Used Tesla prices have soared since the end of the $7,500 tax credit, even as other EVs get cheaper

"The market for used Teslas is heating up. A booming secondhand EV market is pushing used Tesla prices up even as other electric vehicles get cheaper. The average price of a used Tesla has climbed 4.3% since the end of the $7,500 tax credit for new electric vehicles in September, according to data from used car seller iSeeCars. The two used EVs with the largest rise in prices were Tesla's luxury Model S and X vehicles."

"With the auto industry in the grip of an EV winter as prices soar and automakers cancel new models after the end of the tax credit, electric vehicle buyers are turning to the used-car market. Sales of used battery-powered vehicles surged 21% in January from the previous year, per data from Cox Automotive, even as sales of new EVs fell nearly 30%."

Used Tesla prices have risen since the $7,500 new-EV tax credit ended in September, with average prices up 4.3% per iSeeCars. The largest increases affected the luxury Model S and Model X, which Elon Musk said would be discontinued to make room for the Optimus robot. Average prices for used non-Tesla EVs fell 3.6% between September and January, with the Porsche Taycan the only non-Tesla model to see a rise. Sales of used battery-electric vehicles surged 21% year-over-year in January even as new EV sales dropped nearly 30%, per Cox Automotive. Tesla dominated the U.S. used EV market, outselling the second-largest retailer by over 10,000 vehicles in January.

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