According to a survey of 2022, 26 percent of respondents aged between 60 and 69 years in Australia were Tesla owners. The source disclosed that the popularity of Tesla among the respondents aged between 30 and 39 years was comparatively less due to the avaliable range of models in Australia.

According to a survey of 2022, among the states and territories of Australia, New South Wales and Victoria had the highest number of Tesla owners with a share of 30 percent of respondents. The source also revealed that the share of Tesla owners was comparatively less in Australian Capital Territory because of its government electric vehicle policies.

In the fourth quarter of 2024, Tesla Motors recorded a net profit of 2.3 billion U.S. dollars. The company is based in Palo Alto in Silicon Valley. Tesla Motors develops and builds electric cars and electric drive components.

In 2023, the Munich-based company sold some 51,700 units of its electric vehicles. The series was launched in November 2013. BMW is among the leading luxury car brands worldwide.

Young people between 18 and 29 years old were the age group most likely to consider the purchase of an electric vehicle in the United States as of May 2022. Around 55 percent of the Americans between 18 and 29 years old surveyed reported being somewhat or very likely to consider buying an electric car. By contrast, only 31 percent of the respondents over 65 years old surveyed declared having an interest for the vehicle segment. The likelihood to consider the purchase of an electric vehicle also depended on consumers' previous EV knowledge.

21 percent of respondents driving an electric vehicle in the United Kingdom reported an annual household salary before tax over 83,001 British pounds, making it the income group with the largest share of EV drivers. In contrast, participants with an annual household income at or below 21,000 British pounds made up seven percent of the EV drivers.

Close to a quarter of the surveyed electric vehicle drivers were over the age of 55, making it the largest age group for electric vehicle drivers in the United Kingdom. By contrast, people below the age of 25 only represented six percent of the total electric vehicle drivers.

In 2022, the electric vehicle market in the United Arab Emirates was largely dominated by Tesla, which accounted for almost 64 percent of the country’s sales. In comparison, Porsche sales were at about 15 percent of the total electric vehicle sales in the country that year. E-mobility and electric vehicles in the UAE The United Arab Emirates (UAE) is among the world’s biggest polluters in terms of per capita carbon dioxide emissions, emitting more than 24 metric tons of carbon dioxide (CO₂) per person in 2023. Nonetheless, the country has put forward ambitious sustainability plans. As part of its e-mobility strategy, the UAE aims for 50 percent of all vehicles on its roads to be electric or hybrid by 2050. As of June 2024, a global survey found that about 18 percent of car owners in the country had a hybrid or electric car. However, as in many other countries, the limited availability of charging stations has slowed the wider adoption of electric vehicles, acting as a bottleneck in reaching the 2050 e-mobility goals. Sustainability concerns in MENA The Middle East and North Africa (MENA) region is among the regions expected to face the most extreme effects of climate change. For instance, the water stress level was projected to be extremely high in the region by 2050. However, public awareness of sustainability topics in MENA remains relatively low, with about nine percent of people being concerned about saving water. While in resource-strained countries, sustainability issues do not easily make it into the list of priorities. Consumer concerns surrounding climate change as a threat to their families in the region were high, despite skepticism over the severity of climate change observed in some countries.

In 2023, Tesla was the leading luxury car brand in the United States, recording luxury sales of around 650,100 units. It edged out its main competitor, BMW, which recorded estimated sales of over 351,600 luxury vehicles.
The U.S. luxury market
Luxury cars represented an estimated 6.8 billion dollars in revenue in the U.S. in 2022, with a projected growth in 2023. The U.S. were the leading market for luxury automobiles worldwide, with a market size over twice the revenues generated by the luxury car market in Germany, the second largest market for the segment. Despite the revenues generated by the luxury market, the U.S. represented less than a quarter of BMW’s regional automobile sales in 2023, while the brand was one of the market leaders in the country. The luxury car segment also made up some 5.3 percent of the total U.S. light vehicle market demand as of June 2022, dwarfed by the crossover segment which held almost half of the market. Car owners view luxury brands positively Luxury automotive brands are amongst the automotive brands perceived as most reliable by car owners. At 79 percent, Toyota’s subsidiary Lexus was the first most reliable car brand for car owners in late 2023. Lexus was also second in overall consumer satisfaction that same year, followed by Tesla. However, the importance of buying luxury cars, motorcycles, or bicycles in the U.S. was relatively low, with 19 percent of the respondents in a recent survey citing the products as a type of luxury goods they spent their earnings on.

In 2024, the global market for luxury cars was estimated at around 579 billion euros, an estimated increase of around 8.8 percent year-on-year. That same year, the global luxury market was put at around 1.48 trillion euros. Global luxury car market size The luxury car segment is one of the most dynamic sources of revenue growth in the global luxury goods market. This segment is primarily driven by rising demand from increasingly affluent buyers in emerging markets. In 2020, the luxury car market contracted amid the outbreak of the coronavirus pandemic in key markets worldwide. The market effectively rebounded in 2021, despite grappling with the global chip shortage. Three years later, in 2024, the United States was the leading luxury automobile market worldwide, amounting to revenues of around seven billion U.S. dollars. Electrification of luxury cars In an attempt to appeal to the more environmentally conscious group of buyers, a fair share of the luxury car fleet is projected to become more ‘eco-friendly’. Luxury electric vehicles such as the battery-powered models offered by Tesla are set to drive growth in the luxury car segment. At the same time, luxury SUVs are also expected to attract a new group of customers. High-end automobiles are expected to combine connectivity and ergonomics. However, smart vehicles require improved infrastructure, particularly in urban areas. As a result, there is a growing number of cities providing the infrastructure that is needed for the implementation of connected car programs.

Crossovers are Americans’ favorite type of passenger vehicle. This category accounts for over 45 percent of automobile sales in the United States as of June 2022. The most popular models include Honda’s CR-V, Nissan’s Rogue, and Toyota’s RAV4. In the first quarter of 2022, U.S. auto buyers bought just under 101,200 units of Toyota’s RAV4 model, making it the best-selling vehicle in this category.

Toyota is the market leader  

The RAV4 was one of the very first specimens of its kind, as production of this model began in 1994. Toyota was the second most valuable automotive manufacturer worldwide in 2022, with a brand value of just over 33.1 billion dollars. It followed Tesla, which was first in the ranking with a gap of over 42 billion dollars compared to the runner-up. Toyota’s net revenue rose to 31.4 trillion Japanese yen in 2022 (around 257 billion U.S. dollars as of March 2022 exchange rates), a visible growth of over 15 percent compared to 2021, despite the manufacturer being impacted by the global automotive chip shortage.

 Crossovers benefit from the shift away from sedans   Crossover SUVs (sport utility vehicles) combine the fuel efficiency levels of compact and midsized cars and the higher seating positions of light trucks. They gained in popularity when fuel prices were low and, consequently, automakers increased production volumes and model additions of this vehicle type. Between 2014 and 2021, U.S. car sales fell from over 7.7 million to around 3.34 million units. Concurrently, light truck sales increased from 8.7 million units in 2014 to close to 11.6 million units in 2021. The impact of the COVID-19 pandemic on vehicle demand led to a 9.6 percent drop in light truck sales in 2020. This drop in vehicle sales impacted countries across the globe. In 2020, Germany recorded a loss of over 140,000 sales of SUVs compared to 2019, whereas China’s new SUV registrations remained stable between the two years.