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Friday 2 December 2022
Study: Toyota and Honda owners are defecting to Tesla
Tesla is siphoning customers away from Honda and Toyota, according to a new study released this week by S&P Global Mobility.
Among EV makers, Tesla remains in another league when it comes to attracting and keeping new customers. The Tesla Model Y has a 60.5% brand loyalty rate in the U.S., and nearly 74% of buyers are coveted conquest sales that come from outside the brand.
The effect seems more pronounced for Honda and Toyota though, with nearly 29% of Tesla buyers coming directly from one of those brands, according to the study.
Read the whole story on greencarreports.com