Americans are increasingly interested in switch from ICE equipped models to tramwhether new or good used. Latest report from used car retailer XeMax says that searches for electric vehicles have doubled in the last year, driven by higher gas prices in the country. Many auto buyers are now viewing these searches through the purchase of a used EV, trading their ICE-equipped cars in the process. And follow XeMax, Toyota is the “most traded brand for electric vehicles”, which shows that the Japanese automaker has more reluctant than most to switch to an all-electric car.
In case you lost it:
The XeMax The study looked at trends within a vehicle segment or type and in specific brands that stand out any time a buyer makes a major switch from an ICE to an EV. The retailer found that SUVs were the most common type of vehicle in exchange for electric vehicles, accounting for 40% of the vehicles that buyers left at the parking lot; sedans and coupes account for 29% of electric vehicle purchases; and luxury cars ranked third with 17%.
The percentage in the segment is not surprising considering the popularity of SUVs compared to sedans and coupes: if there are more SUVs on the road, that means more SUVs are traded. .
But it’s worth noting that the top five EV models are Are not SUVs. In order of their popularity, the best-selling electric cars at CarMax are Tesla Model 3, Tesla Model Y, Leaf Nissan, Ford Mustang Mach-E And Chevrolet Bolt EV.
Presumably, that means shoppers are exchanging their SUVs for EV sedans and crossovers. CarMax doesn’t disclose the exact percentage of SUV owners switching to a Tesla Model 3, but if the Model 3 is the best-selling electric vehicle, it’s likely that some former SUV drivers switch to Tesla, which could bodes well for the future of the doomed sedan.
The XeMax The report says the most popular Tesla Model 3 exchange is the Honda Civic, while the second most popular is the Toyota Tacoma. CarMax shoppers buying a Nissan Leaf are most often traded in the Toyota Prius – but not to mention how many Prius Primes were traded.
Either way, this has contributed to Toyota becoming the most traded brand for electric vehicles, accounting for 12% of ICE-to-EV transactions. Ford and BMW are both in second place with 8% and Honda in third with 7%.
This marks the second year in a row Toyota is the most traded brand for electric vehicles at CarMax, which may or may not be related to Toyota’s reticence towards all-electric cars. . Toyota remains committed to hybrid and plug-in hybrid vehicles, such as the Prius, while at least some former owners are doing the unthinkable: switching from Toyota to Nissan, all for the sake of a new EV than.
