Tesla Resale Values Crash as Used Market Floods and Consumer Backlash Grows

Plummeting prices for used Teslas are driven by oversupply, CEO Elon Musk's controversies, and increasing competition in the EV market.

Used Tesla prices have dropped sharply, with some models losing up to $20,000 in value since 2023, far exceeding declines in other EV brands.
The average resale price of a Tesla is now $10,000 lower than that of other electric vehicles, according to CarGurus data.
A surplus of used Teslas, fueled by off-lease vehicles, rental fleet sell-offs, and consumer protests, is contributing to the steep price declines.
CEO Elon Musk's controversial actions and political stances have led some owners to sell their Teslas, further damaging the brand's image and resale market.
Despite the depreciation, low prices for used Teslas present an opportunity for buyers seeking affordable EVs with strong charging infrastructure.