<i>The average price for a used Y has dropped more than $6,000 over the last 12 months to about $30K this month, as shown in the CarGurus chart below. If you go back even further to March 2023, the bottom has dropped out of Model Y pricing, falling more than $20,000.</i><p>Is much of that driven by the price of new Model Ys declining? I bought one last year and (after accounting for rebates/incentives) it was less than half the price of a few years ago. That may suck for people who bought at the high price and want to resell, because of course they won't be able to sell a used Model Y for more than a new one, so that puts a hard upper limit on the value of used ones. But it's kind of awesome for the rest of us.
“ Tesla Model Y average used price has dropped”<p>Wouldn’t this chart be more likely due to just Model Y being a relatively new car and more used coming into the market, off leases, etc.<p>It seems silly to compare overall prices without comparing similar models like what a 2018 with 40k miles cost last year vs a 2019 with 40k miles now.<p>Ys came out in 2020 and really got popular in 2021-2, so it makes sense that initially used car prices would be higher for 1 year old cars vs when those care are 2 and 3 and 4 years. And depreciation is high in early years so this seems kind of normal.
One can look at the Model S trajectories to see where this is all going. I was looking at a 2018 Model S 75d with 100k on it in very good condition (Texas car). Owner was asking for $18k with lifetime SuperCharging Free. With the additional Gov Tax Credit ($4k) on the used Tesla, the car is a good deal (S14k).<p>But if I were to consider a used Tesla, I wouldn't pay more than what a battery replacement cost. I could deal with the other problems like control arms and coolant leaks, but the replacement of the Battery/BMS is a risky proposition for me if it is no longer under warranty.
<i>With the new Model Y ‘Juniper’ being delivered to the first customers on Saturday, expect a sell-off of the prior generation Y</i><p>Do people often sell their current, functioning vehicle to buy a slightly facelifted vehicle of the same model? Sure people will buy a bigger, faster, or more fuel-efficient car. But I don't know people who will spend 20k or so to get pretty much the same car. And if your previous (less than 8 year old) Tesla had significant problems, I wouldn't be buying another one.
That is insane value for money, if you don't mind the stigma of owning a Tesla.<p>It seems like a used Tesla would be a better deal since most of the parts don't wear out and require maintenance like a petrol car. You can even check the status of the battery from service mode. Reddit seems to suggest high mileage Model 3's are pretty good in terms of reliability.
They chose to focus on Model Y because a new design just came out. Apples to apples comparison 90 day change of prices Model 3: -4.41% to Ioniq 6: -3.38%. Both mid range electrics. I'm always looking for a deal. Nothing spectacular yet.<p><a href="https://www.cargurus.com/research/price-trends/Hyundai-Ioniq-6-d3297" rel="nofollow">https://www.cargurus.com/research/price-trends/Hyundai-Ioniq...</a>
<a href="https://www.cargurus.com/research/price-trends/Tesla-Model-3-d2475" rel="nofollow">https://www.cargurus.com/research/price-trends/Tesla-Model-3...</a>
Has there been a situation where a company leader has potentially tanked sales because of themselves in this very non business related manner?<p>This is a strange timeline.
I will just quote the CEO of Tesla, Elon Musk from 2019:<p>"If you buy a Tesla today, I believe you are buying an appreciating asset, not a depreciating asset."<p>And the reason:
"Musk's prediction is based on two assumptions: Tesla vehicles will be able to drive themselves without any human input by the end of 2019, and customers will be able to make money from their vehicles by including them in an autonomous ride-hailing service Musk says will be ready next year."<p>As Elon would say "Let that sink in".<p>This is one of the major reasons he's in the White House now. Otherwise he would be in prison.
> Additionally, used Teslas are lingering on dealer lots at a similar rate to other EVs…marking a shift from a year ago when Tesla models moved more quickly than their competitors<p>Sounds like used Tesla prices are returning to normal rather than crashing to some other unexpected level.