April 22, 2023
YOUR NEXT CAR WILL BE A VOLT:
ONE OF TESLA'S MOST POPULAR MODELS JUST DROPPED BY OVER $11,000: 'THEY ARE ONLY GOING TO FALL EVEN LOWER' (Jeremiah BudinApril 22, 2023, The Cool Down)
It seems that a price war really is brewing in the EV market. And that's a great thing for consumers.It's not just new Teslas that have seen a drop in price. The price war has implications for the secondary market as well. Electrek is now reporting that prices for a used Tesla Model 3 are down 21.5% from last year's peak.The average Tesla Model 3 is now selling for $41,337, down $11,302 over the past six months.This price drop is reflected across the entire EV secondary market, although no car has seen a bigger drop than the Model 3. According to Electrek, a used Nissan LEAF is down 12% from $25,734, while a used Toyota Prius Prime is down 11.5% from $29,856.
The transition is simple economics.
Posted by Orrin Judd at April 22, 2023 7:12 AM