Tesla Model 3 drivers traded in Honda Civics and Toyota Tacomas most frequently to get their electric vehicle, a new study shows.
A lot of people have made the transition from a combustion engine vehicle to an EV over the past several years as electric powertrains have flexed their advantages.
While EV companies have frequently shown that lack of maintenance and gas savings are the two biggest cost advantages to switching, we have not seen much data over the past several years that includes which cars are most frequently traded in for certain electric models.
However, a new study from CarMax shows that information, particularly pertaining to the Model 3.
The report states that the Honda Civic and Toyota Tacoma pickup were the two most frequently traded-in vehicles that owners gave up for a Model 3:
“Drilling down deeper into the specific makes and models used car shoppers are trading in for an EV also uncovers buying trends. For the Tesla Model 3, our most popular EV at CarMax from September 2022 – February 2023, the most common trade-in was a Honda Civic and the second most common was a Toyota Tacoma.”
Additionally, Tesla shoppers who upgraded to either the more premium sedan, the Model S, or the Model 3’s sibling vehicle, the Model Y, which is a crossover, were most frequently Model 3 owners.
Nissan Leaf buyers were most commonly coming from a Toyota Prius, the study found.
Additionally, all four Tesla models landed in CarMax’s Top 10 most popular electric vehicles. The Model 3 and Model Y topped the list, while the Model X and Model S finished in 7th and 8th place, respectively. The Nissan Leaf was 3rd, the Mustang Mach-E from Ford took 4th, and the Chevrolet Bolt was 5th.
Toyota drivers were the most frequent visitors to CarMax centers in terms of trading their cars in for an EV. BMW, Ford, Honda, and Chevrolet followed.
Tesla drivers made up 5 percent of the brands that were traded in for another EV. The study does not explicitly state how many of these drivers ended up buying another Tesla.
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