Bad News For Tesla Owners
Tesla owners have seen the value of their cars drop dramatically in the past 12 months. According to a study by iSeeCars.com, the value drop across all Tesla models landed at more than $3,500 with the Model S seeing the most depreciation of any car over the last year. T
Three other Tesla models (the Y, 3, and X) posted smaller drops but still landed in the top 20.
Car Brands With the Biggest Year-over-Year Price Drops |
|---|
Tesla: -$3,541 (-10.1%) |
Chrysler: -$2,411 (-8.9%) |
Maserati: -$4,106 (-8.6%) |
Genesis: -$2,339 (-6.5%) |
Dodge: -$1,638 (-4.7%) |
Buick: -$1,262 (-4.6%) |
Chevrolet: -$1,263 (-3.9%) |
Nissan: -$355 (-1.5%) |
Audi: -$404 (-1.1%) |
Volvo: -$325 (-0.9%) |
“Tesla has been one of the most profitable automakers in the world in recent years, but the ongoing drop in its new and used vehicle values, along with sagging sales, will be a drag on revenue and profit,” said Karl Brauer, iSeeCars Executive Analyst. While that’s bad news for current Tesla owners, it means there might be some deals out there on the used market for buyers to consider.
As a brand, Tesla saw the biggest drop in value by percentage, but due to the high purchase price of Maserati’s lineup, owners of the European brand’s products lost the largest amount in pure dollars. Chrysler and Dodge, which fall under the same Stellantis umbrella as Maserati, are also in the top (or should we say bottom?) 10. Five of the top 10 are American brands, while three are European, two are Korean, and one is Japanese.
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Growing up in a family obsessed with performance and as the son of an automotive engineer, Jeremy Korzeniewski has spent his entire life as a car enthusiast. Also an avid motorcyclist, Jeremy has spent the last two decades writing about the transportation industry and providing insights to many of the largest automotive publications in the world.
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All because of domestic terrorism
Or, possibly, Domestic Nazism…