Honda and Toyota drivers disproportionally leaping into Teslas

December 2, 2022

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 per cent 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 per cent of Tesla buyers coming directly from one of those brands, according to the study. Read original article here.

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