The price of new Teslas has skyrocketed, the price of used Tesla models has skyrocketed
The price of used Tesla electric cars has skyrocketed according to new report from battery analysis company Recurrent.
The average price of most used electric vehicle models has increased significantly in 2021 but Recurrent, which provides battery health reports for electric vehicles, seems to connect the increase in new Tesla car prices with the used Tesla car price increase.
The average price for used Tesla electric vehicles has increased by as much as $1,000 a month compared to 2021, according to Recurrent. During the same time period, a series of rallies saw the base price of the Model 3 an extra $8,000 from February to November 2021.
New and Used Tesla prices as of April 2021 – Update
Tesla also removed the base Model Y Standard Range from that line, and, along with other price hikes, effectively increased the base price by $17,000 to just over $60,000. That means the starting price of what is believed to be one of Tesla’s mass-market models today. topped the Model W’s initial base price since 2012.
Speaking of the Model S, the lineup reshuffle has effectively increased the base price from about $70,000 in fall 2020 to $96,190 today, Recurrent notes. The report says the Model X will also increase its price by $5,000 in 2021.
The report argues that these price spikes, coupled with long wait times for new vehicles, are boosting demand for used Teslas. It should be noted, however, that some of these changes are relatively recent and it may be too early to gauge their impact on the used car market. It was Tesla who suggested In its third-quarter 2021 earnings report, price increases are a response of supply and demand.
Simplified production for Model Y compared to Model 3 – from Tesla Q1 2020 report
Tesla plans to ramp up production at new plants in Texas and Germany in 2022, which could help alleviate supply problems, the report notes. Base models are also expected to begin transitioning to lithium iron phosphate (LFP) battery chemistry, which could also help stabilize prices, according to Recurrent.
Tesla is started offering LFP . versions of the Model 3 in North America, and a version of the Model Y is expected to follow. But the price has yet to settle anywhere near the original Model 3 Standard Range’s $35,000 target, or $40,200 for Initial basis Model Y (including destination).
