Tesla for years had more repeat U.S. customers than any other major automotive brand but its loyalty has plunged since CEO Elon Musk endorsed President Donald Trump last summer, according to data from research firm S&P Global Mobility shared exclusively with Reuters.
The data, which has not been previously reported, shows Tesla’s customer loyalty peaked in June 2024, when 73% of Tesla-owning households in the market for a new car bought another Tesla, according to an S&P analysis of vehicle-registration data in all 50 states.
That industry-leading brand loyalty rate started to nosedive in July, that data showed, when Musk endorsed Trump following an assassination attempt in Pennsylvania on the Republican nominee.
Holy fuck! Who knew
I bought my Tesla five years ago. I was really happy with the car until Elmo started going fash. Now I’m looking to sell it and I won’t buy another one was long as he’s around.
Musk = POS Nazi.
Sold my Tesla, will never buy one again. At one point, admittedly, had a CT reservation - canceled and got a GM EV.
Two friends sold their Tesla’s and will never buy one again, got Toyota and Hyundai EVs.
Another friend’s Tesla lease is up in September, they’re ditching it and never buying Tesla again. Unsure what they’ll get next though.
Extended family in another state was going to get a Tesla, they just got another gas guzzler instead.
Fuck Tesla. I hope they collapse enough to really really hurt Elon’s pocket, they probably won’t, but one can dream.
What’s the GM EV you got and how do you like it? Thinking about buying another EV soon. Probably would have gotten another Tesla if Elon didn’t go full Nazi.
Silverado EV. I honestly like it a lot more than I expected and it has grown on me day by day. It is not Tesla-efficient however, but for everything I use it for it performs fantastic and the maintenance is practically non-existent.
My errands around town / daily driver is otherwise an older Chevy Bolt which is just fine as well.
Nice. I was just talking about how sharp those look with a friend a couple days ago. I might hold out until the Rivian R2s come out, but might have to check out the Silverados too.
Stocks remain disconnected from actual worth. The stock price indicates a company with more sales/profit than frickin Toyota which sold over 10 million vehicles compared to Teslas 2 million.
Current market cap of Toyota 285Billion, Tesla 996Billion.
The VW Group alone sold 3x the EVs in Europe as Tesla and are valued at 1/20th of Tesla.
I rarely see a Tesla where I’m from.
I went to Charlotte to see Modest Mouse in June and I couldn’t even count the Teslas. It really surprised me.
I swear to god everyone driving them appeared to be Indian. Not that it really matters, I just found it interesting.
Because Indian friends of mine think Elon is a god. Because that specific friend might be mentally retarded from the same drugs that Elon takes.
I want TSLA to get to the point where it can’t fall. It’s currently $300+ as of this post. Come on, y’all. Why are you still holding TSLA?
There are theoretical lower limits on the share price, where it can’t go much lower. One is the Book Value Per Share, which is the value after all debts are subtractes from all assets, per share. This is the theoretical value per share of the company had to end and all assets were instantly liquidated, with no upside for future revenue at all:
https://www.investopedia.com/terms/b/bvps.asp
The numbers from the most recent quarter show Telsa with a BVPS of $23.98.
https://finance.yahoo.com/quote/TSLA/key-statistics/
They also show that TSLA has more cash on hand than debt, $36B to $13B, and shows an operating profit. The stock price is not likely to crater until they start losing money on a regular basis, and even then they have a pile of cash they can use to stay afloat.
Elon may be a moron, but the people who run their financial side seem to know what they are doing.
They could also easily wind down some of their very high capital expenditures to last even longer. It’d mean slowing their growth and shelving some new ideas, things we probably haven’t even seen, but that would dramatically change their balance sheet.
Doing that isn’t good for the long term though, it would just cause a stagnation loop leading to further scaling back, but as a temporary measure if cash preservation was important enough, it is an option worth tens of billions over multi year time frame.
Edit: and by slowing growth I don’t mean their car sales are declining so that’s not growth, I mean maybe investing less in the AI super computer they are building, or not building a 2nd lithium refinery right away even if the 1st one works out as planned. The kind of things that are good for the future of the company, but you can’t just throw money at when things might turn dire and you need to hang onto that cash for security.
Some investment things like betterment will buy Tesla as part of their automation, and the end user might not even know.
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Didn’t think you needed data to come to this conclusion.
Exclusive!
It’s still generally good to back up claims with data rather than your gut. That’s what’s supposed to differentiate you and I from the Magats.
Yeah but it also leads to years-long gaps where it’s “just” gut feeling when we knew all along what it was.
“Scientists discover Trump supporters are narcissistic xenophobic assholes” - yeah we know.
Then corporate news sewers publish it like “see we’re on the side of truth” when MFs if you were on the side of truth you would have published this at the time, not four years later.
Data always helps, that’s why trump fired all the people with backbones.
He fired the statistician that said our employment sucked.
If we stop testing then there is no bad news. Should be this admins motto.
See the response to Covid during Trump One.
That’s what I was referring to, they think ignorance is bliss.
Is musk dead yet?
Yes. According to xAI: “Musk has been killed by violent leftists 5 times this year alone, three of them being by people with very Jewish-sounding last names.”
TIL Musk is a cat. Only 4 more to go!
people with very Jewish-sounding last names.
Luigiberg?
Toxic toddler Trump torpedoes Tesla trading trends.
Truly terrific!
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I hate to be seen as defending the guy since he went full Nazi, but ……
Y’all have to remember he get paid in stock Options. When the stock tanks he gets nothing. However since it’s gone crazy over the last several years since they were originally granted, he made an obscene amount of money. He need it to keep rising.
I’d like to see him put his money where his mouth is: let’s see him take the same deal, get paid in options, now that Tesla is tanking. Realistically it was a great car company in a lot of ways and I’d like to see it survive his craziness
Tesla just needs to update it’s logo to better represent it’s leadership:
What? Noooo…
If you buy a new Tesla, it will get vandalized.
The thousands of them I see on the road in every country I’ve visited seem to indicate that not being fully accurate.
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