Almost all of the buyers previously were driving conventional gas cars.
Tesla noted in its Q1 2021 report that 98% of Tesla trade-ins are internal combustion cars (ICE) cars, including hybrids we assume.
That’s not surprising, as 97% of overall global sales of new cars today are non-plug-ins, and in the past it was close to 100%.
Only a small part of Tesla customers (2%) previously were driving EVs from other manufacturers.
An interesting thing is the brand rank, which reveals that most customers were driving non-premium brands (Toyota, Honda and Ford are the top three). Premium brands appear to represent more than a third of trade-ins and the top three brands are BMW, Lexus and Audi.
“ICE vehicles comprised 97% of cars sold globally in 2020 and 98% of Tesla trade-ins.1 As more OEMs join our mission by launching EVs, we believe consumer confidence in EVs continues to increase and more customers are willing to make the...
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