Over half of Tesla's traded In for Gas Cars in the United States

Over half of Tesla's traded In for Gas Cars in the United States

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[RoseSmith-vg]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[MarksElectricLife]

That statistic is meaningless unless you know the proportion of total population traded. If 5% of Tesla owners trade with a dealer and 50% choose ICE then 2.5% of Tesla owners are reverting to ICE. Not that high really? Bear in mind you would not be at a dealership if you were swapping to another Tesla (as most do). My guess is those people had financial difficulties and needed to lower their repayments by swapping to a cheap ICE car. 🤔

[flipadavis]

Everyone is absolutely misunderstanding what Edmunds is saying. Read what they are saying here carefully:
"More than half of Teslas traded in at dealerships so far in 2024 were traded in for a gas vehicle." Note that Tesla doesn't have dealerships or gas cars to trade.

So here is what that means. A survey done by Bloomberg in the US recently: "Tesla still maintains an 87% brand retention rate, outperforming two non-electric automakers at 67% with Lexus and 54% at Toyota. 81% of prospective Tesla buyers are new customers switching from competing EV brands compared to 42% of Nissan’s prospective buyers."

Not a small detail that people are misunderstanding here. Teslas traded in at legacy dealerships are a small percentage of overall Teslas being traded in. So the 13% of non-loyal Tesla customers traded in at legacy dealerships and are trading in for legacy dealership gas cars with the other half being traded in for legacy dealership EVs. This is a smaller subset of used Teslas being traded in. The other 87% is being traded in for new Teslas. So if Tesla has a 87% loyalty rate for returning customers that means that the other 13% are being traded in at legacy dealerships half of which are traded in for legacy EVs. That means only around 7.5% of used Teslas are traded in for ICEs.

So Edmunds needs to correct this and change their headline to: Out of the 13% of Teslas that aren't traded back into Tesla for a new Tesla, 50% of those are traded in for a gas car. But that wouldn't create as much hysteria and get as many clicks.

[ahpong]

I live in Thailand. I have never heard an EV owner, regardless of it being Tesla, BYD, GAC, MG, ChangAn, going back to ICE. Our next car will be EV.

[Whole_Leash_It]

An idiot online posted that today’s ICE cars burn so clean it negates the benefits of EVs. So I challenged him to the garage test. I told him to run his clean ICE with the door closed. I would do the same in my EV. Well, he died. No, he just ignored me from then on.

[mr.foxwiz]

I am keeping my Tesla Model Y and I live in California. Have solar on the house so charging is very cheap. Love the car.

[JaceTran]

My brother who is anti-EV just told me yesterday after test drove my 2024 Tesla model 3 "who is gonna buy an ICE anymore?"

[richardhardin]

We live in Southwest Ohio where we so so many Teslas and other EVs that it is impossible for us to believe all these people will go back to an ICE vehicle. When I speak with EV owners, they all say the same thing, they will never go back to an ICE vehicle. Currently, we own a 2023 Tesla Model 3 and it has been an ultimate dream to own.

[cascadiadesign]

I could never go back to an ICE car after owning a Model 3 for 6 years. It would be interesting to know about these folks trading their Tesla for ICE. Apartment dwellers? Like cars that go "vroom vroom"? Married an auto mechanic? Turned off by Elon's politics?

[jonathanfieldsever]

Edmund’s data is probably deeply biased. I imagine they’re only looking at dealership data, which would skew the data towards ICE. Legacy makers don’t offer many good EVs, so if a Tesla is being traded at a dealership, it would make sense that it’s traded for something on the lot.

[michaelfink]

I think it's likely that there is a flaw in the study. If you were intending to replace your Tesla with an other Tesla, you could sell the old one on the private market or trade in the car with Tesla, which does not have dealerships. So these cases would not be included in the study.

[tedbischak]

There's no way I would go back to an ICE vehicle after owning a model S, then a model 3 and my current model Y performance. EVs are the best personal transportation ever created, full stop.

[Reelbassin]

Ya right edmunds! Horse crap. Would never drive a non Tesla for my daily again.

[francischanc]

After driving a Tesla you never want a gas car

[davisboating]

Love driving my Tesla. Love the supercharger network on trips. The space to pack things in my model Y is very helpful too.

[thestresstheoryofhansselye]

No way would I trade my Model 3 for a gas buggy. Once you go electric, you never go back.

[allangraham]

Tesla has the highest loyalty rate amongst car brands. Some say as high as 87%. A lot of people buying a new Tesla trade their old Tesla in through Tesla

[Outrigger]

At least 90% of Teslas ever bought are still on the road, and overwhelmingly are still on their first owner, so this number is skewed. A tiny percentage have been traded in. I believe the ones who have already traded their Tesla in are the ones who've had the most problems and are most likely to not buy another EV. A Bloomberg study of Tesla owners said that 87% of Tesla owners would buy a Tesla again.

[geirvinje]

This is the same trends as in Norway.
The trends are like this:
1. EV's are bought as a decond car.
2. The charging infrastructure matures.
3. EV's are bought as the first/only car.
4. The gas stations are changing, to energy stations.
5. Trucking are going electric.

.... and so on.

In this transition you can read many things.

In Norway the fuel sales for car are down 50% in 3 years. 1 of 2 refineries are closed.

[lairdpopkin]

This data is from car dealers reporting trade-ins. And car dealers don’t generally sell Teslas, or Rivians, because those are sold direct. That is why this report is so divergent from every other report, that says that EV owners’ next car is an EV over 90%.