Half Of Tesla Owners Trade In For Gas Cars, But It's Getting Better

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According to Edmunds, 51% of Tesla owners who trade in their vehicles for another one choose a gas-powered car as a replacement. That is a huge improvement from the 71% figure in 2019. This improvement for Tesla has steadily moved in its favor over the last five years.

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Edmunds experts commented, “Basically, if you were trading in your Tesla in 2019, you were doing it to get the heck out of an EV and back into a car that only needed gas.” Part of The Edmunds analysis shows that among the reasons for the improvement is the huge increase in the number of locations of the Supercharger network. The growth of this network has also helped sales of EVs in the US in general. Some new chargers have an 85% battery limit.

Tesla Model Line-Up

Now that more people are trading in Teslas for EVs, Tesla’s challenge will be to expand its model lineup and refresh current models. One threat Tesla faces is that legacy car companies have begun to flood the market with their own EVs. Although no single manufacturer has significant EV sales, they have gained EV market share as a group.

The EV market continues to have several hurdles that keep buyers out and favor gas-powered vehicles. Car range remains an issue, as does the number of charging stations. Prices remain an issue, although Tesla says it will release a $25,000 model within slightly more than a year. Cheap EVs may be the most important new development in the industry.