Tesla Model S
According to Edmunds, the used car market for Tesla provides an opportunity to expand its demographic and geographic reach.
Through the end of July, over 1,600 Model S were sold in the pre-owned market in the U.S.
Some 45% of all new Tesla Model S sales comes from California.
The next 9 states hold nearly 33%, while the remaining 40 states combined are below 22%.
Tesla sold over 50,000 Model S in US, and 75% of them went to those with earnings above $100,000 annually. Less expensive used cars increased the share of buyers with earnings below $100k from 25% to 36%.
Used Model S buyers are also younger - 10% between 18-34, compared to just 6% for new Model S.
We all know that California is the largest market for Tesla (basically true for almost all other EVs), but we didn't know how sales spread over the other states. Now we know that the best of the rest is Florida.
"Tesla's brand migration in the used market is also reflected on a geographic level. California's share of used Model S sales, for example, is only 30.5 percent, compared to its overwhelming 42.5 percent share of all new Model S sales. Meanwhile, used Model S sales are surging in the state of Washington, where its market share of used Models Ss (8.9 percent) is nearly double its share of new Model Ss (4.6 percent). In fact, Edmunds' research found that in 2015 there have been more used Model S registrations in Seattle than in Tesla's home market of San Francisco.
Other states that enjoy a significantly larger share of used Teslas include Florida (11.2 percent of used Model S sales vs. 7.3 percent of new Model S sales), Texas (8.3 percent vs. 5.8 percent), New Jersey (5.5 percent vs. 3.3 percent) and Arizona (4.0 percent vs. 1.9 percent)."
Used Tesla Model S sales in US (*Data for All Tesla Registrations Since Model S Debut
Source: Polk, Edmunds.com)