The market for used electric vehicles is a little complicated compared to the equivalent for their gas-powered counterparts. A lot of that has to do with advances in battery technology — there can be a big difference in range between two different years of the same EV model. That depreciation has been noted by a number of outside observers. But now, there’s a more specific category of used EVs that are facing a significant sales challenge: previously-owned Teslas.
Reporting at Electrek, Fred Lambert notes that the market for used Teslas began diverging from the rest of the used car market earlier this year. While both had been in a slump when 2025 began, the overall market has been on an upswing since March. For Teslas, however, this boost has not taken place. Calling the phenomenon “quite exceptional,” Lambert observed that used Teslas are now cheaper than the average used car.
This isn’t necessarily a unique phenomenon. Elon Musk’s government work and increasingly controversial comments and hand gestures have led to a backlash for the automaker, which had the effect of boosting some of its rivals earlier in the year.
Tesla’s Affordable EV Might Look a Little Familiar
An earnings call provided more information on their plansElectrek’s reporting notes that used Model Y prices are falling faster than several of Tesla’s other models, which is affecting the statistics for the brand as a whole. Interestingly, used Cybertruck sales seem to be picking up some steam, contrasting with sales of new Cybertrucks. There is one upside for people buying used Teslas, besides the cost: they’re a lot less likely to be stolen than most other vehicles.
More Like This
This article appeared in an InsideHook newsletter. Sign up for free to get more on travel, wellness, style, drinking, and culture.