Used Tesla prices continue to sink as demand softens and inventory swells
A week after Tesla announced it would reduce its full-time workforce by 7%, the company has reportedly lowered daily production targets of its Model S and Model X electric vehicles. Analysts cite reduced demand for Tesla cars, and markets responded with an almost 4% drop in share price on Wednesday.
Demand for used Teslas appears to be on the wane as well, as increased inventory at used-car dealer sites has swelled. This influx of available has pushed prices for used Teslas down as we've observed in the past, hitting some of their lowest levels yet.
It wasn't until late 2018 that used car sites CarMax and Carvana reported Tesla inventory. But as of this fall and into winter 2019, it looks as though Teslas are waiting to be snatched up a bit longer than in the past.
Two Teslas, shown above by Vehicle Identification Number (VIN) above, appear to have sat in CarMax's inventory for extended periods to the point that their relative prices were reduced by $4,000 and $16,000.
The pricing trend for Teslas appears to be consistent at several major used-car dealers, including Cars.com, Carvana, and Vroom.
As Teslas vehicles age and inventory at used dealers swells, it's only natural that prices would drop. Add to that a large field of incoming competition from VW, Ford, GM, Rivian, Nissan, BMW, and others, and it's clear to see that as consumers begin to have more choices in the electric vehicle field, Tesla will no longer be able to demand higher prices, new or used.