Used Teslas show resilience in the secondary market, with nearly 50% of used EV sales in May. While Tesla values have declined due to depreciation and price cuts on new models, evidence suggests they are performing well against other used electric vehicles. The average days of supply for used Teslas is 28 days, markedly lower than the 44 days for used gas vehicles, indicating strong demand among price-conscious buyers looking for Model 3 and Model Y models.
Despite brand damage from CEO Elon Musk's political antics, used Teslas remain highly sought after. Tesla accounted for nearly 50% of used EV sales in May.
The average days of supply for used Teslas fell to just 28 days, favoring them compared to 44 days for used internal combustion engine vehicles.
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