It’s no surprise that Tesla’s performing well this quarter, and it’s value is through the roof. Even used Teslas are considered incredibly valuable, and this detail isn’t going unnoticed by experts.
According to Bloomberg, the Tesla Model 3 sales may be exceptional in a used market setting, just as it has been amongst new cars. Between the Model 3’s demand, roll-out software updates, and quick used sales times, it only makes sense that the electric sedan would resell so well.
And Bloomberg isn’t the only one reporting these findings.
Less than 2% of new car buyers have figured this 👇🏼 out and understand resale values impact on Total Cost of Ownership. $TSLA
These used Tesla Model 3 prices are trolling the legions of “I only buy used cars” buyers.
Best to buy a new Tesla if possible https://t.co/SApVUGrxGv
— Bradford Ferguson (@bradsferguson) August 25, 2020
George Augustaitis, director of the automotive industry and economic analysis at CarGurus Inc. said, “If you’re looking for a used Audi A4, you have other comparable options like the BMW 3 Series, Mercedes-Benz C-Class and Lexus IS.” He continued, “If you’re looking for a Model 3, there’s no substitute.”
Many Twitter users and Tesla fans alike have shared similar opinions, that Tesla Model 3s hold up in the used market much better than conventional motor cars, and even better than other EVs like the Nissan Leaf and the BMW i3. Still, many agree that it’s probably best to buy new if you can, though even if you do it’s nice to know your car will retain its value.
As supply for the EV market continues to grow, it will be interesting to see how used market values change. No matter how they do, Tesla’s likely to stay on top for the time being.
