Cybertruck Adds Diversity To Tesla Lineup, Increasing Brand Loyalty, Says Analyst

Tesla Inc TSLA has one of the top customer loyalty rates in the automotive sector.

The brand's loyalty rate dramatically increased to 90% when current owners decided to purchase another EV, leaving only 10% exploring other brands.

Analysts from S&P Global Mobility, as shared by InsideEVs, noted the impending release of the Cybertruck as a move that could fortify the allegiance to Tesla even more, offering current owners an upgrade option beyond the existing lineup of Model S, Model 3, Model X and Model Y.

This added variety to Tesla’s EV portfolio is a strategy that S&P Global Mobility's Kent Chiu regarded as “vital to keeping Tesla fans within the brand.”

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A July survey by Bloomberg revealed substantial anticipation for Cybertruck among Model 3 owners, with approximately half considering it as their next vehicle purchase. The survey highlighted the prevailing eagerness among Tesla owners for diversified and novel offerings within the brand.

Pricing and Popularity: Cybertruck’s potential starting price of around $50,000, as anticipated by Kelley Blue Book, aligned it competitively with offerings such as the Ford F-150 Lightning, increasing its appeal to current owners of Model 3 and Model Y. The pricing would likely attract Model S and Model X owners to higher-spec variants of Cybertruck.

The elevated interest in the Cybertruck was already evident from the approximately 2 million unofficial online reservations for the electric pickup, indicating a strong market presence upon its release.

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Photo: Courtesy of Tesla