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Tesla inventory los angels12/11/2023 Note that electric cars, with a 1.8 percent drop, are only slightly ahead of the industry average, further illustrating Tesla’s substantial drop in value versus the overall EV market. Looking beyond Tesla, prices of alternative fuel vehicles dropped faster than traditional gasoline models in the past month, with plug-in hybrids leading the decline at 3.8 percent. If reaching 60 miles per hour in a quick 2 something seconds is what drives you, you need one of these Tesla titans in your driveway. The pre-owned Tesla Model S is not for the faint of heart. Non-Traditional/Alternative Fuel Vehicles Dropping Faster than Internal Combustion Cars Lightning fast and tons of fun, the used Tesla Model S inventory comes and goes quickly. It’s worth noting that search activity for Teslas skyrocketed in this same timeframe, up 21.3 percent against an average of 6.5 percent for all used cars on. Change in Average Price of Used Tesla Models Before and After Jan 12th Price Drop Announcement – iSeeCars Study These drops manifested as price reductions of $2,354 on the Model 3, $2,816 on the Model Y, $3,370 on the Model X, and $4,626 on the Model S, all in less than a month. Over that period, Tesla lost an accumulated 5.7 billion, even as its stock soared and Musk became one of the richest humans on the planet his net worth is estimated at 275 billion. Used Model 3 values led the drop, down 5.2 percent after the price reductions, while used Model X prices declined the least, down 3.9 percent. Comparing that to used Tesla prices between January 15th and January 31st, immediately after the announcement, iSeeCars confirmed a 4.8 percent drop in Tesla values. How have these cuts in new Tesla prices impacted used Tesla values? iSeeCars analyzed Tesla used car prices between January 3rd and January 11th, the day before the price cuts were announced. Used Tesla Values Take a Big Hit in January These latest price cuts were done to better align Tesla’s pricing with recent government legislation, though falling sales volume and rising inventory levels, across the industry and for Tesla specifically, suggest these cuts were also made to ensure new Teslas continue to move in a softening economy. These declines in Tesla values only accelerated when the company announced substantial price reductions for new Tesla models on January 13th, 2023. Plug-in hybrid vehicles are also declining in value at an accelerated rate.This compares to a 1.5 percent drop across all late-year used cars in the same time period.The average late-year Tesla used car value has dropped 4.8 percent in just the past month.Used Tesla Model 3 prices, for example, were down 16.8 percent between September and December 2022. But even as the values for used cars are dropping across the board, Tesla models experienced some of the biggest price drops in recent months. ( iSeeCars) - As noted in our recent used car pricing report, used car values are consistently declining for the first time in over two years.
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