[Alpha Biz= Kim Jisun] Used Tesla vehicle prices are falling at a significantly faster pace than other electric vehicle (EV) brands in both the U.S. and the U.K., according to a report published Tuesday by the Financial Times. The decline is attributed to a surge of previously leased Teslas returning to the market, resulting in an oversupply. Experts also point to growing public disapproval of Tesla CEO Elon Musk as a contributing factor.



Citing data from online automotive platforms CarGurus and AutoTrader, the FT reported that in March, the average price of used Tesla cars fell by 7% year-on-year in the U.S. and 15% in the U.K. By comparison, average prices for other used EVs dropped by only 1.5% in the U.S. and 10% in the U.K. over the same period.



In the U.S., the trend is particularly noticeable. Auto research site Edmunds noted that a growing number of Teslas produced after 2017 are being returned to dealerships, with Teslas accounting for 1.4% of all trade-ins in mid-March—up sharply from just 0.4% a year earlier.



Industry analysts say the flood of post-lease vehicles has saturated the used EV market, putting downward pressure on prices. However, some also suggest that Elon Musk’s increasingly polarizing public image may be deterring potential buyers, further accelerating the depreciation of Tesla vehicles.



Despite the brand's strong technological reputation, the steep decline in resale value may present challenges for Tesla's future positioning in both new and used car markets.

 

 

 

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