More than 14% of Americans planning to purchase a vehicle in the next 12 months are considering an EV, up from 10% in 2019, a new report finds.
YouGov’s new report Should Tesla try a little advertising? analyzes the 74 million Americans currently in-market for a vehicle, comparing those considering Tesla with those looking at other electric vehicles.
The report paints the picture of a rapidly evolving customer base for Tesla following the acquisition of Twitter (now X) by outspoken billionaire CEO Elon Musk. While EV consideration remains high following a COVID-era peak in 2020 and 2021, consideration of Tesla has shown signs of decline in the past year, falling from 10% in 2022 to 8% in 2023.
Among Americans considering purchasing a Tesla vehicle in the next 12 months:
- 58% consider themselves environmentalists (vs 62% in 2022)
- 28% make less than $30,000 per year (vs 21% in 2022)
- 28% identify politically as “Liberal” (down 35% from 2021)
- 72% agree with the statement “Advertising helps me choose what I buy” (vs 55% of non-Tesla EV considerers)
- 39% used TikTok last month (vs 25% of non-Tesla EV considerers)
- 41% listen to 6+ hours of podcasts weekly (vs 33% of non-Tesla EV considerers)
- 34% stream sports on Amazon Prime (vs 21% of non-Tesla EV considerers)
“Two strategies have emerged for Tesla’s first foray into advertising,” said Bernadette Maher, VP at YouGov America. "First, to win back the environmentally-focused liberal buyers that Tesla has lost in the past 18 months. And second, to grow the audience of technology and design-driven moderates and conservatives.”
The report finds that American car buyers considering Tesla are more likely than non-Tesla EV considerers to be motivated by performance (60% vs 51%) and features like autonomous driving (25% vs 15%).
YouGov’s Tesla Advertising Report 2023 explores how the Tesla brand has evolved over the past two years, what challenges it faces today, and how it might best target both consumers considering buying a Tesla, as well as those who have lost enthusiasm for the brand.
The report is available to download here.
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