According to Automotive News, Toyota has dropped to the seventh ranking in the S&P Global Mobility study that evaluates the first four months of the year from being among the top brands in terms of brand loyalty in the United States After making false claims about charging times and the availability of chargers (As resources claimed)
Toyota typically competes “neck and neck” with Ford and Chevrolet, according to analyst Tom Libby, but in the most recent rankings, the Japanese automaker has dropped in the rankings, in part due to consumers defecting to Tesla.
The proportion of consumers who made the switch from Toyota to Tesla, as reported by the source, increased by 2.1 points to 5 percentage points compared to the previous year.
the Japanese automaker Toyota has dropped in the rankings, in part due to consumers defecting to Tesla
Ford reported 59.5 point margin brand loyalty among the famous automobile brands in the US across April of this year, guided by Chevrolet with 57.1 percent and Subaru, Nissan, Kia, and Hyundai. Toyota saw a 5.7-point decline in brand loyalty to 52.3 percent compared to the same period last year.
“We will obviously have to watch the results going forward, but just in these first four months, Toyota is a disappointment,” Libby said.
With 68 percent of the votes cast, Tesla once again surpassed the premium brands category, completing 18.8 steps ahead of BMW in 2nd spot and 1.1 steps ahead of the previous year. In fact, Mercedes-Benz, Lexus, and Cadillac are ranked after BMW in regards to client loyalty, with Tesla being the sole brand in the research to have a loyalty rate including over 50%.
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Libby also observed that Tesla is the sole firm in the US that acquires more buyers than what it loses, which is unexpected given that the Austin-based EV manufacturer hasn’t released a new model since the Model Y began delivering in 2020.
In similar story, commencing next year, Tesla’s Supercharger network of DC fast chargers will be accessible to vehicles made by Ford, General Motors, Rivian, and Volvo all across the United States and Canada. The EVs manufactured by these companies will initially be able to charge using a CCS1 to NACS adapter, and starting in 2025, the automakers will install the NACS inlet on their vehicles as they are put together on the assembly lines.
Source: S&P Global Mobility via Automotive News
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