New data reveals how many Tesla owners are considering switching back to gasoline

A new study reveals that most Tesla owners in the United States remain loyal to the brand, despite the American electric car giant reporting a nearly seven percent drop in global deliveries in the first half of 2024.

According to data from global automotive intelligence firm S&P Global Mobility, cited by YouTube channel EV Buyers Guide, about 70% of Tesla owners who buy a new car opt for another Tesla model.

RELATED: Tesla just launched its own insurance in Australia – but is it actually cheaper?

Data from S&P Global Mobility, which takes into account car registration data in each U.S. state from January 1, 2023 to February 19, 2024, revealed that of the 60,022 Teslas “disposed” of through trade-ins or sales, 42,244 (70.4%) were replaced with new Tesla models.

Meanwhile, 6,385 owners (10.6%) traded in their Tesla for another unspecified electric vehicle (EV) model, 8,103 (13.5%) returned to petrol and diesel cars, and 3,290 (5.4%) opted for hybrids (including plug-in and full hybrid models).

In April 2024 Bloomberg In a survey of American car owners that measured how likely a driver would choose their next car from the same brand, Tesla had the highest brand retention rate at 87%.

The electric car giant outperformed other traditional manufacturers like Ford (53%) and Chevrolet (36%), as well as Japanese auto giants like Toyota (54%), Honda (51%) and Nissan (49%). Bloomberg.

This latest Tesla-specific data deviates from similar surveys conducted around the world, which tend to reveal that a higher number of electric vehicle owners would consider switching back to gasoline or diesel.

According to a June 2024 McKinsey Mobility Consumer survey – which polled more than 30,000 people across countries including Australia – nearly half of Australian electric vehicle owners (49%) said they were “very likely” to switch back to traditional petrol and diesel vehicles.

According to McKinsey & Company data, the current poor state of public charging infrastructure in the countries surveyed was the most popular reason (35%) why electric vehicle drivers would consider switching back to gasoline models.

Global respondents also said the cost of owning an electric vehicle is currently “too high” (34%).

As previously stated by To drive, There are approximately 2,000 public charging sites available in Australia and approximately 180,000 electric vehicles on our roads, meaning there are approximately 90 electric vehicles for every public charging site (although some charging sites may have multiple plugs).

Although the high cost of owning electric vehicles is cited as a major reason for the shift back to petrol or diesel cars, electric vehicles are slightly cheaper to charge compared to their internal combustion engine (ICE) counterparts which rely on volatile petrol and diesel prices to operate.

According to the NRMA, the Tesla Model Y – the best-selling electric model in the first half of 2024 – will cost owners an average of $821 in charging fees per year.

It was followed by the second-best Tesla Model 3 with an annual charge equating to around $743, while the BYD Seal sedan – the third most popular EV in 2024 – cost owners around $1,035 per year.

For comparison, filling up a Ford Ranger or Toyota HiLux – Australia’s two best-selling cars – would cost drivers an average of $2,875 and $1,725 ​​each respectively, according to the NRMA.

While charging and maintenance costs may be lower for electric vehicles, other ownership costs like insurance coverage for battery-powered cars often don’t come cheap due to the higher cost of spare parts and lack of specialist repair knowledge.

Despite the various obstacles some electric vehicle owners currently face, some early adopters have no regrets about making the switch to battery-powered cars.

“The Tesla network exists and it’s so easy. That’s why I chose Tesla, there was no reliable charging network at the time (2018),” said Tesla Model S and Model Y owner Chris Sui from Queensland To drive.

“I’m really happy that I don’t have to do any maintenance on Teslas. The message only comes up if it’s necessary. So the only thing that can happen is I have to fill the windshield with water and maybe I have to pump up the tires,” he explained.

We’d like to hear from EV drivers in Australia. Would you switch back to petrol/diesel for your next car? Let us know in the comments below!

The article New data reveals how many Tesla owners are considering switching back to gasoline appeared first on Drive.