3 ms·

There are other factors, too. As an owner of a 2023 Model 3, I am acutely aware of them. It's not just image, but prices. The 2023 Model 3 & Y were expensive

There are other factors, too. As an owner of a 2023 Model 3, I am acutely aware of them. It's not just image, but prices. The 2023 Model 3 & Y were expensive, and Tesla started slashing the prices in 2024. This absolutely destroyed the resale value for people who paid near the high point. I suspect people don't really notice this as much because if you are familiar with regular manufacturers you are used to the price (well, the MSRP at least) staying rock steady for a year at a time. Tesla moves their prices around quite a lot by comparison, which can be very detrimental to the used market when it drops quickly.

deleted 1y ago
[deleted]
thenobsta 1y ago
This got me curious about tesla prices over time. Turns out someone has a nice spreadsheet of this. I don't know about the accuracy, but it's a cool spreadsheet. https://docs.google.com/spreadsheets/d/1F5IQOynIawoXiJPVarLDgPQDJAdzY8b5Vamw-Vf3eSY/edit?usp=sharing https://docs.google.com/spreadsheets/d/1F5IQOynIawoXiJPVarLD...
lotsofpulp 1y ago
> and Tesla started slashing the prices in 2024 Jan 2023 was when prices were slashed, and the $7,500 tax credit came in.
- rootusrootus 1y ago
  You're right, I was off by a year. We have a 2023, but we bought it in December 2022. Not at the high point, exactly, but still before a big slash in prices, and before the credit. We mistakenly thought the credit wasn't going to happen. If I sell the car anytime soon it will definitely be the most I've ever "lost" on a car purchase. Oh well.
  - lotsofpulp 1y ago
    That's unfortunate. I also had a few cousins buy a Tesla just before the price changes and credit happened. I paid $25k or so less than them at the end of 2024 for a better car. Early 2020s in general was an awful time to be a car buyer.
    - dzhiurgis 1y ago
      I bought 2023 April after first price drops and EV rebate at its highest point (this is in NZ). I was looking at used ones which were about 3-4k usd cheaper at the time. After some timewaster I figured savings are not worth it and bought new. Tesla did another drop next week and refunded me about 2k USD without me realising. Fast forward to now it’s worth about 30% less but thats what I saved on fuel.
xp84 1y ago
> This absolutely destroyed the resale value for people who paid near the high point This is definitely true, but it's funny how much hand-wringing is being done about those people, who already bought EVs and really don't need to replace them like 3-4 years into ownership (they might want to for vanity, but if so they're either rich or love wasting money). "Destroyed resale value" is just another word for "provided amazing prices to a great used market." These "destroyed value" cars are great almost-new cars available at prices competitive with gas cars. In California with horrific electric rates, if I charge my used EV at the "non-peak" time it's like buying gas for my old car at 2.50/gal. In places with much better rates it's more like $1 a gallon. And these are cars that are now available for the same price as a comparable gas car. I'd say this is a huge win for everyone.
- rootusrootus 1y ago
  Well yes, it's a matter of perspective, and good used prices are better for society as a whole. You're welcome :). Someone who buys my Model 3 for 35 grand less than I paid for it a few years ago is getting a pretty good deal. But despite my wife wanting something in a different form factor, we're keeping the Model 3 a while longer because selling it would realize what is just a theoretical loss right now. It's just psychological, but it definitely influences our choices.
  - deleted 1y ago
    [deleted]
  - pushkar2911 1y ago
    I would personally run that model 3 into the ground.
- highwaylights 1y ago
  In the UK the price of gas is currently around the equivalent of $7/gal at the cheapest due to how it’s taxed here and the absence of a subsidy. Electricity is around 18c/kwh overnight. I can’t understand how gas cars get sold here anymore at all.
streptomycin 1y ago
Yeah, this article says the 2023 price of a new Model Y was $48k, and then in 2024 it was worth only $33k used. But in 2024 I bought a brand new Model Y for about $33k, after factoring in all the incentives/rebates. So if anything that $33k used price sounds high. Reality is, prices came down a lot, and also depending on how incentives/rebates are factored in, the "sale price" might be fiction. Same with other brands too. Back then you saw some companies like Hyundai claiming their EVs were really worth like $60k MSRP, and then turning around and leasing them for $300/month with $0 down. In some states people were leasing brand new EVs for $100/month with $0 down, or less. Now with the federal rebate gone and states removing at least some of their incentives, the numbers might start to look a little more normal.

deleted 1y ago

[deleted]

thenobsta 1y ago

This got me curious about tesla prices over time. Turns out someone has a nice spreadsheet of this. I don't know about the accuracy, but it's a cool spreadsheet. https://docs.google.com/spreadsheets/d/1F5IQOynIawoXiJPVarLDgPQDJAdzY8b5Vamw-Vf3eSY/edit?usp=sharing https://docs.google.com/spreadsheets/d/1F5IQOynIawoXiJPVarLD...

lotsofpulp 1y ago

> and Tesla started slashing the prices in 2024 Jan 2023 was when prices were slashed, and the $7,500 tax credit came in.

rootusrootus 1y ago
You're right, I was off by a year. We have a 2023, but we bought it in December 2022. Not at the high point, exactly, but still before a big slash in prices, and before the credit. We mistakenly thought the credit wasn't going to happen. If I sell the car anytime soon it will definitely be the most I've ever "lost" on a car purchase. Oh well.
- lotsofpulp 1y ago
  That's unfortunate. I also had a few cousins buy a Tesla just before the price changes and credit happened. I paid $25k or so less than them at the end of 2024 for a better car. Early 2020s in general was an awful time to be a car buyer.
  - dzhiurgis 1y ago
    I bought 2023 April after first price drops and EV rebate at its highest point (this is in NZ). I was looking at used ones which were about 3-4k usd cheaper at the time. After some timewaster I figured savings are not worth it and bought new. Tesla did another drop next week and refunded me about 2k USD without me realising. Fast forward to now it’s worth about 30% less but thats what I saved on fuel.

xp84 1y ago

> This absolutely destroyed the resale value for people who paid near the high point This is definitely true, but it's funny how much hand-wringing is being done about those people, who already bought EVs and really don't need to replace them like 3-4 years into ownership (they might want to for vanity, but if so they're either rich or love wasting money). "Destroyed resale value" is just another word for "provided amazing prices to a great used market." These "destroyed value" cars are great almost-new cars available at prices competitive with gas cars. In California with horrific electric rates, if I charge my used EV at the "non-peak" time it's like buying gas for my old car at 2.50/gal. In places with much better rates it's more like $1 a gallon. And these are cars that are now available for the same price as a comparable gas car. I'd say this is a huge win for everyone.

rootusrootus 1y ago
Well yes, it's a matter of perspective, and good used prices are better for society as a whole. You're welcome :). Someone who buys my Model 3 for 35 grand less than I paid for it a few years ago is getting a pretty good deal. But despite my wife wanting something in a different form factor, we're keeping the Model 3 a while longer because selling it would realize what is just a theoretical loss right now. It's just psychological, but it definitely influences our choices.
- deleted 1y ago
  [deleted]
- pushkar2911 1y ago
  I would personally run that model 3 into the ground.
highwaylights 1y ago
In the UK the price of gas is currently around the equivalent of $7/gal at the cheapest due to how it’s taxed here and the absence of a subsidy. Electricity is around 18c/kwh overnight. I can’t understand how gas cars get sold here anymore at all.

streptomycin 1y ago

Yeah, this article says the 2023 price of a new Model Y was $48k, and then in 2024 it was worth only $33k used. But in 2024 I bought a brand new Model Y for about $33k, after factoring in all the incentives/rebates. So if anything that $33k used price sounds high. Reality is, prices came down a lot, and also depending on how incentives/rebates are factored in, the "sale price" might be fiction. Same with other brands too. Back then you saw some companies like Hyundai claiming their EVs were really worth like $60k MSRP, and then turning around and leasing them for $300/month with $0 down. In some states people were leasing brand new EVs for $100/month with $0 down, or less. Now with the federal rebate gone and states removing at least some of their incentives, the numbers might start to look a little more normal.