TESLA BUYERS HAVING MORE REGRETS

Buyer satisfaction with Tesla vehicles, led by Elon Musk, has notably declined over the past year, akin to a Tesla battery struggling in frigid conditions. According to the latest J.D. Power U.S. Automotive Performance, Execution, and Layout (APEAL) study, Tesla's satisfaction score dropped by nine points to 878 in 2023, compared to 2022. In contrast, established luxury brands such as Jaguar (887), Land Rover (883), and Porsche (883) have outperformed Tesla.

Despite this decline, Tesla remains one of the higher-performing brands in the industry, particularly when compared to the average satisfaction score of 845 across all vehicles. The APEAL study, which surveys buyers on over three dozen attributes—including exterior design, fuel economy, and infotainment systems—highlights that Tesla's score, while lower, still reflects a strong performance relative to the market.

The findings reveal a broader trend of decreasing satisfaction among new car buyers, with overall satisfaction across the industry falling to 845 points, down two points from the previous year. This decline is particularly evident in nine of the ten categories assessed, with only fuel economy showing improvement. The study underscores the need for manufacturers to better understand consumer preferences, as many innovative features are failing to resonate with owners.

The latest JD Power report arrives amid challenging times for Tesla, following a previous study indicating that Tesla vehicles are experiencing breakdowns more frequently than traditional gas-powered cars. This finding complicates the prevailing belief that electric vehicles are inherently easier to maintain than those with internal combustion engines.

Looking ahead, the 2024 buyer satisfaction ratings for Tesla will be particularly telling, especially since the 2023 figures do not account for the significant layoffs initiated by Elon Musk earlier this year, which affected over 10% of the global workforce.

These layoffs included key personnel responsible for the development and maintenance of Tesla's extensive Supercharger network, a vital feature for many Tesla owners. The backlash from these cuts prompted Musk to reinstate some employees, but the impact on the company’s operations and morale is likely to be substantial.

Overall, there is a growing sense of disarray within Tesla. The company's once-strong reputation is increasingly marred by quality control issues, delays with the much-anticipated Cybertruck, and Musk's focus on ambitious yet unfulfilled projects like autonomous driving and robotaxis.