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The Average Price Of A Used Tesla Is Down $18,000 From 6 Months Ago

Teslas have never been more affordable than now.

Model 3

Ben O'Hare Ben O'Hare

By: Ben O'Hare

Jan 29, 2023 at 4:49pm ET

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As you may be aware, used Tesla prices have plummeted in recent months. With new Teslas getting significant price cuts (and having wait times of only a few weeks) it's no surprise that used cars are rapidly dropping in value. That said, the sheer amount pre-owned Teslas have fallen by is still shocking.  

According to a new survey by CarGurus, the average price of a used Tesla has fallen from $67,915 back in July 2022 to $49,967 today. That's an $18,000 (or 26%) drop. 

The average price of a used Model 3 is now $40,386 meanwhile the mean price of a used Y is $54,930. As for the S and X, they have average used prices of $53,304 and $71,779 respectively.

You can now get a high-mileage 2017/18 Model 3 for less than $25,000. Meanwhile, 2019 Model 3s with under 60,000 miles can be had for around $30,000. Without a doubt, no other used electric car offers similar levels of range, tech, and performance for the money. 

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Prices for Tesla's most popular vehicle, the Model Y, remain high for now with only a handful of listings under $40,000. Given it's now eligible for the $7,500 tax credit, if you're interested in a Model Y your best bet is probably to buy a new one.

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Tesla's massive January price cuts saw used prices really collapse. Although Tesla cited economies of scale as one of the main reasons for the price drops, facelifted versions of the Model 3 and Y are also expected to be revealed at some stage in the coming months.

Source: CarGurus via Electrek

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