Consumer Reports is Torn on Tesla Motors. Do They Love or Hate Elon’s EVs?

Tesla Model 3 (TSLA)

Tesla Motors Inc has claimed the top spot in the annual owner satisfaction survey of Consumer Report. The survey polls subscribers about their vehicles and their feelings towards the brands that manufacture them. The survey found that around 91% of Tesla owners would purchase another Tesla car in the future. This flies in the face of other Consumer Reports assessments of Tesla which find the Model X and Model S lacking.

Ahead of Porsche and Audi

Consumer Reports survey covered more than 300,000 different cars, and Tesla regained the top spot that it held last year as well. The No.2 spot was taken by Porsche while the No.3 spot was taken by Audi. The EV firm bested the Porsche by 7 percentage points. The rankings represent the number of respondents, who said they would definitely buy another electric vehicle by the same car company in the future.

The publication said their brand rankings represent owner sentiment across the product line of each product. “Model satisfaction is determined by the percentage of owners who responded “definitely yes” to the question of whether they would buy the same vehicle if they had it to do all over again,” Consumer Report says.

Further, the Consumer Reports said that they took a straight average of the satisfaction score for models of each brand to determine brand love or brand disdain.

The brand had to have at least two models in order to qualify. Consumer Reports focused on vehicle from model years 2014-2017. The top ten brands, according to the survey, were Tesla (91%), Porsche (84%), Audi (77%), Subaru (76%), Toyota (76%), Honda (75%), Mazda (74%), Chrysler (73%), Chevrolet (73%) and Lexus (73%). You can find the complete list on the Consumer Reports website.

Consumer Reports and Tesla – a love-hate relationship

Consumer Reports and Tesla Motors Inc have been in a love-hate relationship over the previous two years. The publication said that the Model S was the best car it ever tested. Last year, it declared that its rating system had to be modified because the P85D was so good that it scored 103 out of 100.

Tesla Motors Inc (NASDAQ:TSLA) Tesla Store
Source: Tesla

Later, however, the magazine halted recommending the Model S because the sedan scored below average on its reliability survey. Also, the publication chided the electric carmaker for the reliability of Model X, resulting in an overall low ranking in its yearly reliability survey when it comes to the Tesla Motors Inc brand as a whole.

In October, the Model S again earned the recommendation of the magazine on improved reliability, but the Consumer Reports and Tesla are still at odds on other problems mainly Autopilot, notes Electrek.

On Thursday, Tesla shares closed up 0.36% at $208.45. Year to date, the stock is down over 13% while in the last six-months, it is up 6%. The stock has a 52-week high of $269.34 and a 52-week low of $141.05.

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Adam Green is an experienced writer and fintech enthusiast. He he worked with LearnBonds.com since 2019 and covers a range of areas including: personal finance, savings, bonds and taxes.


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