Connected and Autonomous Vehicles (CAVs) are becoming a reality and are progressively penetrating the markets level by level. CAVs are a promising solution for traffic safety. However, robust studies are needed to explore and assess the expected behavior. This study attempts to evaluate traffic safety resulting from a near-real introduction of CAVs with different levels of automation (from Level 1 to Level 4). The investigation consisted of modeling different CAV levels using Gipps’ model, followed by the simulation of nine mixed fleets at a motorway segment. Subsequently, the Surrogate Safety Assessment Model was used for safety analysis. According to the results: (1) the gradual penetration of CAV levels led to a progressive reduction in traffic conflicts, ranging from 18.9% when the penetration of high levels of automation (Level 3 and Level 4 vehicles) is 5%, to 94.1% when all the vehicles on the traffic flow are Level 4; (2) human-driven vehicles and vehicles with low levels of automation (Level 1 and Level 2 vehicles) are more frequently involved in conflicts (as follower vehicles) than vehicles with high automation levels. E.g. human-driven vehicles are involved in conflicts from 8% to 122% more, while vehicles with high automation levels are involved in conflicts from 80% to 18% less than their sharing percentages, respectively, depending on different mixed fleets. This study confirms the theory and conclusions from previous literature that indicate a safety gain due to CAV penetration. Moreover, it provides a broader perspective and support for the introduction of CAVs levels.