Tesla Wins Best Overall Luxury Brand from KBB
| LAST UPDATE 04/20/2023
Kelley Blue Book (KBB) has recognized Tesla's impressive performance, naming it the Best Overall Luxury Brand in its latest Brand Image Awards. This is the fourth consecutive year that Tesla has earned this prestigious award despite growing competition in the electric vehicle (EV) marketplace. The award is based on opinions from more than 12,000 new vehicle shoppers who took part in KBB's annual Brand Watch Study. The study looks at consumer appeal and brand image to identify those automakers that can excite and attract potential buyers, a crucial factor in the marketplace.
In addition to the Best Overall Luxury Brand award, Tesla garnered four other spots on the list: Best Value Luxury Brand, Most Refined Luxury Brand, Best Performance Luxury Brand, and Best Overall EV Brand. The recognition is a testament to the popularity of Tesla's brand image with consumers considering switching to electric vehicles. As KBB explains in its introduction, "The automakers that are awarded here have brand images that can excite and attract new car shoppers. And doing this is essential when it comes to success in the marketplace." Despite the ongoing competition for EV buyers' attention, Tesla remains the most appealing and recognizable EV and luxury brand in the auto industry.
Tesla earned this award on the heels of record-breaking first-quarter sales numbers for the automaker, which saw it produce and deliver more vehicles than ever before. Furthermore, Tesla is currently leading the pack when it comes to EV sales globally, outpacing any other automaker in the marketplace. Tesla currently offers four passenger vehicles—Model 3 sedan, Model Y SUV, Model S premium sedan, and Model X premium SUV—and the highly anticipated Cybertruck is scheduled to enter production this summer.
KBB created the Best Overall EV Brand category to reflect the changing marketplace as automakers vie to compete with Tesla. However, Tesla's continuous recognition as the leader in luxury branding and EV production bestows a level of credibility that raises its profile above any emerging competitors. As competition in the EV industry continues to increase, Tesla's rise to the top of the KBB Brand Image Awards leaderboard provides welcome recognition not only for the automaker but also for the entire EV market. Tesla's success and the recognition it has received serve as convincing evidence that the EV industry is more than just a fleeting trend.