Half of Tesla owners go back to petrol cars afterwards, but that's an improvement!
⬤ A study revealed that half of Tesla car owners give up their electric cars and return to traditional cars.
⬤ This is an improvement, with 2020 values indicating that the percentage was much higher at 76% of owners.
⬤ If you move to another electric car, Tesla drivers tend to choose more prestigious and reputable companies.
A recent 2024 study by Edmunds revealed that the majority of Tesla car owners give up their electric cars in favor of fuel-powered ones, i.e. internal combustion engines. Only 32% chose to continue with the electricity option.
Specifically, 51% of previous Tesla owners went exclusively for fuel-powered cars, 10% switched to hybrids, and 6% opted for plug-in hybrids.
These trends are consistent with the results of another recent McKinsey & Company survey, which revealed that nearly half (46%) of electric vehicle owners in United States are likely to turn to cars powered by internal combustion engines the next time they decide to buy a car.
While this may seem worrisome for Tesla and the electric vehicle market in general, it actually represents a significant improvement over previous more extreme number. According to Edmunds, with astonishing figures, about 76% of Tesla owners have abandoned their electric cars in favor of internal combustion engine cars according to 2020 data, with only 9% switching to other electric models. Fortunately for Tesla, it appears from recent data and surveys that these numbers have steadily decreased since then.
In a traditional trend that has prevailed in the past period, Tesla owners have shown a clear tendency to leave the world of electric cars. However, current statistics indicate that there is an urgent need for significant improvements to make electric vehicle ownership more attractive to the wider public.
Another striking observation is that an increasing number of buyers are replacing their Tesla cars with electric ones from traditional automakers. This is a somewhat expected shift, given that Tesla has gone from being the leader in the world of electric vehicles to finding itself facing a plethora of competitors across different categories and levels.
On the other hand, hybrid and plug-in hybrids don't seem to have much acceptance and appeal to be alternatives to Tesla. While it has gained considerable popularity among new car buyers, it seems less attractive to those with previous experience with electric cars.
On the other hand, the percentage of Tesla owners moving towards plug-in hybrids far exceeds the overall demand for this category. This is likely because these former EV owners have already dealt with the challenges of car charging, so they seek an option that markets itself as the best of the worlds.