http://www.greencarreports.com/news/1099349_who-buys-used-teslas-younger-more-middle-class-buyers-analysis-says Who Buys Used Teslas? Younger, More Middle-Class Buyers, Analysis Says By John Voelcker Jul 30, 2015
[image http://images.thecarconnection.com/med/analysis-of-sales-of-used-tesla-model-s-electric-cars-edmunds-july-2015_100520971_m.jpg (table) Analysis of sales of used Tesla Model S electric cars, Edmunds, July 2015 ] [image] 2015 Tesla Model S P85D - 'Chiseled by man and nature' / George Parrott It's now pretty clear that used electric cars in the mass market depreciate more rapidly than their gasoline counterparts, even after netting out the effect of financial incentives. Early data shows the 200-mile-plus Tesla Model S, on the other hand, holds its value as a used car much better. But who are the people who are actually buying those used Model Ses? Edmunds has studied the sales of used Teslas by looking at registration data for the more than pre-owned 1,600 Model S cars resold thus far (out of total U.S. sales of 45,000 to 50,000 cars through June). "The used car market is giving Tesla the opportunity to expand its demographic and geographic reach," it concluded, by making the car available to a younger and more diverse set of buyers. [image] Tesla Model S at Volta Industries charging station "The used Model S data proves that with a more attainable price tag," said Edmunds.com Director of Industry Analysis Jessica Caldwell, "there is demand for the vehicle from a more diverse customer set." Used Tesla sales have dispersed the cars beyond their California-centric buyer base: While more than 40 percent of all new Model S sales occur in the Golden State, only 30 percent of the used Teslas stay in the state. States that over-index on used Tesla registrations include Washington, Florida, New Jersey, Texas, and Arizona. It's worth noting that two of those states--Arizona and Texas--forbid the direct online sale of new Tesla cars, meaning used sales may help the company expand its footprint there. As for the buyers themselves, they skew younger and can no longer all be dubbed "wealthy, trend-setting customers"--in the words of the analysis. More than one-third earned less than $100,000 a year, versus just 25 percent for new buyers. And while just 6 percent of new Model S buyers are Millennials (aged 18 to 34), that number rises to 10 percent for used Teslas. The used Tesla sales break the customary pattern of used luxury cars overall, in fact. "While it's not uncommon to see used luxury vehicles travel out of large flagship hubs," said Caldwell, "it is unusual to see it happen to this ... degree." And, Edmunds concludes, that bodes well for the prospects of Tesla's promised $35,000 Model 3 electric car, with a 200-mile range, which is currently slated to arrive sometime during 2017. [© greencarreports.com] http://www.usatoday.com/story/money/cars/2015/07/30/used-tesla-sales-increase-with-wider-audience/30843761/ Younger buyers opt for used Teslas Becca Smouse July 30, 2015 ... Now that Teslas are starting to hit the used-car market, they show the potential to attract more younger, less affluent buyers and could expand the audience for the luxury electric-car maker, according to a recent study by Edmunds.com. An analysis by car-buying site Edmunds.com looked at the registration data of all Tesla Model S vehicles sold in the U.S., It found more middle-class and young buyers are opting for used ones. The study showed that you don't have to be rich to be driving a Tesla, the breakthrough electric luxury car that usually starts new at about $70,000. The analysis shows 36% of all used Model S buyers earned less than $100,000 per year, while only 25% buyers who bought a new model fit in the same category. The Model S sedan, the only product that Tesla is currently delivering, hit the market in 2012 so it is relatively new in the used-car market. Tesla's only previous car was the two-seat electric Roadster. Edmunds analyst Jessica Caldwell says this shows the company is beginning to expand sales beyond entertainment moguls and Silicon Valley executives. "What we're seeing is that it's a lot more diverse than the new car population and the new car buyer," Caldwell says. About 10% of all pre-owned Model S buyers are to those ages 18 to 34. This is a stark increase compared to the 6% of all new Model S buyers in the same age range. "I think Millennials are interested in the technology, in the company, in Elon Musk," Caldwell says. "The Model S, for what is it is, it's really practical. I think that it's something that's inspirational for people." Tesla sales are also spreading past the West Coast, according to analysis. Several states, including Florida, Washington, Texas, and Arizona, saw significantly more used Model S vehicles sold, compared to sales for the same model sold new. "I think the fact that you are seeing Model S in a more diverse area is a promising sign," Caldwell says. "It's spreading across the nation." California remains the highest in Tesla sales, home to 45.2% of new Model S buyers and 30.5% of used vehicle buyers. [© usatoday.com] For EVLN posts use: http://evdl.org/evln/ http://www.timescolonist.com/opinion/letters/no-incentives-for-buying-used-electric-vehicle-1.2018529 'There should be incentives for buying used electric vehicles' http://www.bidnessetc.com/49201-tesla-motors-inc-partners-with-hang-lung-to-install-car-charging-points-at/ Tesla L2-HPMC/destination EVSE @9 hanglung.com shopping-malls.cn http://insideevs.com/turns-lots-tesla-chargers-china/ + EVLN: Tesla-X EV CAUGHT Hauling Freight on Highway101 Gilroy-CA {brucedp.150m.com} -- View this message in context: http://electric-vehicle-discussion-list.413529.n4.nabble.com/EVLN-Younger-Middle-Class-Buying-Used-70k-Tesla-S-tp4677070.html Sent from the Electric Vehicle Discussion List mailing list archive at Nabble.com. _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org For EV drag racing discussion, please use NEDRA (http://groups.yahoo.com/group/NEDRA)
