Used Car Values !!

JKenH

All the Model 3 SR and LR seem to have disappeared from the Tesla used/CPO listings. Another price adjustment on the way? Up or down? 

onthemend88

We have purchased our first ever EV due to the drop in prices and it being convenient for us to own an EV. 

Picking up a 20 plate Hyundai Iconiq Premium with 10,000 miles directly from a Hyundai dealership for £16500. They have also contributed £500 towards a home charging point and have included GAP cover free of charge. 

JKenH

JKenH said:

All the Model 3 SR and LR seem to have disappeared from the Tesla used/CPO listings. Another price adjustment on the way? Up or down? 

Tesla have reinstated the used Model 3 SR and LR listings that all disappeared yesterday but the cheapest is now £27,500, that’s £5k more than yesterday. The cheapest Long Range is now £30,800. 

Tesla are playing with the market. 

JKenH

Dealers avoid used EVs as values become 'too volatile'

Article from AM Online.

Recent falls in trade values for electric vehicles (EVs) has deterred almost two-thirds of dealers from stocking them, according to research from Startline.

“This is understandable. Some popular models of EV have seen a double-digit percentage fall in values month on month and, for dealers, this can translate into potential losses of thousands of pounds on every vehicle. Not many dealers can afford to take those risks.“

https://www.am-online.com/news/used-cars/2023/03/13/dealers-avod-used-evs-as-values-become-too-volatile

JKenH

JKenH said:

JKenH said:

All the Model 3 SR and LR seem to have disappeared from the Tesla used/CPO listings. Another price adjustment on the way? Up or down? 

Tesla have reinstated the used Model 3 SR and LR listings that all disappeared yesterday but the cheapest is now £27,500, that’s £5k more than yesterday. The cheapest Long Range is now £30,800. 

Tesla are playing with the market. 

Today Tesla have CPO/used prices from £22,400. On 7 March this car was £22,200. On 9 March it was £28,100 and today it is down again to £22,400. 

https://tesla-info.com/car/GB-5YJ3F7EA1KF501554

For just £1k more a 2020 model with slightly lower mileage is available. 

The cheapest Long Range is £25,400. It was £37,500 on 8 February, £24,400 on 7 March and £33,000 on 9 March. 

https://tesla-info.com/car/GB-5YJ3F7EB8KF526217

Grumpy_chap

I must be looking in the wrong place.  Cheapest used LR I see is £32k
https://www.tesla.com/en_GB/inventory/used/m3?TRIM=LRAWD,PAWD&arrangeby=plh

JKenH

Grumpy_chap said:

I must be looking in the wrong place.  Cheapest used LR I see is £32k
https://www.tesla.com/en_GB/inventory/used/m3?TRIM=LRAWD,PAWD&arrangeby=plh

The one I referred to has now sold but there are several more stating from £27,600.

https://tesla-info.com/inventory/UK/

Edit: if you are looking in the Tesla GB website try using a different postcode such as NN3 9HX

Grumpy_chap

JKenH said:

Edit: if you are looking in the Tesla GB website try using a different postcode such as NN3 9HX

How does the post code function work on the Tesla website?
Without entering a post-code, it returns a nil / error result. 
I thought that by entering a post code and then selecting "all deliverable", you'd simply get everything offered up.

JKenH

Used car prices rose again in March, but overall rise ‘held back’ by plummeting used EV values – Auto Trader

Used car prices are showing no signs of slowing down despite plummeting used EV values acting as a dead weight, new data shows. 

Auto Trader’s Retail Price Index shows second-hand car prices jumped by 0.7 per cent compared to February – the third consecutive month for price growth.

The price rise would have been larger if it had not been for plummeting used electric car values, said the firm.

Moreover, the average price of a used car listed on the marketplace in March was £17,720 – up 2.3 per cent year-on-year.

https://cardealermagazine.co.uk/publish/used-car-prices-rose-again-in-march-but-overall-rise-held-back-by-plummeting-used-ev-values-auto-trader/281469

JKenH

Used EV values down ‘eyewatering’ 30% in past seven months

Average values for electric vehicles reduced for the seventh consecutive month in March, according analysis of March used car data carried out by cap hpi.

It said the average Live movement at three years was -5.4%, equivalent or £1,500 but this was better than January and February which saw decrease by 7.5% and 6.6% respectively.

“When tracking the average cumulative movement for EVs over the last seven months the figure is an eyewatering -29.9%, for context the movement for petrol vehicles over the same period of time is -1.4%.”

“We continued to see large reductions applied throughout March for other electric vehicles, with some of the largest movers being the Ford Mustang Mach-e, down c.8.5% or £2,575, the Renault Zoe down by 9% or c.£950, the Vauxhall Corsa Electric down c.8.5% or c.£1,100 and the Volkswagen Golf Electric down 10.5% or £1,400.

https://www.motortrader.com/motor-trader-news/automotive-news/used-ev-values-eyewatering-30-past-seven-months-29-03-2023