How Much is My Tesla Valued? A Handbook for Sellers After Price Declines.
*Last revision on 10/7/2023, accounting for Tesla’s latest pricing adjustments and subsequent to the global unveiling of the Model 3 refresh/Model Y Standard Range RWD.
The electric vehicle realm recently felt a seismic shift with Tesla’s unparalleled price reduction across their complete range…
With the extent of reductions oscillating between 17% and 35% (Tesla’s pricing strategy remains fluid, yet we’re always abreast of it!), numerous individuals who invested in a Tesla in 2022, be it new or pre-owned, are now grappling with bewilderment and contemplating their next steps.
Regular conversations with our team at Find My Electric would have given patrons an inkling of this impending shift. For those not looped in, this price recalibration might have felt unexpected.
The barrage of questions we’ve been facing includes:
– How is my Tesla valued post the recent price downturn?
– To what degree have pre-owned Tesla evaluations been affected following the cut?– What’s the optimal way to ensure maximum returns on my Tesla sale now?
– Should I offload my Tesla immediately or play the waiting game?
– Is there a possibility of a surge in Tesla prices, be it new or used, in the near future?
Being the top-rated Tesla platform online, our commitment is to steer you right! Our grasp on the used Tesla ecosystem is unparalleled, leading us to curate this guide that responds to these concerns and more. Let’s navigate this together!
To What Extent Have Tesla Prices Decreased?
We’ve compiled a concise table below to detail the specifics of the latest Tesla price reduction:
Tesla Model |
Old Price |
New Price |
Difference (Dollars) |
Percent Change |
|---|---|---|---|---|
| Model 3 Standard Range | $46,990 | $38,990 | -$8,000 | -17% |
| Model 3 Long Range | $57,990 | $45,990 | -$12,000 | -21% |
| Model 3 Performance | $62,990 | $50,990 | -$12,000 | -19% |
| Model Y Long Range | $65,990 | $48,490 | -$17,500 | -27% |
| Model Y Performance | $69,990 | $52,490 | -$17,500 | -25% |
| Model S Long Range | $104,990 | $74,990 | -$30,000 | -29% |
| Model S Plaid | $135,990 | $89,990 | -$46,000 | -34% |
| Model X Long Range | $120,990 | $79,990 | -$41,000 | -34% |
| Model X Plaid | $138,990 | $89,990 | -$49,000 | -35% |
*It’s important to highlight that the Model Y Base AWD isn’t represented in the chart above, given its release on 4/7/2023, without experiencing any price reductions as of yet. Additionally, the Model S/X Standard Range AWD models are absent since they launched on 8/14/2023 and were phased out by 9/1/2023.
The price trimming is notably significant for the Model Y, considering its earlier price point…
What Price Should I Set for My Pre-Owned Tesla?
This is the million-dollar question. The answer, however, varies based on several aspects of what you’re offering and the market landscape.
Here are some pivotal points to ponder:
– For those offloading a recent Tesla model (spanning 2021-2023), aligning your asking price closely with Tesla’s current pricing (as outlined earlier) is crucial; otherwise, potential buyers might overlook your offer.
– Even if you’re marketing an older Tesla model, say a 2016 Model S, one must recognize the appeal of a brand-new Tesla at a similar price, complete with its intact warranty. Thus, remaining competitive with Tesla’s pricing is still essential.
– The value of EAP and FSD in the second-hand market significantly undercuts what Tesla pegs them at. (Further insights on this topic can be found here.)
– Overpricing can deter EV enthusiasts; they tend to either bypass negotiations altogether or might bypass your listing.
Simply navigate to our Listings Page and activate the “Include Sold Listings” option to kickstart your assessment.
However, a word of caution: listing prices from spring 2022 are likely inflated in today’s context. Hence, prices from more recent sales give a clearer picture of the current market trend.
