Tesla aside, EV buyers aren’t staying loyal to EVs
Excluding Tesla, 52.1% of EV households stayed loyal to EVs this year through July, the study found.
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While Tesla continues to post industry-leading loyalty numbers, there are now some indications that households are less loyal to EVs from other brands, according to a new study from S&P Global Mobility.
“Nearly half of those non-Tesla EV households that have acquired a new electric vehicle still purchase an internal combustion vehicle the next time around,” according to the study. However, that could be as much a reflection of the non-Tesla EV brands as it is on EVs themselves.
Excluding Tesla, 52.1% of EV households stayed loyal to EVs this year through July, the study found. That means they stuck with EVs, but may have switched brands (possibly to Tesla).
For example, Nissan and Chevrolet EV owners were most likely to stay with EVs, at 63.2% and 60.6%, respectively. However, the most popular follow-up purchase for a Nissan Leaf household was a Tesla Model Y at 14.3%, followed by another Leaf at 12.4%.
Analysts theorized that “doubling down” on EVs could help automakers keep customers loyal to both EVs and specific brands. EV choices are fairly limited at Nissan and Chevy currently, with the latter winding down Bolt EV production without ramping up production of other models. Both brands have more EVs on the way, including a $30,000 Chevy Equinox EV and a new Bolt EV.
“BMW had the highest EV loyalty rate three years ago, but also has not changed that percentage since,” according to the study. In that timeframe BMW discontinued the i3 and shifted mostly to a lineup of EVs that mirror internal-combustion models, so that might have had something to do with it.
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