Used Tesla Model S buyers show expansion of Tesla’s market

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Edmunds has conducted a little study of Tesla’s certified pre-owned (CPO) program and has come up with some interesting findings.

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CleanTechnica

Edmunds has conducted a little study of Tesla’s certified pre-owned (CPO) program and has come up with some interesting findings.

Edmunds looked at registration data for 1,600+ Tesla already bought through the program. The general story is that these are different buyers than buyers of new Teslas. (Who would’ve guessed?) The buyers are younger, less wealthy, and the percentage based in California is not as high.

Used-Tesla-buyers

Of course, the fact that the percentage of new owners based in California is lower means that people are buying used Teslas from California sellers and taking them to other states. 40% of CPO Tesla sales are in California, while only 30% of the sold Tesla live in California after the transfer of ownership. Over-representative states for the used Teslas include my home state of Florida, Washington, Texas, New Jersey, Arizona, and Nevada.

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“While it’s not uncommon to see used luxury vehicles travel out of large flagship hubs,” Edmunds.com Director of Industry Analysis Jessica Caldwell noted, “it is unusual to see it happen to this high of a degree.” Because this is the best freakin’ car in the world and comes at a reasonable price!

Used-Tesla-Income

Speaking of money, over ⅓ of the used Tesla buyers earned under $100,000 a year, compared to ~25% for buyers of new Teslas. Still, we’re not in the median income zone yet. Model 3, people are still waiting for you!

Lastly, the buyers are still heavily represented by males, something which the Model X is supposed to help with.

gender-Tesla

Source: CleanTechnica. Reproduced with permission.

 

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