Hyundai DOWN, Tesla UP! What is going on with USED Tesla EV Prices?

0:00I reckon there's been, what would you say, maybe 50,000 negative articles about Tesla resale value? I mean, I'm not exaggerating, I don't think at all, because if you look at all the media organizations worldwide that print this negative stuff, don't buy Tesla, resale value is crashing. Tesla's, people are losing tens of thousands of dollars after they buy a Tesla and drive it on the showroom. There was so many for a while there, it was like a big fat to critique Tesla's. But the market is suddenly stabilised and not only has it stabilised, but the resale value of Tesla electric cars is beginning to actually go up. Hello my friends, welcome to the channel, I'm Sam Evans, you're watching the electric Viking. I should point out, I mean, part of the reason the resale value of Tesla vehicles went down is because Tesla reduced their prices significantly, which was really good because it forced everyone else to do the same thing. The industry was exceptionally critical of Tesla for doing this and it said Tesla is destroying

1:00resale values of, and really hurting its loyal fans, loyal fans, but I think probably the more important thing and the thing we didn't focus on was that this was enormously beneficial for everyone, for the entire planet, even China, like prices of EVs of the last three years have crashed. And I'm talking new prices, and this has brought on EV adoption, it's increased it. It's forced manufacturers to bring down their prices, forced Tesla to compete with these companies. It's forced Toyota to bring down its EV prices, forced everyone to do it. So as a result of this, it's been a big positive, however all of a sudden used Tesla prices are going up, whilst used EVs from other brands, not all of them, but many of them are going down. A new study shows that Tesla prices have increased 4.3% in the United States since the federal

2:02EV tax credit expired on the 30th of September, while nearly every other used electric vehicle has dropped 3.6%. That's a pretty big disparity if Tesla's gone up by 4.3, and everyone else has gone down by 3.6, and I bet an 8% swing in Tesla's favor, which is intriguing. Used EV market share has plunged 20% over the same period. Now guys, what do you think is the reason for this? Why is Tesla's used EV prices going up when everyone else is going down? I mean, I don't live in the US, I'm curious to know what you guys think is the reason for this happening. The data from IC cars, so this is not just an opinion piece, this is actually based on facts, has analyzed over 1.7 million used cars, and it shows an interesting picture of a 2-tier EV market emerging after we've seen the end of the EV tax credits.

3:03So Tesla holds pricing power, and everyone else is struggling a little bit, which is intriguing. Now I should also mention, the majority of the vehicles used in America are Tesla's. They make up well over 50% of all used EVs in the States. Need expert advice on what car to buy, what solar system to get, what home battery to get, or potentially for your business? You can get guys a 1-on-1 consultation directly with me, 60 minutes of tailored guidance. This might help you avoid making a huge mistake spending money when you shouldn't, or potentially save you a massive amount of money. Click the link in the description below because I can assist you, and why not? The link is in the description. Now interestingly, used EV prices actually have increased by 3.5% since September, but that's a little bit misleading because that includes Tesla.

4:03So if you take away Tesla, used EV prices have gone down. The average price, though, for a used EV now is 31,000 US dollars. So I mean, that's still like 50 grand in America. Not really all that cheap. If you look at the average used EV price in Australia, I think it'll be quite a bit lower than that. Now guys, let's have a look at some of the cars that have lost a lot of value, really intriguing. The Hyundai Kona EV lost 6.4% over the past. This study looked at the price fall since September, September to January. So within a space of three months, Kona lost 6.4%, and this is across a pretty big number. This is 1.15 million cars. Volkswagen ID 4 lost 6%. Kia Nero lost 5.2, Ford Mustang McKee, 5.1, Nissan Leaf, 4.6, Polestar 2, 1.9, not much of the loss for the Polestar 2.

5:04Tesla Model Y, up 1.3, Tesla Model 3, up 2.6, Porsche Taycan, up 4.1%, that seems surprising. Tesla Model S, up 8.5%, and the Model X, up 10.3%. Really fascinating numbers here. The one clear common denominator here is Ford and Kia and Volkswagen. Their used prices have gone down, and Tesla's have gone up. So, I don't profess to really know the reasons for this. I'm interested to know what you guys think. Let me know in the comments, and send me an email. Contact at the Electric Viking to come. Tell me what your thoughts are. Thanks for watching. Thinking about getting solar, a home battery, or an EV charger? Check out Australia's best free comparison tool. Because it could save you a lot of money. Guys, click on the link below in the description, and you can see how much you can save. Alternatively, give ReSync a call. They are the guys who installed my battery and my home solar. I'll put a link to them as well in the description.