Tesla loses footing among luxury car buyers

More and more luxury car buyers are considering a BMW BMW,
-0.01%
than any brand in the first quarter of 2022. But Cadillac’s rise to power might be bigger news. Or maybe Tesla’s TSLA,
+5.14%
big slip is the title.

The findings come from Kelley Blue Book’s Brand Watch report – a consumer perception survey that also incorporates consumer buying behavior to determine how a brand or model compares to its segment competitors on a dozen key factors. for a consumer’s purchasing decision.

Our researchers create a separate Brand Watch report each quarter for non-luxury and luxury brands. Toyota™,
+0.48%
attracted the most attention from buyers in the non-luxury report.

BMW being the most regarded brand is nothing new. The brand held the top spot for more than three years until the fourth quarter of last year. Lexus briefly took its title then. Lexus fell to third place last quarter.

The 10 most famous luxury brands:
  1. BMWs: 21%

  2. Cadillacs: 18%

  3. Lexus: 17%

  4. Mercedes: 16%

  5. Tesla: 15%

  6. Audi: 14%

  7. Acura: 12%

  8. Buicks: 11%

  9. (tie) Infiniti: 8%

  10. (tie) Genesis: 8%

Cadillac took second place thanks to its Escalade full-size SUV. It has captured the attention of more buyers than any other luxury vehicle.

Tesla, meanwhile, fell from third place at the end of 2021 to fifth at the start of 2022.

To see: All companies that manufacture or project electric vehicles

There are at least two ways to read Tesla’s slip. One is that it faces more competition than ever before as most automakers introduce new electric vehicles in 2022. Purchases for the Model 3 and Model Y each fell 30% in the latest survey. .

Lily: Death to the car dealership – the Tesla sales model is about to take over America

The other is that Tesla buyers know what they want and don’t consider other vehicles. Late last year, the company became the top-selling luxury automaker in the United States. It continues to dominate electric vehicle sales – 75% of electric vehicles purchased by Americans last quarter were Teslas.

The 10 most popular luxury models:
  1. Cadillac Escalade

  2. Buick Enclave

  3. Tesla Model 3

  4. Tesla Model Y

  5. Lexus RX

  6. BMW 5 Series

  7. Acura MDX

  8. BMW 3 Series

  9. BMW X5

  10. Buick Encore

This story originally took place on KBB.com.