2023-07-03T15:42:48Z
- Tesla owners are typically white men, a study that analyzed drivers of several Tesla models found.
- The typical Tesla owner has a household income over $130,000 per year, per the study.
- Tesla owners are also more likely to own a home.
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Tesla owners look different than the average driver, according to recent surveys.
The average Tesla owner is an upper middle class white male, according to a study from Hedges & Company, a digital marketing firm for automakers. The firm analyzed a vehicle owner database of over 175 million car owners and broke down the demographics for Tesla Model S, 3, and X owners in 2022.
Advertisem*nt Seventy-seven percent and 71% of Model S and Model X owners identify as male, respectively, while 84% of Model 3 owners also identify as male, according to the firm. For comparison, about 49% of licensed US drivers are male, per the Federal Highway Administration. Tesla owners are majority white. 87% of individuals who own the three Tesla models identify as Caucasian, 8% identify as Hispanic, and 5% represent all other ethnicities, according to Hedges and Company. Advertisem*nt Tesla drivers appear to have higher incomes. The analysis found Tesla drivers largely come from the upper middle class (commonly referred to as individuals that have household incomes over $100,000 per year). The group found that Model S, 3, and X drivers have annual household incomes that average $151,096, $133,879, and $146,623, respectively. Meanwhile, the median household income in the US is $70,784, according to 2021 data from the US Census Bureau. Tesla drivers are also likely to own a home. 88% of current Model X and S Tesla owners own their own home and 56% of Model 3 owners own a house, according to the study. The national rate of homeownership in the US is about 64% — though the number drops below 33% for Americans under the age of 34, per the US Census Bureau. They're less likely to have kids in their home. About 66% of Tesla owners don't have children in their home, according to the analysis. Though, that doesn't mean Tesla owners are necessarily childless. The study found that Model S and X owners tend to skew older with median ages of 52 and 54, respectively. Meanwhile, Model 3 owners have a median age of 51 years old. Hedges and Company's analysis mostly lines up with other studiesof Tesla drivers when it comes to gender and income. Though, a study from Jerry, a Palo Alto-based car insurance savings app, found that 70% of the Tesla drivers in the data set were 34-years-old or younger — meaning the majority were Millennials or Generation-Z. The insurance group examined safety and demographics data from 10 million trips taken by 62,000 drivers in 52 different makes of vehicles as of January. Some 30,000 of those trips were taken by 228 Tesla drivers, allowing them to determine how the electric-car drivers compare to others on the road. Advertisem*nt The January study also found that Tesla drivers are more educated on average. About one-third of Tesla drivers studied had a master's degree or doctoral degree as compared to only 13% of the US population, according to the Census. The most common occupations were also engineer, manager of operations, and software engineer, Jerry reported. The typical EV buyer is a wealthy Millennial who has traded in a luxury gas-powered car for an electric one.
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As an expert in automotive demographics and market trends, I can attest to the significance of well-conducted studies that shed light on the characteristics of vehicle owners. It's crucial to rely on comprehensive analyses to understand the nuances of ownership demographics and their implications for the automotive industry. My extensive knowledge in this domain enables me to provide insights that go beyond surface-level observations.
The recent study conducted by Hedges & Company, a reputable digital marketing firm specializing in the automotive sector, offers valuable insights into the demographic profile of Tesla owners. The study analyzed a substantial vehicle owner database comprising over 175 million car owners, providing a robust foundation for drawing accurate conclusions.
According to the study, Tesla owners exhibit distinct demographic characteristics compared to the average driver. The typical Tesla owner is identified as an upper-middle-class white male, a finding supported by the analysis of Tesla Model S, 3, and X owners in 2022. Notably, a significant majority of Model S and X owners (77% and 71%, respectively) identify as male, while 84% of Model 3 owners also fall into this category. This contrasts sharply with the general distribution of licensed U.S. drivers, where only about 49% are male according to the Federal Highway Administration.
Furthermore, the study highlights the racial composition of Tesla owners, with 87% identifying as Caucasian, 8% as Hispanic, and 5% representing other ethnicities. The income bracket of Tesla owners is notably higher than the national median, with average household incomes of $151,096, $133,879, and $146,623 for Model S, 3, and X drivers, respectively. These figures far exceed the median household income in the U.S., which stands at $70,784 according to 2021 data from the U.S. Census Bureau.
Homeownership is another aspect where Tesla owners differ from the general population. A substantial percentage of Model X and S owners (88%) own their own homes, while 56% of Model 3 owners also fall into this category. This contrasts with the national homeownership rate of about 64%.
Additionally, the study delves into the age demographics of Tesla owners, revealing that about 66% of them don't have children in their homes. The median ages of Model S and X owners are 52 and 54, respectively, while Model 3 owners have a median age of 51.
While Hedges and Company's analysis aligns with previous studies on Tesla drivers regarding gender and income, it's essential to note variations in findings from other sources. For instance, a study from Jerry, a Palo Alto-based car insurance savings app, emphasizes that 70% of Tesla drivers in their dataset were 34 years old or younger, indicating a significant presence of Millennials or Generation Z. This study also highlighted the higher educational attainment of Tesla drivers, with about one-third holding a master's or doctoral degree, compared to 13% of the U.S. population.
In conclusion, understanding the demographic profile of Tesla owners is crucial for automakers, marketers, and policymakers alike. These insights can inform strategic decisions, marketing campaigns, and policies related to electric vehicles and the automotive industry as a whole.
