Autovista Group, a UK-based automotive analytics company, has given the Tesla Model Y a Residual Value (RV) Award in the compact and large battery electric vehicle (BEV) SUV category. The Model Y was Europe’s best-selling vehicle in Q1 2023 and it continues to get small accolades to its name.
RV is how much a vehicle is worth after a certain amount of time and mileage. Autovista’s standard residual value scenario is 36 months and 40,000 miles (60,000 kilometers). To calculate the rankings, the company divided the RV percentage – relative to retained list price – by the average RV percentage in the specific category.
It analyzed used cars’ data from February to April 2023, and vehicles with “extremely high or low horsepower and price points” were excluded.
The group explained that Model Y’s strong value retention was the result of constant enhancements through engineering and its ability to receive over-the-air (OTA) upgrades. Moreover, the Model Y’s highest overall score at the Euro NCAP between 2020 and 2022 made it more desirable.
Gallery: 2022 Tesla Model Y (MIG) Euro NCAP Crash Tests
Experts in the group analyzed data from 17 European nations to arrive at this conclusion. The Model Y retained 55 percent of its value in the UK, 67 percent in France, 64 percent in Germany, and as much as 74 percent in Hungary after three years and 40,000 miles.
After roughly 200,000 miles (320,000 km), Tesla batteries lose just 12 percent of their capacity, a Tesla spokesperson said. Although take this claim with a pinch of salt because battery degradation depends on a variety of factors, including driving style, temperatures, and charging patterns among others.
Jose Pontes, data director at EV-volumes.com, said, “It may not be as eye-catching as the Model 3 or as comfortable as the Model S, and its interior might be considered spartan given its price, but it provides the usual Tesla qualities of efficiency, range, and dependability.”
The Skoda Enyaq was second best on the list, followed by the Audi Q4 E-Tron Sportback, Volvo EX90, and Volkswagen ID.4. The Enyaq got a top-five ranking in nine of the 17 markets examined. “SUVs dominate the BEV market and there were many vehicles competing for the title,” said Christof Engelskirchen, chief economist at Autovista Group.
The European Model Y crossover is manufactured at the Tesla Gigafactory Berlin-Brandenburg in Germany, and the continent also gets imported versions from Giga Shanghai in China.