Used Tesla 3 Prices Dropping Like a Stone

Investment Analysis Clubs Macro Economic Trends and Risks
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https://insideevs.com/news/733279/tesla-model-3-used-ev-prices-dropping/
Used EV prices dropped six times faster than gas cars. Tesla Model 3, Nissan Leaf and Chevy Bolt EV top that list
The above certainly hurts new EV sales.
But the price drop may help fleet conversion.

  • Prices of one to five-year-old used EVs plummeted 25% over the past year.
  • The average price of a used EV in the U.S. is now $27,000, lower than the average price of used gas cars and hybrids.
  • Tesla Model 3, Kia Niro EV and Hyundai Kona Electric are among those leading this plunge.
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The used EV tax rebate went into affect in 2023 (?), but is only good for $25K or less IIRC. So maybe enough EVs are dropping to that level. Or some that would have sold for $26K to $29Kish are being priced right below the threshold to move them out.

Mike

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