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Tesla Model 3 leads used EV price collapse

(Credit: Tesla)

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New data reveals that the Tesla Model 3 is leading the current fall in used vehicle prices, particularly in the used EV segment.

The used car market has seen dramatic movement over the past twelve months. At one point, vehicle prices were still spiking, largely thanks to the constrained production of new vehicles. But since this rapid climb in price, new vehicle inventories for many leading brands have recovered significantly. Hence, the used market has begun to collapse in reaction. Now, according to pricing data released by iSeeCars, the Tesla Model 3 has been leading this price collapse over the past six months.

Overall, iSeeCars found that used vehicles had contracted in price by 4.7% over the past six months and contracted 8.7% over the past 12. But leading that charge is the Tesla Model 3, which has seen its average used price fall by 21.5% over the past six months, the fastest of any model from any automaker in the industry. The Model 3 was the fourth most rapidly depreciating vehicle over the past 12 months, down 19.3%.

Strangely, the average used Model 3 was sold for $41,337 in February, which, despite the rapid price decline, remains more expensive than a base model new Model 3.

In context, the entry-level Tesla was one of four vehicles that had its price drop by more than 13%, joined by the Nissan Armada, Infinity QX80, and Land Rover Discovery.

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Surprisingly, not all vehicle segments collapsed equally, and in fact, some have continued to appreciate despite the return of new inventory. The Mercedes S-Class was the fastest appreciating model over the past six months, which saw its average used price balloon by 11.8%. The Mercedes GLS and Porsche 911 rounded out the top three models that saw price appreciation over that period, growing by 11.2% and 10.9%, respectively. Overall, vehicles from premium German automakers were the most likely to see prices rise over the past six months.

Opposite this movement, the segment of used electric vehicles has followed the Tesla Model 3, contracting in price by 13.9% since September. The average used EV is now bought for $46,353, which has led many to anticipate this price to continue to drop, especially considering this price is far above the listing of a base model new Model 3.

The question remains whether this movement is good news or bad for the leading American EV brand, Tesla. On the one hand, these rapidly dropping prices now ensure more people than ever can afford Tesla vehicles, even if they are used. On the other hand, some buyers may be scared off buying a new Tesla Model 3, considering the rapid depreciation they are now incurring.

What is clear is that the overall movement of new EV prices downwards has finally meant that used EVs are becoming cheaper by the day, and it seems not so far off that a used Tesla Model 3 might become a dominant force within the used car market. However, until then, we can only hope this movement continues incentivizing car buyers to look at electric options with renewed interest.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

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Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Tesla Cybertruck gets Full Self-Driving v14 release date, sort of

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Tesla Cybertruck owners are wondering when they will get access to the company’s Full Self-Driving version 14.1 that rolled out to other owners today for the first time.

Cybertruck owners typically receive Full Self-Driving updates slightly later than other drivers, as the process for the all-electric pickup is different. It is a larger vehicle that requires some additional attention from Tesla before FSD versions are rolled out, so they will be slightly delayed. CEO Elon Musk said the all-wheel steering technically requires a bit more attention before rollout as well.

After some owners got access to the v14.1 Full Self-Driving suite this morning, Cybertruck owners sought out a potential timeframe for when they would be able to experience things for themselves.

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Tesla owners show off improvements with new Full Self-Driving v14 rollout

They were able to get an answer from Ashok Elluswamy, Tesla’s Head of AI, who said:

“We got you. Coming soon.”

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The release of FSD v14.1 for Cybertruck will not be tempered, either. Elluswamy then confirmed that Tesla would be rolling out the full-featured FSD v14 for the pickup, meaning it would be able to reverse and park itself, among other features.

Elluswamy said it would be capable of these features, which were void in other FSD releases for Cybertruck in the past.

Tesla’s rollout of FSD v14.1 brings several extremely notable changes and improvements to the suite, including more refined operation in parking garages, a new ability to choose parking preferences upon arriving at your destination, a new driving mode called “Sloth,” which is even more reserved than “Chill,” and general operational improvements.

Those who were lucky enough to receive the suite have already started showing off the improvements, and they definitely seem to be a step up from what v13’s more recent versions were capable of.

CEO Elon Musk called v14 “sentient” a few weeks back, and it seems that it is moving toward that. However, he did state that additional releases with more capabilities would be available in the coming weeks, but many owners are still waiting for this first version.

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Tesla launches two new affordable models with ‘Standard’ Model 3, Y offerings

It is the first time Tesla has revealed any details about what it planned to launch in terms of its new, lower-cost vehicles, which are mainly aimed at countering the loss of the $7,500 EV tax credit.

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Credit: Tesla

Tesla has officially launched its affordable models with the new Model 3 and Model Y ‘Standard’ versions hitting the company’s Online Design Studio on Tuesday.

It is the first time Tesla has revealed any details about what it planned to launch in terms of its new, lower-cost vehicles, which are mainly aimed at countering the loss of the $7,500 EV tax credit.

Here’s what Tesla went with for its release of the new affordable models.

Tesla Model Y ‘Standard’

The Model Y Standard is a stripped-down version of the all-electric crossover and starts at $39,990.

Deliveries are slated for November and December, the company says if you plan to order one, and it comes with a few major changes to improve efficiency and bring down cost for owners.

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  • New athletically tuned exterior and new alloy wheels to improve aerodynamics
  • 15.4″ touchscreen in the front, the same as the other trims
  • Available in three colors: Stealth Grey (free), White ($1,oo0 extra), Diamond Black ($1,500 extra)
  • Textile and vegan leather interior
  • Range sits at 321 miles
  • New front fascia
  • Covered glass roof (textile on inside)
  • Windows are not acoustically laminated for a quieter cabin
  • Manual mirrors and seats
  • Smaller frunk
  • No rear infotainment screen
  • No basic Autopilot
  • 69 kWh battery
  • New 19″ Aperture wheels
  • 0-60 MPH in 6.8 seconds
  • 7 speaker stereo, down from 15 speakers in premium models

Tesla Model 3 ‘Standard’

The Model 3 Standard was a surprise offering from Tesla, as many had only anticipated the company to refine and offer a more affordable version of the Model Y.

Coming in at $36,990, it features many of the same changes Tesla made with the Model Y “Standard,” all ways to improve price and make it less flashy than the more premium offerings.

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Deliveries are also slated for November for this vehicle, and it features relatively the same stripped-down offerings as the Model Y Standard.

  • Available in three colors: Stealth Grey (free), White ($1,oo0 extra), Diamond Black ($1,500 extra)
  • Textile and vegan leather interior
  • Range sits at 321 miles
  • Covered glass roof (textile on inside)
  • Manual mirrors and seats
  • No rear infotainment screen
  • No basic Autopilot
  • 69 kWh battery
  • New 19″ Aperture wheels
  • 0-60 MPH in 6.8 seconds
  • 7 speaker stereo, down from 15 speakers in premium models
@teslarati 🚨 Tesla’s Affordable Models are here! Let’s talk about them! #tesla #fyp #viral #teslaev #elonmusk ♬ Natural Emotions – Muspace Lofi

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Tesla owners show off improvements with new Full Self-Driving v14 rollout

Some of the big things that Tesla faced head-on with the development and release of v14 were navigating in parking garages and handling parking after arriving at a destination.

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Credit: Tesla Europe & Middle East/X

Tesla owners with access to the company’s Full Self-Driving new version, v14, which rolled out on Tuesday morning, are showcasing some of the very impressive improvements that have arrived.

CEO Elon Musk called v14 “sentient” a few weeks ahead of its rollout, claiming the newest iteration of the company’s Full Self-Driving platform would be the most accurate to date.

Tesla FSD (Supervised) V14.1 with Robotaxi-style dropoffs is here

It was obvious this narrative had Tesla owners keeping their expectations high, as there were very evidently things that needed to be improved upon that were present in v13. I wrote about several improvements I was hoping to see, and based on the release notes for v14, Tesla did have these things in the works already.

Some of the big things that Tesla faced head-on with the development and release of v14 were navigating in parking garages and handling parking after arriving at a destination.

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Tesla said it was working to increase the capabilities of Summon within parking garages, as many owners believe that is where it would be the most beneficial.

While that does not appear to be part of this initial v14 rollout, it does seem Tesla is focused on improving the suite’s ability to navigate through these garages, including stopping for a ticket to enter the facility, finding a spot, and parking in an appropriate space.

It was evident this was a huge improvement based on one example from an owner who received v14:

If you look closely, you will even see the car shift slightly to the right when it arrives at the ticketing station, making it easier for the driver to hand over their ticket and payment. It then moves back out to the right when leaving to return to the center of the lane. It’s very intuitive.

Additionally, it appears to be more accurate when parking, thanks to improvements that enable owners to select the type of parking upon arrival at a destination.

In the v14.1 release notes, Tesla said that it has added “Arrival Options for you to select where FSD should park: in a Parking Lot, on the Street, in a Driveway, in a Parking Garage, or at the Curbside.”

One owner chose to navigate home and chose a garage to park in. Full Self-Driving performed it without any issues:

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These are just two evident improvements so far, and there are likely many more on the way. The changes and fixes will be tracked by anyone with access to FSD v14 in the coming weeks.

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