Tesla Cars Lose Value Three Times Faster Than A Maserati, Study Says
Tesla Cars Lose Value Three Times Faster Than A Maserati, Study Says
Recent price cuts have made Tesla resale values drop at ludicrous rates
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While the Herz fleet being sold is definitely impacting Tesla resale prices specifically, I think the larger impact is ICE vs EV resale in general. An ICE car from 5 years ago is not all that different than a new one today, mechanically speaking. 5 years in the EV world is a very long time. A new model will come with longer range and faster charging that was not feasible 5 years ago. So a brand that only sells EVs is going to suffer a bit more in studies like these.
There's lots of factors:
- concerns about battery degradation
- massive price cuts on new Teslas
- concern that newer tech will make your purchase obsolete
- possibly a feedback loop on any of the above
If I needed to replace a vehicle, I would almost certainly get a lightly used EV. Many are priced 40% lower after just a couple of years. As long as I drive it for 5 or so years, the value is there for me.
I personally wouldn't buy a Tesla, because Elon is a prick. I'm sure there are others. It's probably not the biggest factor in tumbling prices though.
Fully agree. I got my EV used and it's 7 years old now and buying it was definitely the right choice for me. But I remember considering all of those factors when I was shopping. Used EVs becoming cheap is great and helps get them into the hands of people who can't afford new ones. Sure I'll make less selling when I do, but it's a tool for transportation, not an investment.
biggest issue with EVs is that they are still locked to those who can charge at home, so mostly house owners.
I live downtown in a fair sized city. There are 4 Teslas within a block of me. Only street parking. It surprised me because I figured I couldn't go electric because of no driveway etc. But they make it work. So I think that's changing over time.
That said I still wouldn't go electric, at least anytime soon because I go camping constantly.
You can make do with charging at work, if they use superchargers only they are putting massive degradation on their batteries which is just a stupid move and depending on the price of charging comes out more expensive than an ICE that can do 5L/100km