Tesla’s used car prices have taken a significant hit, dropping by 3.7% over the last three months and 7.26% over the past year – a rate three times that of the overall used car market. According to data from CarGurus, the average price of new cars in the US is $27,014.
Tesla’s prices are now coming close to this average, with the brand’s average price sitting at $29,552. This trend comes as a surprise given Tesla’s premium reputation and sales struggles. However, it appears that an increase in supply – likely due to people selling and trading in their vehicles to distance themselves from the brand – is driving down prices.
The data shows that only one model, the Model X, saw an increase in price over the past year. In contrast, other models like the Cybertruck, Model 3, and Model Y have seen significant declines. The Cybertruck’s used price has dropped by 58% over the past year, but this may be misleading as some buyers were still looking to flip them for a profit.
More concerning are the recent drops in prices of popular models such as the Model 3 (-4.2%) and Model Y (-2.9%) over the last three months. This trend suggests that Tesla’s vehicles are depreciating at an alarming rate, contradicting the brand’s claim that its cars become “appreciating assets.”
Source: https://electrek.co/2025/03/17/tesla-used-car-prices-falling-3x-rest-market