A new study from LendingTree in the online lending service market is spotlighting Tesla’s popularity among automotive purchasers looking for luxury cars. From January to November 2024, Tesla Model Y and Model 3 received the most loan inquiries from car buyers who are considering acquiring luxury cars.
the study:
For the study, LendingTree analyzed more than 1 million car loans for passenger cars from January 1 to November 30, 2024. In order to determine the most popular luxury vehicles among car shoppers, LendingTree has taken a luxurious vehicle Make’s total query and split it. The total number of luxury vehicle queries during the research period. Using CARFAX’s “Complete Guide of Luxury Car Brand”, we decided which car brand was considered luxury. Tesla is included in the list.
Model Y and Model 3 Results:
According to LendingTree survey, Tesla’s two mainstream vehicles have attracted the highest interest among car buyers trying to acquire luxury cars. Tesla Model Y has acquired the top spots in the research. Tesla Model 3 continued closely at 5.6 %. This is very impressive considering that the vehicle is a sedan. BMW gained 16.6 % of the luxurious brand queries in research on very few vehicle lineups, but Tesla gained 15.8 %. This means that Tesla defeated Mercedes -Benz and Lexus, which won 12.0 % and 11.1 % of luxury brand inquiries.
Why is it important:
According to LendingTree, the legitimate reason behind the popularity of Tesla Model Y and model 3 among luxury car buyers may be the reasonable price of vehicles. Tesla is considered a luxury brand, but the price of model Y and model 3 is very competitive. The 2024 model Y begins with a reasonable $ 44,990. Model 3 is even more friendly to the budget, and Kelly Blue books are praised as “electric sedan bargains” at a price.
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