As the world moves away from fossil fuels towards renewable energy, electric vehicles (“EVs”) have become increasingly popular. Instead of the internal combustion engines that gas-powered cars rely on, electric vehicles are powered by a rechargeable lithium-ion battery and produce zero emissions at the tailpipe. Of the limited EV models available on the nascent electric vehicle market, Tesla (NASDAQ: TSLA) vehicles are some of the most popular.
Ever since Tesla released the Roadster back in 2008, the pioneering EV firm has been at the top of the EV game. And while the sector has seen increased competition with legacy automakers and several startups offering a wide variety of more affordable EV models, Tesla still remains one of the most popular and lucrative EV brands on the globe. But why are so many drivers buying Tesla vehicles?
According to a poll conducted by Escalent, a behavior and analytics company, fans are drawn to Tesla simply because they like the cars. In fact, many drivers on the market who are planning on buying an electric vehicle list Musk as a negative when considering the California-based EV maker, says VP Mike Dovorany. Escalent came to these conclusions after surveying a subset of drivers from its database of more than 10,000 new vehicle buyers aged 18 to 80 years.
The sample of 1,003 drivers included 100 Tesla owners, 100 owners of other EV models and 803 drivers who did not own electric vehicles. The survey showed that both EV owners and individuals looking to buy an EV within the next five years were drawn to Tesla due to its performance and acceleration, high-quality build, their styling and their novelty status. Tesla’s innovations in battery technology and EV range also make the brand’s electric vehicles attractive to potential buyers.
Views on Tesla leader Elon Musk were more divided, especially among Tesla owners. Although they were not fans of the views he expressed on Twitter, they felt the contributions he has made to Tesla and the EV industry as a whole outweighed the negatives. Compared to just 26% of Tesla owners who felt Musk did more harm than good to the brand, most non-EV owners found him to be outspoken and obnoxious despite his genius.
Additionally, drivers were attracted to Tesla as it allows online handling of the facets of purchase and ownerships, keeping them from dealing with car dealerships. More than 90% of Tesla owners said this one-stop shopping experience is one of the main reasons they would buy another Tesla.
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