Used Teslas Sell Quicker Than Rivals

MAY 3 2017 BY ERIC LOVEDAY 11

Used Teslas sell quickly and at near listed price.

Older Tesla Model S

That’s the takeaway from results published by car-shopping site Autolist.

Autolist conducted a survey that compared the Tesla Model S to other vehicles on the market. Autolist found that, on the average, a used Model S spends less time on the market than other vehicles. As Market Watch reports:

“Used Model S sedans had the briefest time on the market of all vehicles included in the survey, taking, on average, 87 days to sell. That was about 5% quicker than the average for vehicles in the model’s peer group, which included the Audi A7, the Porsche Panamera, the BMW 6 Series, the Mercedes-Benz CLS and the Lexus LS 460.”

Turns out that used Model S EVs sell quicker than top sellers like the Ford F-150 and Chevy Malibu, too.

There’s more to the story than just days on the market though.

According to Autolist, the Model S listing prices were “between 3% and 5% above their peer-group average for the past year,” after accounting for price differences among the models. This means that the Model S actually sells for over what Autolist believes is fair market value. Alex Klein, Autolist.com’s vice president of data science, stated:

“We would expect top-performing vehicles in a peer group to have prices [about] 2% above our adjusted expectations for the segment. But 3% to 5% above, and maintaining that level of performance over the past year? That’s surprising.”

What this all means is that used Teslas are hot. They don’t stay available for long and they sell at a price above expectations.

Source: Autolist via MarketWatch

Categories: Tesla

Tags: , ,

Leave a Reply

11 Comments on "Used Teslas Sell Quicker Than Rivals"

avatar
newest oldest most voted
ffbj
Guest
ffbj

So this puts the lie to ev detractors who categorically state that evs do not hold their value.

Mark.ca
Guest
Mark.ca

Is it a lie when only one brand out of the entire ev market hold their value well?

agzand
Guest
agzand

It is a function of demand and supply. When Model 3 is out, Model S used prices will take a hit. The reason for current good resale values is lack of competition from Tesla cheaper models and from other companies.

MTN Ranger
Guest
MTN Ranger

Honestly, only Teslas hold their value well.

Marciemarc
Guest

And in a few years time, also other EV’s will. When people start to realize they can’t enter the cities anymore with their polluting cars, they will want to buy a 2nd hand EV. When demand starts booming, pricing will go up. That’s when I’m going to sell my i3, and if I don’t get a reasonable price, I will drive on with my car. Every year longer driven is money gained !

Mark.ca
Guest
Mark.ca

You will keep driving then. In 10 years from now 300 mile range will be the norm while your car will have maybe 50 miles left….good luck selling that at a decent price.

unlucky
Guest
unlucky

Tesla has a massive advantage on resale value when you speak using “peer group average”. The high end German cars have notoriously poor resale value because their maintenance costs are so high.

Paul K
Guest
Paul K

I expect my 30kwh Leaf to have a terrible resale value in 3 years and I knew that going into it. I use it as a business vehicle and will run the depreciation through the business. Then I will sell it at trade in value to a family member and upgrade to a vehicle with a 50 or 60kwh capacity. The Leaf is a great car but I will be looking at who offers the best battery replacement options if and when the time comes.

Hang on Sloopy
Guest
Hang on Sloopy

Other EVs do poorly in part due to the mistakes Nissan made with their early batteries and because to this day, all except for the Models S/X remain short range commuter cars. Any loss in range makes them very unattractive.

The Tesla models have the supercharger networks which continues to improve and the batteries hold a greater share of their already industry leading range meaning that the cars would be a compelling buy with 100,000 miles on them just as they are with 0 miles.

We have 27,000 miles on our Model S and I’ve considered whether to buy a used Leaf as a second car to drive to/from the train, but then I realize that’s all the car could ever do. So it’s a no-go, even if the costs dropped even more than the already huge depreciation those cars have seen.

Hang on Sloopy
Guest
Hang on Sloopy

To illustrate the point, my commute currently is about 60 miles per day. I can charge my car to 90% and then safely drive it three days (including errand running) without having to recharge. And if I want to take a long drive, which I’ve done numerous times, the supercharger network continues to improve. The map showing projected sites indicates on the longest trip I’ve taken the charger density will double meaning I can go longer in between charging stops so I don’t have to stop with 80 miles of range just because my next charging option is 120 miles away. And it allows more organic stops – we can stop when we’re hungry, not when the car says we have to stop and if we have a need for a bathroom stop 60 miles after we just ate, we can do that and get another quick 60-70 miles of range while that happens.

Tom
Guest
Tom

As a guy who teaches stats for a living, that is one crazy bad/uninformative graph. Perhaps graph titles and axes that relate to the information plotted would be better rather than requiring a whole paragraph to explain a simple line.