Before anyone asks, the chart in the article demonstrates that used Kia prices have fallen 6.7%. Tesla is at the top of the chart with 28.9%.
You have to wonder how much of the fall in resale value is because of Elon’s antics tarnishing the brand.
I know I went from wishing I had a Tesla to knowing I’d be on the fence about it if offered one for free today.
Don’t be on the fence, silly, that’s an opportunity!
Quickly fix all the tiny little issues that you could easily fix (misaligned glue, not fully screwed in shit, etc.) and then sell it to a Musker as a model personally sent to you from him to prove the cars don’t have build quality issues (make a fake tweet DM from him or some shit, he’d totally do something like it) and sell it for a 30% markup
Then get yourself an actually decent car with the money
Pretty terrible considering the ongoing Kia theft scandal. Four times worse than a car you can steal with a USB cable
There’s a free repair now that stops the method from working, but it won’t stop dumb kids/criminals from breaking your window and trying anyway.
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.
I don’t know about now, but I was fixated with the idea of buying a v8 sedan for cheap. I found out I could buy a Maserati for 20K if it had over 100k miles on it. This was around 6 years ago. Point being, Maserati depreciates quickly.
Looks like you can now get a Maserati for $15k if it has 60k miles.
They’re owned by Stellantis now, is why.
Maserati depreciates quickly because their upkeep and regular service is ridiculously expensive for a car that is nice, but not nice enough to invest the price of a subcompact every couple of months.
Turns out used car buyers think shitty build quality is… shitty.
That’s only because a lot of people don’t realize they’re owned by Fiat/Chrysler like Alfa Romeo yet.
Let’s all buy Maserati’s!
The data presented on this site looks like crap, it’s just a brand and a price average change for cars 1-5 years old. They talk about iseecars looking at segments but they aren’t comparing segments in the data on this page, just the overall used price by brand.
They also point out in their other article that tesla’s MSRP has dropped heavily across the board from oct 2022 -> nov 2023 for the exact same configuration. With a price cut that big (since the used car market has cooled significantly) I can’t imagine used prices wouldn’t adjust downward to reflect the price difference. Like say say in this article, someone who bought a model x dual motor for 120k in oct 2022 could turn around and sell it for 75k and buy another brand new like model.
Well that’s just because most people don’t know that Maserati is owned by Stellantis now, so they’ll be falling apart at an exponential rate.
This video probably shows a good part of why: https://youtu.be/Fzvgc0N-gZQ?si=h7utWvieutHNFbz5
Like comparing a Ford Focus to a Lamborghini. No shit.
