Tesla owners are loyal to their cars, while GM retains its most loyal customers – Tesla (NASDAQ:TSLA), General Motors (NYSE:GM)

General Motors General Consumers are most loyal to manufacturers Tesla Inc TSLA According to Automotive Research, car owners are most loyal to vehicles Standard & Poor’s Global Mobility.

what happened: The company said S&P Global Mobility announced its winners of its Automotive Loyalty Award earlier this week, based on reviews of 13.1 million new retail vehicle registrations in the U.S. between January and December 2024. Overall, it has been the third consecutive year-on-year growth in 2024. The company noted that more and more consumers remain in touch with their former brands when buying new vehicles.

Although GM won the award for its overall loyalty to the manufacturer, Tesla won the award for its overall loyalty. Both companies are award-winning champions and received the Loyalty Award in 2023.

Lincoln Pirates, by Ford Motor Company fwon the overall loyalty award to the model.

Why it matters: “While brand loyalty remains below pre-trend levels, we are starting to see customers return to the consistent trends of brands they are familiar with.” Joe Lafeirpresident, automotive insight, S&P global liquidity. “This will be important because we are driving uncertainty in the industry, assessing the impact of tariffs and trade on vehicle demand, thus making retention more significant.”

President Donald Trump has proposed a 25% tariff on imports from Mexico and Canada, which is scheduled to take effect in March. 4. With certain vehicles produced in Mexico by General Motors and Ford, the move is expected to significantly impact the automotive industry and have a supply chain that depends on the cross-border component movement.

“There is no doubt that Mexico and Canada’s 25% tariffs, if they last, will have a huge impact on our industry, billions of dollars in industry profits disappear, adverse effects on U.S. employment and adverse effects on our industry’s overall value system. Tariffs also mean higher prices will also increase prices on customers,” said Ford CEO Jim Farley. ”

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