Tesla Model 3: 2nd Best Resale Among All Cars, Tops Segment & All Classes
No matter how you frame it, the Tesla Model 3 has better resale value than all rivals.
Let’s start by saying the Kelley Blue Book (KBB) awarded the Tesla Model 3 for best resale value among all electric cars. Its larger sibling, the Tesla Model X, grabbed the second position within the same segment. However, the electric car segment is quite small, so while this is impressive, it isn’t saying a lot Interestingly, KBB ranked these cars in the electric car category, but didn’t talk about how they compare overall or in their respective classes.
The @Tesla #Model3 has a cultural magic and desirability about it that made people willing to wait months and even years to own one — that’s how you hold on to your resale value over time. #KBBBestResaleValue
— Kelley Blue Book (@KelleyBlueBook) January 24, 2019
According to KBB, the resale value of a Model 3 after 36 months comes in at 69.3 percent of the original price. After 60 months, this number drops to 48.7 percent. Tesla Model X percentages are 56.7 and 34.3 over the same time periods.
The overall winner among all vehicles is the 2019 Toyota Tacoma, which is a compact pickup truck and doesn’t compare with either Tesla vehicle. However, KBB says its estimated 36-month resale value is 69.4, only one-tenth of a percent better than the Model 3. Next in line overall is the 2019 Jeep Wrangler, at 66.5 percent. So, while KBB doesn’t point it out, over 36 months, the Model 3 is the second-place car in terms of resale value among all vehicles on the U.S. market.
What if the Tesla Model 3 and Model X were matched up with other vehicles in their classes, rather than divided into a solitary electric car category? Looking closely at the numbers provides a very interesting answer to this question.
The Model 3 is a classified as midsize car or compact car, depending on which agency or publication you rely on. It also fits in the luxury car segment, although some would argue that it’s not a luxury car. At any rate, what were the vehicles in those segments with the top resale values and how did they fare?
Best Compact Car – 2019 Honda Civic
- 36 months: 55.5%
- 60 months: 41.2%
Best Luxury Car – 2019 Audi A7
- 36 months: 47.3%
- 60 months: 32.3%
Best Entry-Level Luxury Car – 2019 Lexus RC
- 36 months: 54.5%
- 60 months: 38.5%
Best Mid-Size Car – 2019 Subaru Legacy
- 36 months: 51.8%
- 60 months: 38.4%
As you can clearly see, the Model 3 wins by a long shot in all the above categories. If you look at Model X resale value in comparison to others in categories like Best Full-Size SUV/Crossover, Best Mid-Size SUV/Crossover, Best Luxury Mid-Size SUV/Crossover, and Best Luxury Full-Size SUV/Crossover, it fares well against every winner, especially with its 36-month figure.
There is a lot to digest in KBB’s resale value awards. Follow the link (2) below if you want to crunch some more numbers and form your own conclusions.
If you’re interested in purchasing a used electric car, check out our sister site MYEV.com.