Tesla Motors Inc (NASDAQ:TSLA) is surely one of the favorite and popular car maker presently. It enjoys a loyal set of customers, something that other automakers could be envy about. And the same is proved by a recent survey from Jefferies.
Tax credits do not deter Tesla buyers
Jefferies polled 145 Tesla owners of which 85% noted that a Tesla car will be their next vehicle while 25% said they are not considering any other brand apart from Tesla, says a report from Ecomento. Also, 83% of the respondents said they will recommend Tesla to a friend who is looking to buy a new car. In the survey, 89% said they will still go for a Tesla car even if the US federal tax credit of $7,500 is abolished.
The tax-credit will expire by the end of 2016, and as of now, there have been no hints that the Congress will renew it. And, even if the credit line gets an extension, the amount may get reduced as is generally seen, provided the maker has produced over 200,000 electric or plug-in hybrid cars. Tesla will be closer to that number by the end of this year.
Tesla not only popular among wealthy
Unlike the typical luxury-car consumers, Tesla Model S owners represented a much more diverse group, the survey noted. The firm’s potential market is already larger and diverse than the other luxury-cars, and with the launch of Model 3 and the Model X, the market will expand further. The Tesla Model S, though desirable, is out of reach of many. With Model 3, the EV maker will hope to capture the mass market.
The Jefferies survey found that not every Tesla owner is wealthy. Many of the owners surveyed had previously owned not so luxury cars such as the Toyota Camry, Honda Accord and BMW 3 Series, which is BMW’s entry-level car in the US.
The survey seems to reflect the already known fact that Tesla. The Model S is regarded highly by customers as the car has been leading the Consumer Reports’ customer satisfaction index for the last 2 years. In majority of the surveys, it has been found that almost 98% of the users plan to buy Tesla again, versus an industry average of 70%.
On Thursday, Tesla shares closed up 1.16% at $257.92, and year to date the stock is up over 16%. Over the past 12 months, stock is up almost 13%.