For a while a used Tesla has cost more than a new one, but recent developments have led to a fall in the resale value of the automaker's EVs.
Up until fairly recently it seemed that customers were happy to pay more for a used Tesla than a new one to avoid having to spend months on a waitlist. The buoyant market also proved lucrative for current owners who found they could make a few bucks by selling their Tesla electric vehicle . But that opportunity now looks to be disappearing fast.
It shows that the average price for a used Tesla last month was $55,754, down from $67,297 in July, marking a 17% drop. That compares with a 4% fall in the overall used-car market in the same period. Reuters’ report notes how factors such as rising fuel prices helped to boost sales of Tesla’s range of EVs, while the trade in customers buying new ones to sell on also had an effect. The report cites one guy who purchased a new Model Y in 2021 for $49,000 before selling it just three months later for $61,000.
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