As an early adopter, I've visited many discussion boards over the last couple years regarding "my next EV car or my first electric vehicle" topic and it usually ends with I'm waiting until 2017 to buy a Tesla Model 3. A new survey, released today, from Edmunds shows strong demand for the used Model S from non-luxury car buyers and describes a possible love-affair narrative for 18 to 34 years old -- Millennials.
From the Edmunds survey:
For example, Edmunds found that while only 25 percent of new Model S buyers earned less than $100,000 per year, that number rises to 36 percent of all used Model S buyers. Edmunds also found that used Model S buyers skew younger than new Model S buyers: about 10 percent of pre-owned Model S buyers are Millennials (age 18-34), compared to just six percent of all new Model S buyers.
Millennials, oh boy. That covedted 18 to 34 demographic that marketers have a real tough time advertising to due less television viewing these days, according to a recent marketing study. The data is limited and this Certified Pre-Owned program is approximately two months old, but this data is a big deal because the demand is organic with no traditional marketing by Tesla. Untraditional marketing, yes, see Elon Musk.
Edmunds researcher, Jessica Caldwell, says,"A wide-ranging buyer base is essential for a brand like Tesla that hopes to grow with mainstream shoppers. These findings offer encouragement for Tesla as it prepares to make its biggest move into the mass market with the upcoming Model 3."
Other takeaways EVP, Seeking Alpha & Edmunds:
>> California's share of used Model S sales, for example, is only 30.5 percent, compared to its overwhelming 42.5 percent share of all new Model S sales.
>> Used Tesla Owners skew to Males. The gender of Model S registrants is 81% male for new Model S sedans and then 82% for the used versions.
>> Location, location, location: Other states that enjoy a significantly larger share of used Teslas includeFlorida (11.2 percent of used Model S sales vs. 7.3 percent of new Model S sales), Texas (8.3 percent vs. 5.8 percent), New Jersey (5.5 percent vs. 3.3 percent) and Arizona (4.0 percent vs. 1.9 percent).
By the by, dealers may see the electric Model S in a more favorable light with this CPO program.
>> Find more posts on EVs and Tesla Motors by Grant Gerke @ Teslarati.com. Twitter: @autogrant