In a recent study, Tesla has achieved a tie with Lexus for the highest level of customer satisfaction among luxury automakers.
The American Customer Satisfaction Index (ACSI) serves as a nationwide gauge for evaluating the quality of economic outputs, aiding consumers in forming decisions based on the experiences of others. Originating from the University of Michigan, the Index tracks customer satisfaction levels across more than 400 of the United States’ largest companies.
The 2023 ACSI study for the American automotive industry has been unveiled, revealing a joint leadership position between Tesla and Lexus among luxury automakers.
In the previous year, Lexus earned a score of 84 out of 100. This year, the company experienced a minor decline by one point, reaching 83. In contrast, Tesla made a noteworthy improvement, climbing from 79 to 83, thereby sharing the top position with Lexus.
The ACSI report underscores the pivotal role of technology for younger luxury car buyers, noting an increasing trend among young individuals gravitating towards vehicles in this category. The survey stated, “For these younger buyers, technology is the driving factor. In this area, luxury vehicles live up to the hype: They outperform mass market by a score of 83 to 78.”
The study revealed that the satisfaction of younger luxury car buyers surpasses that of those purchasing mass-market vehicles. The category of younger buyers encompasses individuals aged between 26 and 41, with their overall satisfaction level with luxury vehicles being five points higher than their counterparts opting for mass-market cars. They achieved a satisfaction score of 82, in contrast to the 77 scored by mass-market car buyers.
From a broader perspective, the overall customer satisfaction in the industry experienced a 3 percent enhancement, resulting in a score of 79.
Forrest Morgeson, Associate Professor of Marketing at Michigan State University and Director of Research Emeritus at ACSI, commented, “Satisfaction with the auto industry as a whole has fully rebounded to pre-pandemic levels, and consumer demand is strong despite rising interest rates. The supply chain kinks that slowed production during the pandemic are starting to wane, and more cars are back in stock. Nearly every aspect of the driver experience — including driving performance, safety, dependability, gas mileage, and warranties — is better. And, despite higher prices, value perceptions have improved as well. These factors bode well for automakers — and their sales figures — in the second half of 2023.”
It’s notable that Tesla has received accolades from various sources, solidifying its status as a dominant player in the luxury vehicle segment. This recognition includes being crowned the premier luxury vehicle by Experian earlier in the current year.
