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Toyota has been slow to develop its own 100% electric car. He has reached the point where his Prius Hybrid owners are moving to the Tesla electric car company.
Jim Lenktz, President and CEO of Toyota North America, recently commented on the magnitude of Tesla's interest. According to the auto publication, about 9% of Toyota drivers are turning to other brands and half of these defectors are Prius owners who are traveling to Tesla.
The Prius is the closest thing that Toyota drivers have to an electric option. It appeared before the electric vehicle boom in 1997, but remains dependent on gas. Toyota's electric shift is pushing environmentally conscious drivers toward vehicles like Tesla's moderately priced sedan, the Model 3. (It starts at $ 46,000, while a new Prius is at the $ 23,000 increase.) Prius sales are down. In fact, CNBC announced a 23% drop in sales in 2018.
In August, Tesla CEO Elon Musk shared the best cars that customers are not Tesla, trading against a model 3: Toyota Prius, BMW 3 Series, Honda Accord, Honda Civic and Nissan Leaf. The Prius is a hybrid, while the Leaf is fully electric.
Musk gave no numbers at that time and we contacted Tesla to find out if they would share recovery data. Because he made List the Prius first …
In this same earnings report, Tesla said it outperformed the "premium midsize sedans" such as the BMW 3 Series, the Audi A4, the Lexus IS, the Jaguar XE, and so on.
Model 3 is certainly popular, especially in California and Norway. When CleanTechnica broke down, last year, in the Golden State, a car sale out of 22 was a Tesla.
Take that, Toyota.
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