According to Kelley Blue Book Brand Watch, Tesla wrote the luxury vehicle story in the second quarter of 2019. Kelley Blue Book Brand Watch produces a report that shows how consumers shop. It determines how a brand measures up against their competitors. Let’s look at their report for the Tesla Model 3.
https://twitter.com/AlterViggo/status/1167327152221483008
The report details that consideration for luxury SUVs and cars are on equal footing. Usually, those shopping for a luxury vehicle have often preferred cars to SUVs, but now we are seeing essentially equal balance. Overall, 8 cars are in the top 15. The Tesla Model 3 is number one.
“For the first time ever, Model 3 soared to the top luxury car position, dethroning BMW 3 Series.”
Image courtesy Cox Automotive
The most considered luxury models overall show that the Tesla Model 3 moved to the #1 position in the second quarter. It was #6 during the first quarter of 2019.
Tesla has two models in the top 10 now, as the Model S came in at #8. This is a first for Tesla in Brand Watch history. The Model S was also #3 among luxury cars.
Image courtesy Cox Automotive
The 5th most important factor when shopping for a new vehicle, according to this report, was affordability — only trailing durability/reliability, safety, driving comfort, and driving performance.
Also, a recent Cox Automotive study showed that most of the luxury sales were in the $50,000–70,000 MSRP range. 85% of luxury vehicles were in that range so far this year.
Tesla was listed as a top-ranked brand in driving comfort, driving performance, technology, interior layout, exterior styling, fuel efficiency, and prestige/sophistication. Interestingly, although it tops safety ratings in the US and Europe, it didn’t rank at the top in that category in this report.
Why Is This Information Important?
Tesla bears/shorts often argue that there is no demand for the Model 3. Then they change their “no demand at all” narrative to “no demand after orders are filled” and often say that once the orders are completed, no one will ever order another Tesla ever again.
The argument is often changed to fit the needs of the naysayers as Tesla continues to sell its products quarter after quarter. This information shows just how incorrectly the “no demand” issue is, and points out that the continued change in the story to fit a pre-determined narrative no matter the evidence is getting old fast. In a sense, it’s like a person who can’t stop lying.
At first, it starts out as a small lie. Then they build upon it, add details, forget previous details, and eventually get caught because of a detail that they forgot they changed three times. As more sales data come to light, the bear thesis tries to focus on something new to discount the data, or simply distract those looking at it by providing a new “shiny” to grab their attention.
Often, these distractions are legitimate problems that are solvable, and the good thing about highlighting these problems is that it gives Tesla a chance to solve them. That makes customers happy, and happy customers lead to more word-of-mouth sales.
The important point, though, is simple: demand for Tesla vehicles appears to be strong, very strong, so current claims of a demand cliff (which have been made for at least the last year) seem to be another case of boys crying wolf.
Reports such as Kelley Blue Book Brand Watch show the actual truth, refuting many short, 280-characters-or-less tweets that focus on slandering a company, no matter the day or data.
Tesla is not just a top success story of the past year. It’s clear that the company has a lot of room to grow and learn. And as many who follow Tesla can see, it is doing exactly that.
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