Connect with us

News

A look at who’s buying Tesla’s Model X: younger, richer, and outside of CA

Published

on

A recent study taking a look at vehicle registration data for Model X reveals that younger and more affluent customers are buying Tesla’s crossover SUV. Research conducted by Edmunds showed that the concentration of Model X buyers were, fittingly, from the Generation X crowd – a generation between the ages of 35-54 and nestled between Baby Boomers and Millennials. Not surprisingly, the Model X skewed more towards women who are presumably Moms with young children. By contrast, the Silicon Valley automaker’s first volume production sedan, the Model S, skewed towards older males who are generally early adopters to new technology.

The new study suggests that Tesla’s plan to broaden its reach to a more diverse audience is succeeding. Jessica Caldwell, Edmunds’ Executive Director of Business Analytics said in a press release, “If Tesla is going to succeed over the long term, it needs to break through to all shoppers and not just rich early adopters who tend to skew older and male,” The data is a positive indicator that Tesla’s more affordable mass market Model 3 will have an even wider consumer reach when it goes into production at the end of 2017. “The company certainly has a long way to go with affordability, but Model X has undeniably brought in more female buyers and Gen X’ers to the Tesla brand. That’s an encouraging sign as Tesla takes a make-or-break plunge into the mainstream market with the upcoming Model 3.”, says Caldwell.

Source: Polk via Edmunds

Looking at 5,523 Model X and 4,242 Model S registrations recorded during each model’s first nine months on market, Edmunds was able to see that 30% of Model X buyers were women, more than doubling the number of women registrants on the Model S at 14%. The West Coast still leads in terms of having the most Model X registrations accounting for 55% of total sales, however this is down from the 64% of Model S sales originating from California, Washington and Oregon. Wisconsin, which previously only accounted for .3% of Model S sales, showed the most noticeable increase of Tesla ownership with 2% of Model X sales originating from the Badger State.

The majority of Model X buyers are also wealthier than Model S buyers with 87% of owners reporting incomes greater than $100,000. By comparison, 78% of Model S buyers surpassed a six-figure income.

While the stats provide an interesting look at how the Model X demographic of buyers compares with Model S, Edmunds’ chart also provides valuable insight on how Tesla’s pricey electric crossover SUV compares to other vehicles within its class.

Advertisement

tesla-model-s-x-competitor-comparison

Source: Polk via Edmunds
Advertisement
Comments

News

Tesla adjusts Online Design Studio for easier trade-in process

Tesla has a great trade-in program that allows you to give the company your vehicle in exchange for cash, even if it’s not an EV. Their trades are mostly fair, but the company seems to undervalue its own vehicles, and there have been plenty of complaints over offers in the past.

Published

on

(Credit: Tesla Asia | X)

Tesla has adjusted its Online Design Studio to make for an easier trade-in process, reflecting the details of the exchange for a more accurate reflection of payment terms.

Tesla has a great trade-in program that allows you to give the company your vehicle in exchange for cash, even if it’s not an EV. Their trades are mostly fair, but the company seems to undervalue its own vehicles, and there have been plenty of complaints over offers in the past.

Trade-ins are usually given by submitting vehicle details, then Tesla sends an email with an offer. Offers are non-negotiable, but do adjust over time, although the latest offer is valid for 30 days.

I traded my ICE vehicle for a Tesla Model Y: here’s how it went

Knowing your new Tesla’s cash price, leasing or loan details, and monthly payment information used to be done by the car buyer. From personal experience, I simply subtracted my trade-in from the cash price of the Tesla Model Y, and I plugged those numbers into the payment calculator.

Advertisement

Now, Tesla is implementing the trade-in process directly into the Design Studio. It will adjust the price of the car and the different monthly payment methods automatically:

The change is already noticed in a handful of states, including California, but it has not rolled out across the board quite yet. It will be implemented in all of the U.S., as well as Canada, this coming week.

Advertisement

The trade-in process is very simple, and after you accept your offer, you simply drop your vehicle off during the delivery process. Making this simple change will be greatly appreciated by owners.

Continue Reading

News

Tesla confirms Robotaxi is heading to five new cities in the U.S.

After launching in Austin, Texas, in late June and the Bay Area of California just a few weeks later, Tesla has been attempting to expand its Robotaxi suite to new states and cities in the U.S., and even outside of the country.

Published

on

Credit: Tesla

Tesla Robotaxi will hit five new cities in the United States in the coming months, the company confirmed.

After launching in Austin, Texas, in late June and the Bay Area of California just a few weeks later, Tesla has been attempting to expand its Robotaxi suite to new states and cities in the U.S., and even outside of the country.

The Robotaxi suite is a ride-hailing service Tesla offers, but the details of it change with each jurisdiction, as regulations vary. For example, in Austin, Tesla can operate the Robotaxi suite without anyone in the driver’s seat, as long as the vehicle does not enter a freeway.

Credit: Tesla

In the Bay Area, a Safety Monitor rides in the driver’s seat, essentially acting as the vehicle operator with Full Self-Driving controlling the car.

The local regulations and how Tesla handles them will continue to be a relevant part of the discussion, especially as the company aims to expand the Robotaxi program to different areas. This has been a primary focus of the company for several months, especially within the United States.

CEO Elon Musk said that Tesla was aiming to launch Robotaxi in Nevada, Arizona, and Florida. However, the company detailed five specific cities where it will launch Robotaxi next during the Annual Shareholder Meeting on Thursday.

Advertisement

Tesla will launch Robotaxi in Las Vegas, Phoenix, Dallas, Houston, and Miami next, broadening its Service Area for the suite to more major cities across the U.S.

It has said it plans to offer the service to half of the U.S. population by the end of the year, but it does not seem as if it will expand to more than a handful of cities this year, which is still tremendous progress, all things considered.

As far as autonomy is concerned, Tesla has always had lofty expectations and has made some even loftier statements.

At the Shareholder Meeting, Musk said that the company would likely be able to enable vehicle owners to text while the vehicle drives, alleviating them from potentially having some of the responsibility they have behind the wheel.

Tesla says texting and driving capability is coming ‘in a month or two’

Advertisement

It is not confirmed that Tesla will roll this out in the next few months, but Musk said there is a possibility.

Continue Reading

News

Tesla launches another new Model Y trim at a bargain price with massive range

It is the second most-affordable Model Y trim level in China, trailing the base Rear-Wheel-Drive and coming in under the All-Wheel-Drive.

Published

on

Credit: Tesla

Tesla has launched yet another new Model Y trim level, but this time it is in China, and it is at a bargain price.

It also has an insane range rating.

On Friday, Tesla launched the new Model Y Long Range Rear-Wheel-Drive in China, priced at 288,500 yuan ($40,500), an incredible deal considering it is not a stripped-down version of the vehicle like the Model Y Standard.

It is the second most-affordable Model Y trim level in China, trailing the base Rear-Wheel-Drive and coming in under the All-Wheel-Drive.

The big appeal with this new Model Y trim is obviously its price, but its range rating is also one of the best we’ve seen. Rated at 821 kilometers on the CLTC scale, it converts to 510 miles. It uses a 78.4 kWh CATL battery.

Converted to real-world range, however, that 821-kilometer range rated by the CLTC actually is equivalent to about 357 miles on the EPA scale, which is still a very respectable number and comes in at a higher range than the Long Range All-Wheel-Drive configuration that is available in the U.S.

Advertisement

Tesla has truly brought a wide variety of Model Y trims to the Chinese market, including a new Model Y L configuration that features a slightly longer wheelbase, as well as additional interior features like extended thigh legrests and captain’s chairs with armrests.

It is unclear whether Tesla will bring a Premium Rear-Wheel-Drive option of the Model Y to the U.S., especially as it has already rolled out four configurations of the all-electric crossover in the market. With the new Standard offerings, Tesla will likely keep its lineup as simple as possible.

However, the company has hinted that there is a slim possibility the Model Y L could come to the U.S. sometime late next year, but CEO Elon Musk said that it is not a guarantee.

Tesla is more concerned with self-driving efforts in the U.S., and despite calls from customers for larger vehicles, it does not seem concerned with making them available, at least not for now.

Advertisement
Continue Reading

Trending