Model X Expands Tesla's Reach to a More Diverse Set of Buyers, Says Edmunds.com
SANTA MONICA, CA — September 21, 2016 — The Model X is bringing some much-needed diversity to Tesla's customer base, according to a new analysis from Edmunds.com, the leading car information and shopping network. The analysis suggests that the utility EV attracts a younger, more female, more affluent and less West Coast-centric crowd than Tesla's Model S.
Edmunds' study looked at all 5,523 Model X registrations recorded by Polk during the model's first nine months on the market, and compared them to all 4,242 Model S registrations during the sedan's first nine months of sales. Among Edmunds' findings:
- Model X makes strides with women. In the first nine months of its life, only 14 percent of Model S buyers were women. The Model X, on the other hand, has more than doubled that figure, with women making up 30 percent of its buyers.
- Gen X meets Model X. Generation X, the forgotten generation sandwiched between Baby Boomers and Millennials, is the most important demographic for Tesla, but especially for Model X. Three out every five Model X owners are between the age of 35 and 54, compared to only about half of Model S buyers.
- Tesla infiltrates Middle America. The West Coast (California, Washington and Oregon), which had accounted for 64 percent of Model S sales, is proving less dominant for Model X; these states accounted for 55 percent of the X's sales. Wisconsin has shown the most notable increase of any state in the U.S. The Badger State, which made up a paltry 0.3 percent of Model S buyers in the sedan's first nine months, accounted for two percent of Model X sales.
- The rich get richer. Neither Model X nor Model S falls within the price range of the average car shopper, but Tesla's audience has only grown wealthier since the SUV's introduction. Model X is selling to a slightly more affluent audience, with 87 percent of buyers having reported income in excess of $100,000, compared to 78 percent of Model S buyers.
"If Tesla is going to succeed over the long term, it needs to break through to all shoppers and not just rich early adopters who tend to skew older and male," says Edmunds.com Executive Director of Industry Analysis Jessica Caldwell. "The company certainly has a long way to go with affordability, but Model X has undeniably brought in more female buyers and Gen X'ers to the Tesla brand. That's an encouraging sign as Tesla takes a make-or-break plunge into the mainstream market with the upcoming Model 3."
More details of Edmunds' market analysis of Tesla Model X buyers can be found at http://www.edmunds.com/industry-center/analysis/x-marks-a-different-spot.html.
Edmunds.com currently owns a Model X as part of its long-term test fleet. Learn about all the good and bad (and everything else in between) that the Model X has to offer on Edmunds' Long- Term Road Test Blog at http://www.edmunds.com/tesla/model-x/2016/long-term-road-test/.
About Edmunds.com
Car shopping destination Edmunds.com serves millions of visitors each month. With Edmunds Price Promise®, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at 10,000 dealer franchises across the U.S. Shoppers can browse not only dealer inventory, but also vehicle reviews, shopping tips, photos, videos and feature stories on both Edmunds' wired site and on its acclaimed mobile apps. Regarded as one of the best places to work in Southern California, Edmunds.com was also named one of "The World's Top 10 Most Innovative Companies of 2015 in Automotive" by Fast Company. Edmunds welcomes all car-shopping questions at our Help Center and help@edmunds.com and on Twitter and Facebook. The company is based in Santa Monica, Calif. and has a satellite office in downtown Detroit, Mich., but you can find Edmunds from anywhere on YouTube, Pinterest, LinkedIn, Instagram, Google+ and Flipboard.
