In 2024, Tesla's Model 3 and Model Y vehicles saw the highest depreciation rates among used cars, with prices dropping by 25.5% and 25% respectively. This significant decline contrasts sharply with other models like the Nissan Maxima and Ford Mustang, which experienced much lower depreciation rates. This trend is influenced by brand-specific factors, including price cuts aimed at boosting demand and the nature of Tesla’s technology, which resembles the depreciation patterns typical of consumer electronics. Additionally, various market dynamics did not appear to be affected by Elon Musk's political engagements following a 2024 event involving President Trump.
The average price of a Model Y for sale on the platform dropped by 25.5% between January of 2024 and January 2025, highlighting significant depreciation in Tesla vehicles.
Tesla's steep price drops are driven by brand-specific factors, including price cuts to revive demand and the impact of speculative self-driving technology on depreciation.
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