A man who bought a Tesla in 2022 for US$140,000 was completely shocked when he discovered how much the car was worth after just two years of use.
Kyle Connera content creator focused on vehicles, shared the situation on his X profile in 2024. At the time, his car was worth just US$46,000, a devaluation of almost US$100,000 in just two years.
Although all new cars depreciate in value with use, Tesla appear to be particularly prone to sharp drops in their list value, according to Stuart Massoneditor do The Car Expert.
To the LADBibleMason explained that the Tesla’s they lose more value than other cars because they became a “victim of their own success” in the electric car market, as they were “by far the best-selling models”.
Since there are so many used models available on the market, this means that supply is higher than demand, which reduces the value of each individual car as second-hand buyers have more options to consider.
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Furthermore, the Tesla’s Second-hand vehicles are also competing against the sale of new models from Teslawhile also facing sales challenges against other manufacturers who are bringing their own electric models to market.
At the same time, EV prices in general are also experiencing a decline, considering that car brands are simplifying their manufacturing processes, which results in cheaper cars overall.
Knowing this, for those who want to buy a used car, it may not be worth investing so much money in one. Tesla with two or more years of use, knowing that, for the same price, it is possible to buy a new car from another manufacturer.
depreciation pic.twitter.com/3wZ0I9usYK
— Kyle Conner (@itskyleconner) October 27, 2024
Photos: Unsplash / X @itskyleconner. This content was created with the help of AI and reviewed by the editorial team.
