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According to the new report published by Kelley Blue Book (KBB), Tesla brand purchases have dropped significantly. BMW, on the other hand, retains its number one position.
The news is not good for Tesla. Kelley Blue Book, a company that specializes in vehicle evaluation and automotive research in the U.S., just released its latest report. More than just a recap of numbers, it’s a survey of consumer perceptions of different brands.
Of the luxury brands listed as most desired, Tesla “drops” from fourth to sixth place in Q3 2022, behind BMW, Lexus, Cadillac, Audi and Mercedez.
KBB data shows that the consideration for the brand of the new Twitter boss has declined more than any other. BMW, on the other hand, retains its top spot in the ranking.
Is Tesla’s underperformance due to the media coverage of its creator or to small technical problems? According to KBB, Elon Musk’s controversial acquisition of the bluebird platform may have played a role, but is not a key factor in the drop in demand. According to KBB, Tesla’s cooling is due to increased competition, which is increasingly turning to electric, the rapid pace of model price increases as well as a lack of long-term inventory.
The report shares some interesting numbers, but not for the Texas-based company. Next to BMW or Cadillac, Tesla’s car sales only represent 12% of the US market. Compared to the previous quarter, this is a drop of more than 15% for the company that is still the most important luxury car brand. Regarding the different models, the Y and S are no longer on the list of the ten most purchased luxury vehicles.
Tesla in the red, when its competitors go green
Despite inflation, lack of raw materials and high energy costs, the slowdown in buyer consideration is not generalized to all luxury brands. Rivian, Lexus, Mercedes-Benz, Cadillac and Audi recorded the same percentage as in the second quarter. BMW, Buick, Genesis and Porsche generated gains in the third quarter.
But the news isn’t all bad for the electric car maker. Also according to the same report, Tesla’s purchases fell, but later recovered. The brand’s top-priced Model 3 remains the top vehicle considered by consumers in the luxury sedan category. They also rate it as one of the brands that puts fuel efficiency at the top of their priority list. It also ranks third, behind Mercedes and Cadillac for car interiors.
Known for his media chops, self-confidence and innate business acumen, Elon Musk acknowledges some challenges, but he remains optimistic: “Demand is a little tougher than it used to be. But as I said earlier, we are extremely confident in a great fourth quarter.” It wouldn’t do to let his ingenuity fall by the wayside…
Read also >Tesla faces supply challenges
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According to the new report published by Kelley Blue Book (KBB), Tesla brand purchases have dropped significantly. BMW, on the other hand, retains its number one position.
The news is not good for Tesla. Kelley Blue Book, a company that specializes in vehicle evaluation and automotive research in the U.S., just released its latest report. More than just a recap of numbers, it’s a survey of consumer perceptions of different brands.
Of the luxury brands listed as most desired, Tesla “drops” from fourth to sixth place in Q3 2022, behind BMW, Lexus, Cadillac, Audi and Mercedez.
KBB data shows that the consideration for the brand of the new Twitter boss has declined more than any other. BMW, on the other hand, retains its top spot in the ranking.
Is Tesla’s underperformance due to the media coverage of its creator or to small technical problems? According to KBB, Elon Musk’s controversial acquisition of the bluebird platform may have played a role, but is not a key factor in the drop in demand. According to KBB, Tesla’s cooling is due to increased competition, which is increasingly turning to electric, the rapid pace of model price increases as well as a lack of long-term inventory.
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According to the new report published by Kelley Blue Book (KBB), Tesla brand purchases have dropped significantly. BMW, on the other hand, retains its number one position.
The news is not good for Tesla. Kelley Blue Book, a company that specializes in vehicle evaluation and automotive research in the U.S., just released its latest report. More than just a recap of numbers, it’s a survey of consumer perceptions of different brands.
Of the luxury brands listed as most desired, Tesla “drops” from fourth to sixth place in Q3 2022, behind BMW, Lexus, Cadillac, Audi and Mercedez.
KBB data shows that the consideration for the brand of the new Twitter boss has declined more than any other. BMW, on the other hand, retains its top spot in the ranking.
Is Tesla’s underperformance due to the media coverage of its creator or to small technical problems? According to KBB, Elon Musk’s controversial acquisition of the bluebird platform may have played a role, but is not a key factor in the drop in demand. According to KBB, Tesla’s cooling is due to increased competition, which is increasingly turning to electric, the rapid pace of model price increases as well as a lack of long-term inventory.
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