Tesla wins seven awards at the Automative Loyalty Awards
Tesla
Tesla emerged as the big winner at the S&P Global Mobility's 27th annual Automotive Loyalty Awards, securing seven awards. The electric car maker's most significant win was in the 'Overall Loyalty to Make' category, dethroning Ford for the first time in 12 years.
Customer retention is crucial for automakers since retaining customers is more cost-efficient than attracting new ones, and stealing customers from other automakers is viewed as a significant win. Tesla's recognition is a testament to its commitment to delivering exceptional products and experiences that keep customers returning year after year. It looks like Tesla's unique marketing plan is working.
Tesla Adds to the Trophy Case
The awards analyzed 11.7 million new retail vehicle registrations in the U.S. during 2022 and recognized Tesla for exceptional performance in various categories. For example, Tesla won:
Overall Loyalty to Make
Ethnic Market Loyalty to Make
Most Improved Make Loyalty
Highest Conquest Percentage
Alternative Powertrain Loyalty to Make
Additionally, the electric car maker won two-segment model loyalty awards, with the Model Y winning the Luxury Small Utility award and the Model 3 taking home the Luxury Small Car award.
What the Wins Mean to Tesla
Tesla's win in the 'Ethnic Market Loyalty to Make' category was notable, with the brand's resonance with ethnic consumers being a key driver in its recognition of loyalty improvement and diversity retention. Ethnic consumers represented 40% of all personal vehicle registrations for 2022, and Tesla won the 'Ethnic Market Loyalty to Make' award as 52% of its loyal volume came from ethnic consumers.
S&P Global Mobility determines loyalty when a household that owns a new vehicle then acquires another vehicle of the same make, model, or manufacturer. Tesla's repeat wins in the 'Highest Conquest Percentage' and 'Alternative Powertrain Loyalty to Make' categories were attributed by S&P Global Mobility to "an active return-to-market consumer base and a majority share of BEV sales," contributing to Tesla's loyalty performance this year.
Legacy Auto Losing the Fight
Ford often boasts of its customer loyalty, but it was not enough to beat Tesla's make loyalty rate of 67.2% for 2022. However, Ford did hold on to the light-duty pickup segment. Meanwhile, General Motors retained its "Overall Loyalty to Manufacturer" title for the eighth consecutive year and 19th win in the last 27 years. S&P Global Mobility credits GM's substantial loyalty gains to the rising inventory levels that met the demand for its SUVs and pickups.
The industry-wide customer loyalty rate fell for the third year due to ongoing supply chain, manufacturing, and delivery disruptions caused by the COVID-19 pandemic and other global issues. For the 2022 awards, S&P Global Mobility did not supply raw data for the outcomes.
For the first time in quite a while, Tesla has increased the price of one of its vehicle offerings. The Model S Long Range and the Model S Plaid have both received a hefty price increase. However, not all is bad - as Tesla also added a new benefit for buyers.
Price Increase
The price increase for the Model S is $5,000 - currently only in the United States. This price increase will likely impact other markets, including Canada, in the coming days.
The Model S Long Range now starts at $79,990, while the Model S Plaid now starts at $94,990. The Model S and Model X now have the same starting price. Interestingly, that’s also the same pricing point for the Cybertruck AWD and Cyberbeast Trimotor non-Foundation Series.
The vehicle configuration does not appear to have changed, so the new pricing is simply an increase rather than the addition or removal of features. Tesla previously cut the price of the Model S and Model X by 15% in 2023, so this could simply be an adjustment to ensure that the vehicle pricing stays in line with inflation and other factors.
Free Lifetime Supercharging
For those on the fence about ordering a Model S, Tesla has brought back Free Lifetime Supercharging when you order a new Model S on or after December 13, 2024. As always, Free Lifetime Supercharging is restricted to the buyer’s Tesla account and to that specific vehicle. It cannot be transferred to another vehicle or another owner after ownership transfer. It’s worth noting, that it also doesn’t exclude the owner from receiving Supercharger idle fees or congestion fees. There is currently no end date for this promotion.
There are currently no changes to the Model X, neither a price increase nor the addition of Lifetime Superchargering. However, when Tesla makes changes to one of their premium vehicles, it usually affects the other one as well. So be on the lookout for potential changes to the Model X offering in the coming days.
We’ve seen Tesla value Lifetime Supercharging at $5,000, so this falls in line with the price increase we’re seeing. It’s possible that Tesla will begin to bring back Lifetime Supercharging as a perk for buying into their more premium Model S and Model X cars, or this could be another temporary promotion to get buyers who are on the fence to go ahead and make their purchase while this promotion lasts.
Tesla recently showed off a demo of Optimus, its humanoid robot, walking around in moderately challenging terrain—not on a flat surface but on dirt and slopes. These things can be difficult for a humanoid robot, especially during the training cycle.
Most interestingly, Milan Kovac, VP of Engineering for Optimus, clarified what it takes to get Optimus to this stage. Let’s break down what he said.
Optimus is Blind
Optimus is getting seriously good at walking now - it can keep its balance over uneven ground - even while walking blind. Tesla is currently using just the sensors, all powered by a neural net running on the embedded computer.
Essentially, Tesla is building Optimus from the ground up, relying on as much additional data as possible while it trains vision. This is similar to how they train FSD on vehicles, using LiDAR rigs to validate the vision system’s accuracy. While Optimus doesn’t have LiDAR, it relies on all those other sensors on board, many of which will likely become simplified as vision takes over as the primary sensor.
Today, Optimus is walking blind, but it’s able to react almost instantly to changes in the terrain underneath it, even if it falls or slips.
What’s Next?
Next up, Tesla AI will be adding vision to Optimus - helping complete the neural net. Remember, Optimus runs on the same overall AI stack as FSD - in fact, Optimus uses an FSD computer and an offshoot of the FSD stack for vision-based tasks.
Milan mentions they’re planning on adding vision to help the robot plan ahead and improve its walking gait. While the zombie shuffle is iconic and a little bit amusing, getting humanoid robots to walk like humans is actually difficult.
There’s plenty more, too - including better responsiveness to velocity and direction commands and learning to fall and stand back up. Falling while protecting yourself to minimize damage is something natural to humans - but not exactly natural to something like a robot. Training it to do so is essential in keeping the robot, the environment around it, and the people it is interacting with safe.
We’re excited to see what’s coming with Optimus next because it is already getting started in some fashion in Tesla’s factories.
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