Prices for used Teslas are falling faster than those of other electric vehicles in both the US and UK, but analysts suggest the trend is being driven more by a wave of ex-lease vehicles than by political backlash against Elon Musk, according to a report in the Financial Times.
In March, second-hand Tesla prices in the US fell 7% year-on-year, compared with a 1.5% drop across other electric car brands, according to CarGurus. In the UK, Tesla prices dropped 15%, versus a 10% decline for used EVs overall, Auto Trader data showed.
Car shopping site Edmunds also noted a rise in post-2017 Teslas being traded in at US dealerships, with the brand making up 1.4% of all trade-ins in mid-March, up from 0.4% a year earlier.