A new report from Edmunds notes that more than half of Tesla models traded in over the past year were traded for an ICE vehicle. The report also notes that only 32% of Tesla trade-ins are used for another another electric vehicle.
This number has continually dropped in recent years and can be attributed to a variety of reasons as consumers begin buying more legacy EV models. This also comes as legacy automakers are buying into the NACS charging system, allowing non-Tesla vehicles to use Tesla’s vast supercharger network.
At the same time, plug in hybrid trade-in rates are also up. This shows that many owners may have already purchased in-home chargers, but are ready to move on from Tesla.
Read the full report from Edmunds here.
