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Old 06-14-2019, 11:29 AM   #1
AVANTI R5
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Default EVs Lose Resale Value Fast, But Not Tesla

https://www.iseecars.com/used-car-fi...-bargains-2019



Quote:
Quote:
Electric vehicles (EVs) are depreciating much faster than the average for all cars, with one notable exception—Tesla, whose vehicles hold values better than their gas-powered rivals.

Automotive research firm has examined the depreciation of EVs and found that the lightly-used electric cars—the average three-year-old used prices—in the EV segment depreciate on average 56.6 percent, compared to average depreciation of 38.2 percent for all vehicles.

“Categorically, electric vehicles depreciate more than the average vehicle because resale values take into account the $7,500 federal tax credit and other state and local credits that were applied to these vehicles when they were bought new”.

“Because the technology of EVs changes at a rapid pace, obsolescence also plays a role in their dramatic depreciation as well as consumer range anxiety and lack of public charging infrastructure,” according to Ly.

The best bargains for those looking to buy a lightly used EV is Fiat 500e, which depreciates by 69.7 percent, followed by BMW i3, Nissan LEAF, Volkswagen e-Golf, and Ford Fusion Energi.

Separate, has found that used late-model versions of the Tesla Model S are in high demand compared to similar luxury cars, and that despite high average prices, the Model S sells faster than its competitors.

Ladt December that Tesla Model S and Model X hold their resale value better than any of their gas-powered peers, with the Model S value down on average by 27 percent after 50,000 miles, compared to an average of 36 percent in its segment, and the Model X value down by an average 23 percent, compared to 33 percent in its segment.

Meanwhile, Tesla’s new vehicles sales in North America, its home market, reached an all-time high, according to a report by Electrek earlier this month, which cited exclusive information supplied by unnamed sources.
https://www.autolist.com/news-and-an...s-depreciation


Highlights:

The Tesla Model S and Model X hold their resale value better than any of their gas-powered peers, according to an Autolist.com study.
The Model S declined on average by 27 percent after accumulating 50,000 miles; the overall segment declined by an average of 36 percent after 50,000 miles.
The Model X value declined by an average of 23 percent after 50,000 miles; the segment as a whole declined an average of 33 percent after 50,000 miles.
Model S resale values have been stable since the previous Autolist study in August 2016 despite greater inventory.
Full story:

Despite growing competition from its own Model 3 electric sedan, and continued news about upcoming electric vehicles from legacy automakers, Tesla’s Model S and Model X vehicles have continued to hold their resale value better than all of their gas-powered competitors, a study by Autolist.com has found.

Based on vehicle listings from January 1, 2012, through November 5, 2018, on Autolist.com, the value of a Model S with 50,000 miles on it had declined on average 27 percent from its original list price. A comparable Mercedes S Class -- the next closest competitor in the large luxury sedan segment -- had lost an average of 33 percent of its original list price after accumulating 50,000 miles.

Tesla depreciation

The competitor with the greatest depreciation was Jaguar’s XJ, which lost an average of 45 percent of its listing value after 50,000 miles.

Also included in the Model S’ segment are the BMW 7 Series, Audi A8, Porsche Panamera and Lexus LS. Autolist’s data showed that at no point in the depreciation curve of any of these vehicles did a gas-powered rival have a stronger resale value than the Tesla Model S.

Not only is the Model S’ depreciation value better than all of its luxury sedan peers, but it’s also holding its value even as more examples of used Model S sedans hit the market. In August 2016, a Model S with 50,000 miles lost an average of 28 percent of its original list price, according to an Autolist study at that time.

The depreciation gap between Tesla’s Model X crossover and its rivals was even more pronounced, Autolist found.

2120x1192 White MX Downhill

A Model X with 50,000 miles on it saw its value decline 23 percent from its original list price. The next closest model in the segment was the Lincoln Navigator, which dropped in value by an average of 34 percent. The BMW X5 faired the worst in this segment, slipping an average of 37 percent.

This segment also measured the values of the Audi Q7, Mercedes GLS (previously the GL), the Infiniti QX80, Cadillac Escalade and Range Rover. Like its sedan counterpart, the depreciation curve for the Model X from 10,000 to 100,000 miles consistently outperforms its gas-powered peers.

These findings are based on 35,442 listings of unique, used Model S sedans on Autolist.com between January 1, 2012, and November 5, 2018. Overall, the data set included 1.209 million vehicle listings for the large luxury sedan segment.

On the Model X side, the resale values were calculated using 4,242 unique, used Model X crossovers listed for sale on Autolist.com over the same period. The dataset included 1.683 million vehicle listings in the large luxury SUV segment.

These results show that demand for used Tesla Model S and Model X vehicles hasn’t been affected by the arrival of the cheaper, smaller Model 3. Nor has demand been affected by Tesla’s woes in 2018.

The electric automaker has been hit with several investigations by the SEC and Department of Justice, along with production and distribution headaches for the Model 3 sedan.

Even Musk himself admitted in an interview with HBO in late November that Tesla came within "single-digit weeks" of a "threat of death" this past summer.

Amid all the turmoil, there have been some bright spots for the company in 2018; Tesla posted a small profit in the third quarter; it also built more than 56,000 Model 3 sedans that same quarter. To date, Tesla has built more than 110,000 Model 3 vehicles in 2018, according to data from Automotive News.
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Old 06-14-2019, 11:50 AM   #2
dwf137
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Supply and demand.

I looked locally recently for used Teslas. There's very few.

There's also no real competitors for Tesla owners to move on to, and no real "updates" or new designs, so they're just holding on to them.

As they make more, get more legit competition, and continue to age, supply will go up and used values will fall.
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Old 06-14-2019, 12:02 PM   #3
godfather2112
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Quote:
Originally Posted by dwf137 View Post
Supply and demand.

I looked locally recently for used Teslas. There's very few.

There's also no real competitors for Tesla owners to move on to, and no real "updates" or new designs, so they're just holding on to them.

As they make more, get more legit competition, and continue to age, supply will go up and used values will fall.
Nailed it. What I think will be interesting is to see Model 3 resale values in 3 years. I'd bet I see several Model 3's daily so the supply is significantly more than S and X, at least where I am.

I am also interested to see what happens with the S resale values when the supposed exterior refresh happens. I'm not surprised to see Tesla holding value much better than gas "equivalents." More supply with gas will drive down resale. Tesla has a very strong "cult" like customer base who hold on to their vehicles thus making the limited used market supply low, thus cost would naturally go up.
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Old 06-14-2019, 12:35 PM   #4
subyski
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Quote:
Originally Posted by dwf137 View Post
Supply and demand.

I looked locally recently for used Teslas. There's very few.

There's also no real competitors for Tesla owners to move on to, and no real "updates" or new designs, so they're just holding on to them.

As they make more, get more legit competition, and continue to age, supply will go up and used values will fall.
Also, Tesla's are receiving over the air updates so it makes one less reason for owners to trade them in.
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Old 06-14-2019, 12:44 PM   #5
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https://www.businessinsider.com/tesl...on-list-2019-2


Then there's that.


Why sell/trade when you're happy?
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