Aug 4, 06:01 PM

Tesla Loyalty Falls After Musk Backs Trump, S&P Data Show

Customer-registration data from S&P Global Mobility show Tesla’s once-industry-leading brand loyalty collapsed after Chief Executive Officer Elon Musk publicly endorsed President Donald Trump last July. Tesla households that bought another Tesla dropped from a 73% peak in June 2024 to 49.9% in March 2025, falling below the U.S. industry average for the first time. The metric has since recovered to 57.4% as of May, roughly on par with Toyota but still trailing Chevrolet and Ford. S&P analyst Tom Libby called the slide “unprecedented,” noting the speed with which Tesla went from gaining nearly five new households for every one it lost to fewer than two. Analysts cited Musk’s heightened political profile, the aging model line-up and intensifying competition from rivals such as General Motors, Hyundai and BMW as factors that have driven customers to brands including Rivian, Polestar and Porsche. The disclosure comes as Tesla moves to shore up executive stability, awarding Musk 96 million shares valued at roughly $29 billion while he appeals a court ruling that voided his earlier pay package. Tesla and Musk declined to comment on the loyalty figures.

#Tesla #Elon Musk #Donald Trump #Toyota #Chevrolet #Ford #Tom Libby #Musk #General Motors #Hyundai #BMW #Rivian #Polestar #Porsche

Written with ChatGPT .

Tesla Loyalty Falls After Musk Backs Trump, S&P Data Show

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