Tesla's brand loyalty collapsed after Musk backed Trump, data shows
According to S&P Global Mobility's data, Tesla's brand loyalty collapsed after Elon Musk endorsed Donald Trump. Tesla's customer loyalty peaked in June 2024, at 73%, then bottomed at 49.9% in March. S&P analyst Tom Libby said it was "unprecedented" to see such a decline to industry-average levels. Tesla's US loyalty rate has since ticked back up to 57.4% in May.