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.
Toyota and Lexus drive off with the most J.D. Power Residual Value Awards
For the second year in a row, Toyota and Lexus are the top make-level performing brands in their respective segments, according to the J.D. Power 2023 Canada ALG Residual Value Awards, which were announced today. “Lexus continues its solid, consistent …
Electric vehicles, fleet sales pushing up sales numbers in U.S.: S&P Global Mobility
The S&P Global Mobility auto outlook for 2023 continues to carry a countercyclical narrative: they “expect production levels will continue to improve even as economic conditions are worsening through the early stages of the year”. Together with improving production volumes, …
Polestar 2 aces crash tests, gets five-star safety rating
The Polestar 2 has been awarded an overall vehicle safety rating of five stars by the US National Highway Traffic Safety Administration (NHTSA), the highest possible score a vehicle can achieve in the agency’s New Car Assessment Program (NCAP). Polestar …
Digital license plates are cause for concern
Consumers may appreciate the connected vehicle experience, but they may also have concerns. More questions are being asked about digital license plates now that hackers can track the driver and collect personal information, according to Car and Driver. “A group …
Is Tesla reaching “saturation point” in California?
Tesla’s dominant market share of the electric vehicle market in California slipped again this year, according to Reuters’ calculations based on government data from January to September, as rivals up their games. Tesla controlled 73 per cent of the battery …
Tesla cuts prices; hiring freeze, layoffs may follow
Tesla reduced the price of several of its cars, both in the United States and in Europe. The move was done under the radar as news appeared on the company’s website on January 12 without an announcement from Tesla or …