planet – someone who Musk himself had previously correctly said was “not good for America or the world.”

To be clear, Musk has always been relatively outspoken. But there were times where he was able to limit his advocacy to some more reasonable positions, stay somewhat more on message about the importance of fighting climate change (not anymore…), and stay out of the more obviously partisan political nonsense.

General wisdom does state that CEOs shouldn’t be too divisive, because dividing your customer base will only lead to a smaller addressable market. Surprise, it turns out that general wisdom is right.

Musk’s political advocacy has included support for German neo-Nazisagreeing with a defense of Hitler’s actions in the Holocaust, and many other white supremacist statements, along with his well-publicized public nazi salutes.

Then, Musk joined an advisory position where he spent his days finding ways to increase (not decrease) the country’s budget deficit, violate laws, and kill literally millions of people.

It should be a surprise to nobody (who isn’t deep in a twitter echo chamber that he himself devised) that all of this drove protests against the company and caused incredible damage to the Tesla brand which Musk has attached his public persona to.

And I would contend that supporting white supremacists is stupid in itself, but doing so publicly when you lead a company that relies on a good public perception, all while supporting someone whose stated goal is to destroy your industry, is particularly stupid. But his stupidity hasn’t just been limited to politics, but also to purely business decisions. And we can see how stupid it all is with the effect it has all had on Tesla’s sales results.

It would be interesting to see what happened in the intervening months, given the public breakup between Musk and Mr. Trump – though Musk has since apologized for his outburst (even though what he said was true), and Musk has continued to spread racist nonsense in the meantime. Protests are still ongoing and sales are still dropping, so the public seems to have a memory of Musk’s ridiculousness, even if he’s gotten slightly more quiet in recent weeks.

It would also be interesting to see how much different the results would be if there were more great EVs available in the US at good prices. EVs from other brands are getting better, but Tesla still has both great cars and a well-considered ecosystem around them, and $299/mo for a Model 3 is hard to beat. If there were more mass-market EV-focused challengers (like the upcoming Rivian R2/R3, a non-tariff-affected Volvo EX30, any of the myriad Chinese options available overseas, etc.), we think Tesla’s loyalty results might be even less resilient than they are.


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Hyundai’s small new EV has a wild aero hatch design and ducktail spoiler [Image]

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Hyundai's small new EV has a wild aero hatch design and ducktail spoiler [Image]

The IONIQ 3 is set to arrive as a smaller sibling to the IONIQ 5, but it will look a little different from other Hyundai EVs.

The Hyundai IONIQ 3 will debut a new EV design

Hyundai previewed the new electric hatchback, dubbed the Concept Three, at the Munich Motor Show in September.

The “Three” is Hyundai’s first compact electric vehicle concept under the IONIQ series, set to bring a radical new design to the family.

According to Hyundai, the Concept Three “represents the next step in the company’s electrification journey.” Production is expected to begin in early 2026 at Hyundai’s manufacturing plant in Turkey, with deliveries starting shortly thereafter.

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The new design, “Art of Steel,” is inspired by Hyundai’s advanced steel technology. Hyundai calls the Aero Hatch profile “a new typology that reimagines the compact EV silhouette.”

Hyundai kept a few of its signature design elements from other IONIQ EV models, like the Parametric Pixel lights at the front and rear.

Hyundai-small-EV
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)

With its official debut approaching, a few IONIQ 3 prototypes have been spotted driving in public in South Korea. Despite heavy camouflage, you could tell the production version was shaping up to be nearly identical to the Concept Three.

A new image from KindelAuto offers a closer look at the IONIQ 3, spotted in Europe with barely any camouflage.

You can clearly see the vehicle’s profile stays close to the concept, with a sleek, hot-hatch design and a ducktail spoiler.

The compact EV is 4,287 mm long, 1,940 mm wide, and 1,428 mm tall, with a wheelbase of 2,722 mm, or about the size of the Kia EV3 or Volkswagen ID.3.

Hyundai-small-EV
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)

Hyundai has yet to reveal battery specs or prices, but it’s expected to offer 58.3 kWh and 81.4 kWh battery packs, like the Kia EV3, providing a WLTP range of around 365 miles. Given the Kona Electric starts at £35,000 ($47,000), the IONIQ 3 will likely be priced closer to £25,000 ($33,700).

For those in the US, sadly, the IONIQ 3 is not expected to make the trip overseas, given America’s growing love for bigger trucks and SUVs.

The IONIQ 5 does, however, remain one of the most affordable EVs in the US, starting at under $35,000 with leases as low as $189 per month.

If you’re considering an EV, Hyundai’s lineup is absolutely worth checking out — offering over 300 miles of range, fast charging, modern tech, at a price that’s actually reasonable. Check out the links below to see what’s available by you.

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Elon Musk finally realizes the thing we all told him before his political misadventure

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Elon Musk finally realizes the thing we all told him before his political misadventure

Tesla CEO Elon Musk went on a podcast this week to express regret over the time he spent trying to destroy the American government, claiming that he wouldn’t do it again.

In the first half of this year, Musk took a position advising convicted felon Donald Trump (who cannot legally hold office in the US) on what essential government jobs to trim.

He named the group he led the “Department of Government Efficiency,” despite that it was never an actual government department, nor did it do a whole lot to increase efficiency as we will see below.

Musk claimed before taking the position that he could save the government $2 trillion – which was always going to be literally impossible, given the amount of discretionary spending in the US budget, as anyone with a passing interest in American government could have told you at the time.

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Unsurprisingly, Musk was unable to succeed in the impossible cuts he had proposed. After less than half a year (incidentally, not far off from the 130-day cap for unofficial advisory positions), Musk left the position amid a fiery breakup with Mr. Trump. The breakup led to a big drop in Tesla stock, which had been inflated due to expectations of corruption.

All in all, Musk claims that he cut around $200 billion from the government’s budget, but actual analyses show that those numbers were fake and in fact that his actions likely increased the budget deficit, rather than decreasing it. This is due to the disruption in necessary government services, higher costs for employee severance, and lost revenue for the government as ultra-wealthy tax cheats will be able to get off without paying their fair share.

And, in the interim, republicans passed a law that gives away $4 trillion to those same wealthy elites, adding $3.3 trillion to the deficit. That number is 16 times larger than even the inflated $200 billion “savings” number Musk claims.

How Musk’s actions harmed Tesla, not just the US

But Musk’s actions cosplaying as a government official had other effects than his failure to effectively cut waste: they turned public opinion against his companies, mainly Tesla.

Over the last couple years, Musk has increasingly tried to involve himself in politics, both in the US and abroad. His politics have largely focused on pushing white supremacist nonsense including support for German neo-Nazis and agreeing with a defense of Hitler, and funding and supporting groups that oppose renewable energy and vehicle electrification. He’s even rhetorically got into climate change denial himself.

These actions have directly harmed Tesla through loss of expected revenue, and have also reduced the brand’s profile in the public eye. Tesla is now the only EV brand with negative perception, and it’s due to Musk himself. His actions have driven protests against the companyembarrassed owners and pushed many customers away – including business customers.

As a result, Tesla’s sales have been falling both in the US and around the globe in a rising EV market. All told, one study found that he cost Tesla over 1 million sales in the US alone with his braindead political takes. Even his own company had to chide him.

It wasn’t hard to see this coming

These results were eminently foreseeable – anyone can tell you that business leaders typically should remain neutral on politics as a rule, and generally only speak on issues that directly involve their company or industry.

Wading into wedge issues and identity politics as a business leader can only serve to turn off customers, and since negative motivations are generally stronger than positive ones, you will net lose sales even if you appeal to some portion of the population with your advocacy.

And if you do advocate for something, it should probably be for something that will help your companies, rather than hurt them.

But Elon Musk is different. Unlike most business leaders, he has millions of useful idiots at his beck and call on twitter at any time (and it is indeed where he spends all of his time), ready and willing to tell him that all of his ideas are genius, no matter how braindead they are, or how recycled they are from his rage-filled feed which seems to be his only source of information these days. Why should conventional wisdom apply to someone who is constantly told conventional wisdom doesn’t apply to him?

And so, he ignored – or rather, probably didn’t even see, given the echo chamber he has formed around himself – the conventional wisdom telling him what a bad idea all of this was. And now, years later, he’s finally showing the slightest moment of lucidity that perhaps all of the above was not a great use of time.

Musk finally recognizes what we’ve been telling him all along

This week, Musk went on a podcast (hosted by Katie Miller, wife of American white supremacist Stephen Miller) and claimed that his advisory board was “a little bit successful. We were somewhat successful,” which is a rather middling assessment given his big initial claims of being able to save the government trillions of dollars.

But further, he went on to say that he wouldn’t do it all over again, and that “instead of doing DOGE, I would have, basically, built … worked on my companies.”

He said that if he had done that instead, “they wouldn’t have been burning the cars.” This is a reference to Tesla protests, which have largely not included burning anything, but which have been widespread globally.

We, of course, agree that that would have been a better course of action. Which is why we said it at the time. Perhaps it’s time to get off twitter and read some real thoughts for once, Mr. Musk. We’re not sure if the damage you’ve done is repairable (though it was certainly preventable), but as they say, “garbage in, garbage out” – the more nonsense you read, the more nonsense you’ll continue to get up to.


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BMW EVs officially gain access to Tesla Supercharger network today

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BMW EVs officially gain access to Tesla Supercharger network today

BMW is the latest major automaker to officially gain access to the Tesla Supercharger network in North America. Starting today, BMW EV drivers in the US can access over 25,000 Tesla Superchargers, adding a massive boost to the charging options for owners of the i4, iX, and other electric models from the German automaker.

It follows a wave of other automakers gaining access over the last year as the industry transitions to NACS (North American Charging Standard), Tesla’s proprietary connector that has now become the standard.

BMW confirmed today that the update is effective immediately. Owners can find Tesla Superchargers directly in their vehicle’s navigation system and the My BMW app.

However, like most other automakers making this transition, there is hardware involved. Current BMW EVs, which are equipped with CCS ports, will require a CCS-to-NACS adapter to use the vast majority of Tesla’s V3 and V4 Superchargers.

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According to BMW, official adapters will go on sale as accessories starting in Q2 2026. That is a bit of a wait, but in the meantime, some third-party adapters are already on the market.

For those lucky enough to live near one of Tesla’s few “Magic Dock” locations (Superchargers with a built-in CCS adapter), any BMW EV can charge immediately without needing to buy extra hardware.

BMW also clarified its timeline for native NACS ports, which will eliminate the need for an adapter entirely. The transition begins with the 2026 BMW i5 M60, followed by other models throughout the year, including the highly anticipated Neue Klasse iX3, which is expected to be a competitor of the higher-end trims of Tesla’s popular Model Y.

Interestingly, there is a software hurdle for some specific 2026 models. BMW noted that the 2026 iX and i5 eDrive40 will not be able to use Tesla Superchargers until they receive a remote software upgrade, also scheduled for Q2 2026.

One of the biggest pain points for non-Tesla EVs using the Supercharger network has been the user experience. Tesla has set a high bar with its “plug and play” ecosystem.

BMW seems to have done a good job integrating this. The automaker says that its Plug & Charge is supported at Tesla stations. You won’t need the Tesla app to start a session. Instead, billing is handled through the customer’s Shell Recharge account, which is integrated into the My BMW app.

Pricing will follow Tesla’s standard rate structure for non-Tesla vehicles, which is generally higher than what Tesla owners pay unless you pay a monthly membership fee.

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