Prices Of Used Teslas Drop Way Faster Than Those Of Other Brands via insideevs.com
The times when Tesla owners could sell their used EVs at a profit are gone. Tesla is cutting new car prices and prices of used Teslas are falling faster than those of other automakers., Tesla EVs are also spending more time in dealer lots than before.in November was $55,754, down 17 percent from a July peak of $67,297. The price drop is more significant than the overall used car market's drop of 4 percent during that period, according to data from research firm.
Over the past year, demand for Teslas was boosted by rising gasoline prices caused by the Ukraine war. Tesla cashed in on increasing demand by raising prices faster than other automakers, resulting in fatter profit margins.Gallery: 2022 Tesla Model 3For example, nearly a third of used Teslas for sale in August were 2022 models up for resale, indicating that original buyers were looking to flip, according to analysts.
, and competition is growing in the EV space. All these factors led used Tesla prices to fall faster than the market, which in turn contributed to price cuts on new Teslas.last week doubled a US new-car price cut to $7,500 for Model 3 and Model Y EVs delivered this yearLast week, Elon Musk said that the “radical interest rate changes” have increased the prices of all cars, new and used.
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