Tesla’s new Model Y, dubbed “Juniper,” has caused a stir in the market with its release as a fully-loaded $60K Launch edition and later a base All-Wheel Drive model at $48,990. This shift is driven by two opposing forces: loyal Tesla fans eager to upgrade, and disgruntled owners selling their vehicles due to CEO Elon Musk’s controversies.
According to data from CarGurus, used Model Y prices have dropped 2.72% in the last 90 days and 12.69% in the past year. Online marketplaces like Autotrader and Tesla’s own website are seeing discounts on pre-owned models. A record number of Teslas were traded in last month, with data from Edmunds showing a surge in protests against Musk’s work as an adviser to former US President Donald Trump.
The used EV market is experiencing a downturn, with Cars Commerce reporting a 24% year-over-year increase in inventory and a decline in searches for used Teslas. However, buyers can still find affordable options: if a used Tesla (or any EV) costs $25,000 or less, it may qualify for up to $4,000 in federal tax credits, according to the IRS.
Source: https://www.forbes.com/sites/brookecrothers/2025/04/06/with-debut-of-new-tesla-model-y-used-price-tumbles–elon-musk-a-factor-too