Tesla’s Model Y has won the Autovista Group Residual Value Award in the highly competitive Compact and Large Battery-Electric Vehicle (BEV) SUV category, demonstrating its impressive ability to maintain value over time. The award-winning BEV surpassed tough competition from other prominent European brands.
Several attributes contribute to the Model Y’s position as the residual value (RV) leader in its category, spanning all-electric SUVs in the C, D, and E-segments. The BEV’s clean, minimalistic design and coupé-like silhouette contribute to its efficient performance, with driving ranges surpassing 400km. Tesla’s extensive supercharger network further mitigates any charging-related concerns for users.
In addition to these technical advantages, the Model Y’s strong brand recognition has played a significant role in its success. The all-electic SUV continues to perform well across Europe, securing a reputation for EV value retention.
Autovista Group’s Chief Economist, Christof Engelskirchen, highlighted the tight competition in the BEV SUV market, noting that 27 BEVs featured in the top five across 17 countries surveyed. Runners-up included the Skoda Enyaq, Audi Q4 e-Tron Sportback, Volvo EX90, and Volkswagen ID.4, all displaying commendable RV performance.
Despite this, Tesla’s Model Y has proven to be a safe bet for consumers seeking a reliable, efficient, and durable electric vehicle. Tesla’s sales data corroborates this, indicating that the Model Y was the best-selling car overall, globally and in Europe, in the first quarter of 2023.
A Tesla spokesperson added that the vehicle’s impressive sales performance, product desirability, and continued value throughout its life contribute to its superior resale value. This is also supported by the Model Y’s top score from the European New Car Assessment Programme (Euro NCAP) for 2020 to 2022.
Notably, the Model Y’s enduring value is also attributed to Tesla’s commitment to product enhancement through original engineering and remote fleet upgrades, with over-the-air updates being a common occurrence for Tesla owners. Battery durability, the tent’s simplicity, and low maintenance costs for high-mileage vehicles are also contributing factors to the Model Y’s accolades.
Data from Autovista Group’s analysis of the used-car market from February to April 2023 and forecast trade RVs of 36-month-old cars at 60,000km further substantiated the Model Y’s success. In several markets including France, Italy, Portugal, and Hungary, the Model Y’s indexed RV performance surpassed 120%.
Jose Pontes, data director at EV-volumes.com, affirmed the Model Y’s position as a reliable choice in the BEV SUV segment, describing it as a “great all-rounder” that delivers efficiency, range, and dependability in a practical package.
