Half of US Tesla Owners Switch from EVs to Fuel-Powered Cars in 2024

TapTechNews August 5th news, according to the latest research of Edmunds, in 2024, more than half of the American Tesla owners gave up electric vehicles and switched to fuel-powered cars, and only 32% of the owners continued to choose pure electric models.

Specifically, 51% of Tesla owners turned to traditional fuel-powered cars, 10% chose hybrid models, and 6% chose plug-in hybrid models. This trend is in line with the recent survey result of McKinsey & Company, which shows that nearly half (46%) of American electric vehicle owners may return to fuel-powered cars when buying a car next time.

Although this data seems like bad news at first glance for Tesla and the entire electric vehicle market, but actually the latest data has a significant improvement compared to the past data. According to Edmunds' data, in 2020, as high as 76% of Tesla owners gave up electric vehicles and switched to fuel-powered cars, and only 9% chose other electric models, and this ratio has been steadily declining since then.

This change in trend may mean that over time, it becomes increasingly easy to use electric vehicles in the United States. However, the current statistics show that significant improvements still need to be made to make electric vehicles more attractive to a wider public.

TapTechNews noticed that another interesting phenomenon is that more and more buyers are replacing Tesla with electric vehicles from other traditional automakers. Considering Tesla's transformation from an electric vehicle pioneer to now facing many mainstream market competitors, this trend is somewhat foreseeable.