Used Car Prices: Tesla And Porsche Taycan Are The Biggest Losers

In an interview, the co-founder of Apple scolds about the e-car manufacturer – and does not save with sharp criticism of Elon Musk

Used Car Prices: Tesla And Porsche Taycan Are The Biggest Losers

A new study reveals used EV prices have dropped by 15.1% compared to last year. Prices for used Tesla EVs plummeted 13.6% over 2024 to an average of $32,198. On a model level, Porsche’s Taycan saw the steepest drop , losing 26.5% of its value. If you’re in the market for a used car, there’s some good news as a study found the average price of a 1- to 5-year-old used vehicle is $31,257. That’s down $239 from a year ago, which equates to a modest …

Used Tesla Prices Are Dropping. Are Elon Musk's Politics to Blame?

Although EV depreciation is normal, used Tesla prices have fallen more than $2,000 since the presidential election in November 2024.

In the United States, finding a Model 3 for less than $15,000 is no longer so difficult. In France, declining sales, the replacement of the model range, and a likely drop in new car prices will also weigh heavily on used car sales.

The Tesla Model Y and Model 3 were the biggest fallers in a recent price comparison.

Tesla used car prices are cratering– Is Good News for Buyers?

If you bought a Tesla in the past couple of years, you might want to avoid checking its resale value. Why? Because Tesla prices are sinking like a rock in water. According to recent data from CarGurus, the best-selling Tesla Model Y has dropped in value by a staggering $6,000 since March 2024 alone. And if we go back to 2023, the drop is an eye-watering $20,000. Yes, you read that right. A once-premium electric vehicle is now selling at bargain-…