Source: https://www.spglobal.com/mobility/en/research-analysis/new-ev-entries-nibbling-away-at-tesla-ev-share.html Regardless of brand or price point, early S&P Global Mobility data suggests consumers moving to electric vehicles in 2022 are largely doing so from Toyota and Honda - brands which have been unable to keep their internal combustion owners loyal until their own brands begin to participate more significantly in the EV transition. While both Japanese companies built a US legacy with phenomenal fuel economy and powertrain technologies - including electrification through hybrids, plug-in hybrids and fuel-cell electric vehicles - both have been caught flat-footed in the context of 2022. S&P Global Mobility conquest data for Tesla's Model 3 and Y, Ford Mustang Mach-E, Hyundai Ioniq5, and Chevrolet Bolt show strong captures of buyers from the two leading Japanese brands. . . . Bob Wilson
it makes sense, seeing that they had converted so many people to hybrids, high mpg etc. those drivers have a multitude of reasons to continue seeking new technology
That's a good point. In addition, Toyota has 14.78 % market share in the US. Is it valid to think that if Tesla was nibbling at other's market shares, it would be proportional to the market share of those companies? For instance, Ford has 5.3 % of the US car market, and the pie chart shows that Tesla lured 5.3% of their new buyers away from Ford.
USA is Tesla's #1 market and California is its #1 state (by far). Honda/Toyota have been top sellers in California for decades. Doesn't take a large leap in logic to see that those makes would be the top trade in's. Another observation: Honda/Toyota are pretty efficient fleets and the trade-in's to Tesla are fairly economical vehicles. I believe someone here likes to say that's "low hanging fruit". A more impressive and beneficial listing of trade-in's would be full of trucks and suv's but that's going to be a way tough nut to crack as Tesla and other BEV manufactures don't have realistic models to compete on all metrics (especially price vs range). Maybe in 10 years.
