Owners of Toyota hybrid vehicles are found to keep their cars longer amid the growing trend of trading cars for leases, a study claims.
The study conducted by iSeeCars, which looked into 900,000 vehicles from the 2012 and 2013 model years that were sold in 2020, zeroed in on hybrid and electric vehicles, 38% of which were Toyota Highlander Hybrid units sold by their original owners.
In the same vein, five other Toyota hybrid models made the list—the Avalon Hybrid in second place with 36.5%, the Camry Hybrid with 34.6%, the Lexus ES 300h with 31.1%, the Prius with 3.05%, and the Lexus RX 450h with 29.8%.
These figures mean a significant number of original Toyota hybrid buyers held onto their cars for about eight years before trading them off.
For comparison, data on the Nissan Leaf show that of all the Leaf models sold this year, 7.3% of them were from original owners. Overall, only 16.8% of cars sold this year were from the first owners, further proving how committed Toyota hybrid owners are to their vehicle.
Many customers have long expressed hesitation in purchasing hybrid vehicles due to costs, but data show that hybrids yield a greater return on investment in the long run.
Aside from Toyota hybrids, the Tesla Model S is also drawing attention on iSeeCars’s list with 23.6% sold models coming from original owners.