According to a recent Bloomberg Intelligence survey, Tesla holds a strong lead in model retention, boasting an impressive 87% rate, while luxury brands like Lexus lag behind with a 68% retention rate, followed by Toyota at 54%.
Moreover, a staggering 81 percent of prospective US Tesla buyers are newcomers to the brand, having abandoned rival electric vehicle (EV) manufacturers in search of a superior driving experience with Tesla.
A survey by Bloomberg Intelligence, comprising 1,000 adults, sought insights into the purchasing habits of individuals intending to acquire a brand-new vehicle over the next year. It utilized established protocols to mimic a nationwide model of geographic and demographic diversity.
By 2030, Bloomberg Intelligence forecasts that battery-electric vehicle (BEV) penetration in the US market will likely reach 25%. As electric vehicles (EVs) increasingly dominate the US market, their popularity shows no signs of slowing down, despite lingering concerns over charging infrastructure and affordability.
The survey found that 42 percent of respondents were considering purchasing a battery-electric vehicle (BEV) as their next car, while 23 percent were eyeing hybrid electric vehicles; this contrasts sharply with the current 7 percent market share for hybrid EVs. While 9% of those surveyed preferred battery-electric vehicles (BEVs), an increase from last year’s 7% BEV penetration, it remains to be seen whether this upward trend will continue.
According to Bloomberg Intelligence’s research, buyers of battery-electric vehicles (BEVs) who currently own one exhibit exceptional brand loyalty towards their electric cars. A recent report found that a staggering 93% of respondents intend to stick with their current powertrain when purchasing their next vehicle, contrasting starkly with the 34% of gasoline car owners considering a switch to electric vehicles.
As electric vehicles’ advantages continue to gain traction, gasoline-type stickiness suggests that a reversal in EV penetration is unlikely, with the benefits for current owners potentially eclipsing upfront costs. The consistent preference for electric vehicles remains a steady choice across hybrid, plug-in hybrid, and battery-electric vehicle owner demographics.
Steve Man, world lead director for auto & industrial market analysis at Bloomberg Intelligence and the lead creator of the report, stated: “Tesla, GM, and Stellantis’ slew of inexpensive EV fashions, set for debut by 2026, could faucet extra mass-market patrons. Regardless of this, the market nonetheless has an extended technique to go to mature, with charging community inadequacy, vary nervousness, and prolonged charging wait occasions topping the checklist of issues for all automotive patrons.”
