The article discusses the significant drop in used Tesla prices, which fell 7.5% year over year, with the Model 3 and Model Y leading in depreciation rates. Data from CarGurus indicates that used Tesla prices have decreased twice as fast as the general car market. Factors contributing to this trend include extensive price cuts on new models and a large influx of fleet disposals. Despite efforts to enhance Tesla's image, including endorsements from notable figures, the steep depreciation poses challenges for owners.
Used Tesla prices have fallen significantly—7.5 percent year over year—as new car price cuts and fleet disposals accelerate depreciation in the market.
The Model 3 sees an average price of just under $20,000, with recent models depreciating rapidly; the 2022 Model 3 now averages around $25,000.
The fall in used Tesla prices is notable—CarGurus reports drops of 16-21 percent for Model Y, indicating a broader trend in electric vehicle depreciation.
Despite Tesla's efforts to build its brand, including endorsements from figures like President Trump, the depreciation trends present challenges for its resale value.
Collection
[
|
...
]