Recent surveys indicate a distinctive profile of Tesla owners, diverging from the typical driver demographic.
Gender Distribution
Hedges & Company’s analysis reveals that a significant majority of Tesla owners, approximately 74%, identify as male. However, there has been a slight increase in female ownership, with about 27% of Model S owners identifying as female.
Racial Composition
Tesla ownership is predominantly Caucasian, with approximately 81% of owners identifying as such. The proportion of white owners has decreased from 87% in previous years. Other racial groups include Hispanic (11%), Asian (5%), and Black (2%).
Income Levels
Tesla owners typically belong to the upper-middle class, with household incomes exceeding $100,000 annually. The average household income among Tesla owners is $150,015, with Model X owners boasting the highest average income at $161,898.
Homeownership
An overwhelming majority of Tesla owners, about 97%, are homeowners. The median home value for a Tesla owner exceeds $500,000, and California stands as the most popular state for Tesla ownership.
Family Composition
Approximately 70% of Tesla owners do not have children living in their homes. However, this does not imply childlessness, as Tesla owners tend to be older, with a median age of 48. Model S owners are typically the oldest, with a median age of 55, while Model Y owners are the youngest, with a median age of 47.
Additional Insights
Age Distribution
Contrary to the predominant Generation X ownership, a study by Jerry, a Palo Alto-based car insurance savings app, indicates that 58% of newer Tesla drivers (2023 and 2024 models) belong to the Millennial or Generation Z cohorts.
Education and Occupation
Tesla owners exhibit higher educational attainment, with over one-third holding a master’s or doctoral degree. This contrasts starkly with the national average, where only 13% of the population attains such degrees. Moreover, the most common occupations among Tesla owners include engineers, operations managers, and software engineers.
Conclusion
While the demographic profile of Tesla owners may differ from the average driver, it aligns closely with studies of typical EV buyers, portraying a wealthy, educated cohort that embraces electric vehicles over traditional gas-powered cars.
Clara Cardoso
