Tesla Model S pre-owned resale values are going up
Used cars have been exploding in value in recent months, a trend explained by the limited number of new cars available on the market because of the global microprocessor shortage. One particular used car, the Tesla Model S, appears to be doing even better than its peers.
The news comes from InsideEVs which received data from Capital One’s Auto Learning Center. It appears that the Tesla Model S preserves a larger percentage of its original value compared to competitors from Audi, BMW, and Lexus. The data compiled suggests that a Tesla Model S from the 2012 to 2015 generation retains 38% of its original value compared to around 22% for similar models.
The resale value of Tesla vehicles has been a subject of debate for some time. Because the brand is relatively new still, having introduced its first model 10 years ago, and because it only reached significant sales volumes a few years ago, there just isn’t a lot of data to compile a definitive resale value guide for Tesla vehicles.
That said, the huge demand for Tesla which is running into production delays of its own like every other automaker means that pre-owned vehicles are seeing a bump in value.
Moreover, the reliability and long-term durability data on Tesla vehicles suggests that their reliability is nothing to worry about even after 5 years. The next few years will be even more telling when it comes to resale value as we will begin to see more and more Tesla Model 3 sedans and Tesla Model Y SUVs on the pre-owned market. For now, however, it appears that anybody looking for a Tesla vehicle today on the pre-owned market will have to pay a premium.