- Second-hand Tesla cars have depreciated significantly due to price cuts for new models.
- A new Model 3 with a long-range battery bought in January 2022 in the UK for £57,435 is forecast to fall 46% to £31,300 by January 2024.
- The depreciation of Tesla cars has been greater than rival electric brands.
- The steeper depreciation in Tesla models potentially makes its cars more expensive in financing deals than rivals.
- Tesla’s second-hand sales operation is struggling, meaning cars are often sold too cheaply.
Tesla cars lose value faster than rival models after price cuts, data shows
Reductions have caused second-hand vehicles to depreciate more steeply
Peter Campbell
