Tesla has sturdy model loyalty, however Rivian and Lucid are starting to lure some Tesla house owners away, in line with a brand new examine from S&P International Mobility.

Most Tesla house owners stick with the model, the examine discovered. A whopping 72.8% of Mannequin 3 house owners exchange their vehicles with one other Tesla, as do 59.9% of Mannequin S house owners. Amongst Mannequin S house owners that do not stick with Tesla, although, the Lucid Air was the most well-liked substitute, at 3.4%, adopted by the Rivian R1T (1.8%), Mercedes-Benz EQS (1.6%), and Rivian R1S (1.2%).

The R1T pickup was additionally the most well-liked non-Tesla substitute for Mannequin 3 and Mannequin Y house owners, with 1.3% and a couple of.1%, respectively, making the swap to Rivian.

2023 Lucid Air Pure

For context, the most well-liked substitute total for a Mannequin 3 was a Mannequin Y, at 40.3%, whereas 26.1% of present Mannequin 3 house owners ended up with one other one of many sedans. Along with house owners who caught with the Mannequin S, 11.7% switched to the Mannequin X and seven.9% stepped all the way down to the Mannequin 3. However the outcomes point out Rivian and Lucid are making inroads with present Tesla prospects.

Tesla loyalty has been sturdy just about from the beginning, so different automakers have had loads of time to be taught from it. Again in 2015, 89% of homeowners surveyed stated they’d nonetheless purchase one other Tesla, even with out the federal EV tax credit score.

2023 Rivian R1T

Though plenty of house owners decide on one other Tesla, J.D. Energy discovered that simply 4% of homeowners stated that they’d solely contemplate Tesla in in search of a brand new car. So the problem might as a substitute be a scarcity of rivals. Whereas 70.5% of Mannequin Y house owners purchase one other EV, S&P discovered that many find yourself cross procuring internal-combustion SUVs somewhat than making the leap to the dearer Mannequin S and Mannequin X.

On the flip facet, a surprising 74% of patrons of the Mannequin Y have come from exterior the model, a earlier S&P examine discovered. Tesla stays at a few 60% share of the U.S. EV market.

As Shopper Stories bluntly summed, backed with a data-informed paper final yr, manufacturers not assembly EV demand will lose market share.