Overview

• Used Tesla prices have dropped sharply, with some models losing up to $20,000 in value since 2023, far exceeding declines in other EV brands.
• The average resale price of a Tesla is now $10,000 lower than that of other electric vehicles, according to CarGurus data.
• A surplus of used Teslas, fueled by off-lease vehicles, rental fleet sell-offs, and consumer protests, is contributing to the steep price declines.
• CEO Elon Musk's controversial actions and political stances have led some owners to sell their Teslas, further damaging the brand's image and resale market.
• Despite the depreciation, low prices for used Teslas present an opportunity for buyers seeking affordable EVs with strong charging infrastructure.