A recent report by Carmax highlights a trend in vehicle owners switching from ICE to EV. Notably, owners of a particular brand are more likely to make this switch than owners of any other brand, representing a record 12% of customers who trade from ICE to EV.
Carmax's data indicates that Toyota owners are more likely to trade their vehicles for EVs than owners of any other brand.
According to Carmax's report, Toyota owners represent a record 12% of customers who trade from ICE to EV, followed by Ford and BMW at 8% and Honda at 7%. The most popular EV brand is Tesla, with the Tesla Model 3 being the most commonly traded for EV. The Honda Civic and Toyota Tacoma are the most common vehicles traded in for the Tesla Model 3, while the Toyota Prius is the most commonly traded in for the Nissan Leaf. Toyota and Honda owners are leading the migration to Tesla's offerings, likely due to their interest in environmentally friendly vehicles and the lack of EV options from their preferred brands.
But that is a statistical average among all car buyers, who simply pick around what's currently available and are swayed by current buying trends, aka "if everybody else lusts for a Tesla I should too!" just like they were about Priuses when they came out.
My car credo is:
1. I want control. Unless I have it, I don't see why I should even own a car. Unless the driving experience is involved and fun, I might as well take an Uber.
2. I work in high tech. Anything you use advanced electronics in will be obsolete in 5 years. Unless you have a written guarantee with extended support (cars don't have that).
3. The consequence of (2) is that you will bleed to death paying for the super rare spare part in 10 years. While hoping it has some longevity to it (because trust me, there will be no warranty unless you have a maintenance contract that guarantees it).
4. Advanced chips that use the latest nanometer tech will vanish from the supply chain within 5 years. Check out something like Micron/Samsung HMC, which many high tech products relied upon. Totally gone. Lifetime for such a critical chip tech? 6 years. Nowhere to be found.