Tesla Owner Demographics: Age, Gender, Ethnicity, Income, Children

Tesla Owner Demographics

Who are the people going out and buying Teslas?

Based on market research performed by Hedges & Company in 2018, it turns out the average Tesla owner is a 54 year old white man making over $140,000 with no children.

"This data comes from the master vehicle owner database of 175+ million vehicle owners, including large amounts of consumer-level data, which is overlaid on vehicle records. This gives us a great deal of accuracy when we pull and analyze demographic data, without having survey errors from self-reported data or other types of “sampling errors.” Most of the statistics cited on this analysis have a margin of error of +/-2.5% at a 95% confidence level." - Hedges & Company

In this article we will discuss Tesla owner demographics including Age, Ethnicity, Gender, Income, Children, and Home Ownership.

Tesla Owner Income

This probably won’t come as a surprise, but Tesla owners typically have relatively high household income.

The following graphic shows the average household income of Tesla Model X and Model S owners.

*Data Source: https://hedgescompany.com/blog/2018/11/tesla-owner-demographics/*

Based on data pulled from 2,650 Tesla owners, the average household income of a Tesla Model X owner is $143,177 per year.

The average household income of a Tesla Model S owner is $153,313 per year.

This compares to the United States national medium household income of $78,500.

Tesla Owner Age

Tesla Owners are generally an older demographic.

The following graphic shows the median age of Tesla owners compared to the US population.

Generally speaking, as you get older you generate higher income and can afford luxury vehicles with higher price points.

The following chart shows the base and fully loaded prices of various Tesla models as of July 2020 as reported by solarreviews.com.

*Source: https://www.solarreviews.com/blog/how-much-do-teslas-electric-vehicles-cost*

The average Tesla vehicle price considering all models is $66,657.

Tesla Owner Gender: Model X

Tesla owners are predominantly men.

The following graphic shows the percentage of Tesla Model X owners who are male vs female.

It appears that Tesla has a difficult time appealing to women.

Yet this might be a general trend seen by the entire electric vehicle industry. As cited in an article by Nathan Bomey of USA Today titled Why Tesla ‘has a problem appealing to women’: Electric cars, Elon Musk may be off-putting

"The Chevrolet Bolt’s registrations split is 69% men-31% women, while the Nissan Leaf’s is 66% men-34% women." - USA Today

Will the Model Y, a SUV with more utility than previous Tesla models, be able to attract more gender diversity?

Tesla Owner Gender: Model S

Similar to the graphic above, the following chart shows the gender ratio of Tesla Model S owners.

Tesla Owner Home Ownership

A vast majority of Tesla owners own their homes, as opposed to renting.

This data is likely connected to a higher income household.

It also makes sense that EV owners are more likely homeowners, as charging stations may not be practical or available as a renter.

Tesla Owner Children

A majority of Tesla owners do not have any children.

Tesla Owner Ethnicity

The vast majority of Tesla owners are White.

Summary

Currently there is little diversity among Tesla owners.

Most Tesla owners are White middle aged home-owning men who have higher household incomes and no children.

As the electric vehicle market continues to grow it will be interesting to see how the demographics of Tesla owners (and EV owners as a whole) evolve over time.

Tesla Owner Demographics: Age, Gender, Ethnicity, Income, Children