What do we know about Tesla owners?

June 1, 2019 by Carolyn Fortuna

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At a time when Tesla's stocks fluctuate in the markets, it makes sense to step back and remember the dedicated audience for these all-electric revolutionary vehicles. Who buys a Tesla? What are the demographics, lifestyles and habits of the Tesla audience?

Tesla focuses on the production of electric vehicles and is also interested in design and energy. Tesla has become the world's best-selling electric car manufacturer. The company currently produces all of its cars at its Fremont, California plant. As of December 31, 2018, more than 532,000 vehicles had been sold worldwide.

Tesla products were originally intended for high-end customers, but with the release of Model 3, the company is now targeting larger customer segments.

Credit ratings of Tesla owners are soaring

A recent LendingTree study found that Tesla owners probably have the highest average credit scores among customers looking to buy a vehicle. The study revealed that Tesla buyers had an average credit score of 740, which placed them above the research rankings.

The LendingTree study badyzed more than 35,000 auto loans contracted on its platform to rank car brands based on their average credit score. Porsche is right behind Tesla, whose average credit score was 727. Lexus luxury car manufacturers ranked third in Japan, with average vehicle sales of 699.

Chrysler buyers had the lowest scores, averaging 656.

People buying a luxury car would obviously need higher credit scores, as luxury car manufacturers offer some of the more expensive pbadenger cars. When LendingTree looked at the most used borrowers by the brands, buyers spent an average of $ 54,234 for the purchase of a used Tesla and $ 42,173 for the purchase of a used Porsche. , with average monthly payments of $ 818 and $ 635, respectively.

To determine these percentages, LendingTree credit scores were averaged over car brands reported on application forms submitted by anonymous individuals who had been approved for auto loans for the purchase of vehicles from time to time. on the LendingTree platform in 2018. Auto purchases without enough purchases to create reliable estimates were excluded from the badysis.

Demographics of a Tesla Owner

The Hedges Company has also published fascinating statistics about Tesla's owners.

• The average family income of a Tesla Model X owner is $ 143,177 per year. A household owner Tesla Model 3 earns $ 128,140 a year.
• Compared with a median age of 38 for the US population, the median age of a Model X owner is 52 years and the model owner is 54 years old. The median age of a Tesla Model 3 owner is 46 years old. . Tesla has taken advantage of a demographic group eager to break out of its normal price range in order to get Model 3, it seems.
• Model X has a higher percentage of female owners. Women own 29% of Model X vehicles and 71% of men. The Tesla Model S, a 4-door sedan, has more male owners than the Model X. Men own 77% of S-model vehicles and women 23%. Women only have 16% of the model 3, men 84%.
• 88% of current owners of Tesla Model S and X own their homes. This gives Tesla owners for these 2 models 21 to 24 percentage points more than the rest of the population. Yet only 56% of current owners of Tesla Model 3 own their homes, which means that Tesla's property is almost more important for this segment than home ownership. The car as identity, do you like it? Owning a Tesla Model 3 means having access to a complex network of several interconnected systems that communicate constantly with each other, as well as with various external parties.

Tesla's resale value of opportunity inspires confidence

iSeeCars has badyzed sales of used cars from the Model S and 9 other comparable luxury cars. It was found that the Tesla Model S was the most sold among its competitors, with an average selling time of 35.5 days, 24.2% faster than the average of this set of cars at 46.9 days and 15.8% faster than the overall average. for all used cars at 42.2 days. Phong Ly, CEO of iSeeCars, gives an overview of second-hand Tesla Model S sales.

"The fast average selling time of the Tesla Model S in the used car market shows that its used models are in high demand, which is probably the result of competitive prices and low supply. Almost 20% of the Model S cars used benefit from a reduction of at least 10% on the market value, which is almost one and a half times more than the average of comparable models. Although Teslas' offer of opportunity is still relatively small, it has steadily grown as more and more vehicles are rented, which could make dealers more vulnerable. competitive in their prices. These significant transactions probably contribute to their fast selling time. "

iSeeCars – Tesla Model S is the best-selling used car in its clbad

Rank	Model	Average number of days on the market	Average price
1	Tesla Model S	35.5	$ 68,159
2	Audi A7	39.7	$ 47,710
3	Audi A8	39.8	$ 52,687
4	Mercedes-Benz S Clbad	41.6	$ 89,434
5	BMW 6 Series	48.5	$ 57,797
6	BMW 7 Series	48.7	$ 66,696
7	Jaguar XJ	49.8	$ 52,644
8	Genesis G90	56.7	$ 56,591
9	Porsche Panamera	60.1	$ 88,876
ten	Maserati Quattroporte	69.8	$ 79,620
–	Overall average	46.9	$ 72,030

Last thoughts

In addition to their reliable resale value, people want to buy Teslas for many reasons. The various impacts of a high-end, all-electric, high-end Tesla vehicle are clearly the driving force behind Tesla's purchase decisions by many people.

Faced with the need to move away from fossil fuels for environmental, economic and geopolitical reasons, Tesla's owners vote for a company that is taking real action on climate change rather than launching a series of promises on climate change. From other manufacturers in terms of research and development and the future. all-electric models in their catalogs.

Tesla also said it is striving to reduce its greenhouse gas emissions while investing in employees and the communities in which it operates.

Its vehicles can travel further with a single charge than any other standard electric vehicle on the market.

Perhaps these are the security components built into each Tesla, what the company describes is the result of a 'huge amount of real-world data gathered from eight cameras, 12 ultrasonic sensors and radars of our cars, coupled with billions of kilometers of data from real drivers, "which helps the company better understand trends to watch in the moments leading up to an accident.

Driving something other than an electric vehicle at this crucial time is careless. Driving a Tesla is an elite experience that distinguishes one from the other, all-electric comrades. And sometimes driving a Tesla is a love of its kind – check out the testimony of a longtime Tesla owner to see for yourself.

Keywords: Electric Vehicle Sales, iSeeCars, LendingTree, Tesla, Tesla Model S, Tesla Model S Resale Value, Tesla Model X