The Tesla Model 3 was ranked number 1 on a new study that analyzed the value retention of vehicles on the market. The Model 3 only showed a depreciation of 5.5% compared to the price of a new unit. That’s half the depreciation compared of the second-ranked vehicle on the study’s Top 10 list, the incredibly popular Ford Ranger pickup truck.
The study from iSeeCars.com noted the difference in value between two Model 3s manufactured a year apart was only $2,529. That’s just roughly the price of a few options from Tesla’s online configurator, like paint and white seats. With prices this close, there will likely be very little incentive for prospective EV buyers to opt for a second-hand Model 3.
One of the key motivations for buyers of second-hand cars is the supposed low price of the used vehicles themselves. Cars are notorious for losing a significant part of their value as soon as they are driven off the lot, and generally, electric vehicles see an even steeper depreciation. But for Tesla buyers, the high value retention of the company’s vehicles means that most of the time, it becomes far more practical to acquire a brand new Model 3 from the electric car maker.
This is something that was highlighted by iSeeCars CEO Phong Ly in a statement. “Instead of buying a car that’s already been driven for one year, consumers can buy the new version of select vehicles with a purchase price of just a few thousand dollars more to avoid the uncertainties that come with purchasing a used vehicle,” he said.
The iSeeCars CEO has valid points. There are notable uncertainties when one purchases an electric car. A second-hand car whose previous owner was careless may be prone to more issues compared to a new vehicle, for example. Apart from this, purchasing new cars offer a lot of benefits to consumers, since buyers will have full control on what their cars will be equipped with, from its interior to software-based features such as the Full Self-Driving suite.
The benefits of new Teslas extend beyond the cars’ buyers as well. The electric car maker benefits from operating a fleet of vehicles that are comprised of mostly new cars. Tesla is known for incrementally improving its vehicles to an almost obsessive degree. This means that when it comes to Teslas, it is always in the best interest of consumers to purchase the latest cars to make sure that they are getting the best tech and features available.
Does this mean that there is no place for Teslas in the second hand market? Definitely not. Second-hand Teslas will likely play a valuable role in the years to come, considering that the company is still expanding its presence across the globe and is yet to enter some large markets like India. Tesla is on a path towards a future where it could eventually produce millions of cars every year. Once this happens, Teslas will likely become ubiquitous enough that the second-hand market for the company’s electric cars will be friendlier to buyers.
Second-hand Teslas can also play a huge role in the company’s Robotaxi Network, which will utilize vehicles for ride-hailing services. For owners who wish to operate several Robotaxis, even the small savings offered by pre-owned vehicles will go a long way to ensure that their return of investment is quick. For now, though, and as long as Tesla is demand constrained, buyers can expect the Model 3 to resiliently retain its value years after it is purchased.
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If there is anything shown in iSeeCars’ recent study, it is that Tesla is breaking stereotypes once more. A separate study from the firm showed that electric vehicles depreciate by 56.6% in three years, significantly more than 38.2% average depreciation across most petrol vehicles. Tesla has bucked this trend, however, with its entire lineup of vehicles like the Model 3, Model S, and Model X.
SpaceX (NASDAQ: SPCX) got an absolutely crazy price target rating from Raymond James after the company experienced a tough first few weeks following its Initial Public Offering (IPO).
Despite the tumultuous start, SpaceX has plenty of believers, and the company’s massively successful Starship launch last Friday, its 13th test flight of the massive rocket, went so smoothly that Raymond James analysts pushed its price target on the company to roughly 7 times its current trading level.
SpaceX Starship just nailed something it’s never done before
The firm officially put a “Strong Buy” rating and an $800 price target on the stock. It currently trades at around $113. Its all-time high is $225.64, reaching this trading level shortly after shares first went public.
Raymond James’ price target is tied to the firm’s confidence after Starship’s 13th test flight. Analysts at the firm said it was an incremental step that reduces engineering risks, citing the widely successful heat shield test that CEO Elon Musk recently detailed, the smooth deployment of Starlink V3 satellites, and a successful in-space engine relight.
SpaceX also managed to see Starship splash down safely in the Indian Ocean, while the Super Heavy Booster fell down to the Gulf of America with no incidents.
It is interesting to see these launches have such a tremendous impact on the stock and what investors think of it. After SpaceX initially delayed the Starship launch last week, shares fell tremendously. Most probably did not realize that the stand-down is a standard practice, especially if everything is not perfect.
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The mission was initially aborted due to an issue with Raptor engines. This was resolved, and Starship launched last Friday after another delay on Thursday, which was caused by weather.
Now that analysts have seen what SpaceX launches are capable of and how impressive the feat is, firms are adjusting their price targets accordingly, making it known that they have high expectations for the space exploration company.
Tesla CEO Elon Musk has responded to reports that Volvo is officially discontinuing the LiDAR sensor on two of its cars.
Volvo announced that it would officially scrap LiDAR systems on its EX90 and ES90 vehicles in various markets. In Norway, owners will get a €1,800 compensation for features that will never arrive due to this decision. There will be no option to remove the unit from vehicles, either.
The issue stems from Volvo’s supplier, Luminar, and its bankruptcy filing. Luminar will no longer be able to supply LiDAR units to Volvo for the EX90 and ES90, effectively axing any use the unit has on vehicles. Volvo will phase out the data collection processes via the LiDAR system, and it will not be utilized whatsoever.
Musk saw the story on X and responded, stating:
“I did try to warn them. Humans drive using neural nets and optical sensors. Same is true for robot cars.”
I did try to warn them.
Humans drive using neural nets and optical sensors. Same is true for robot cars.
— Elon Musk (@elonmusk) July 29, 2026
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Musk has been publicly vocal about his disdain for LiDAR systems, once calling them “a fool’s errand,” as he has consistently kept the outlook that they are not needed for effective self-driving.
The typical example used as evidence for this by Musk is humans themselves: made with only eyes and memories, humans are capable of navigating a car by using what they can see and what they’ve personally experienced on the road.
Elon Musk argues lidar and radar make self driving cars more dangerous
“Same is true for robot cars,” Musk says, as Teslas have eight exterior cameras that help see everything surrounding the vehicle, and a neural network that analyzes behavior and tendencies with every mile driven.
Tesla is a vision-only self-driving company that ditched sensors and radar several years ago in favor of cameras. Behind this effort, the company has established a reputation for having one of the most robust self-driving platforms in the world.
Musk’s big bet with Tesla on its self-driving program’s strategy has widely paid off. Other companies continue to utilize things like LiDAR, radar, and sensors for effective self-driving, but Tesla has shown that there is more than one way to give consumers a strong and accurate driver assistance suite.
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The real question is: who will be the first company to take Musk’s advice and attempt a self-driving platform based on cameras only, or even license FSD for themselves?
Tesla has started to deploy the 2026 Summer Update to owners across its fleet, and among the biggest changes are improvements to Navigation, a new startup animation for the Model 3 and Model Y, Caraoke scoring, and new capabilities for Grok.
As the update has started making its way to some cars, we can now see a few of the features operating in real-time. We will show you what some of the new features look like in this article, along with some additional details on what changed.
Not all of the new features in the 2026 Summer Update have quite made an appearance, but some of them have, so we’ll show those here:
New Animation Screen for 3/Y
Tesla is rolling out a new startup animation for Tesla Model 3 and Model Y owners. This is present in Launch Edition and Performance Model 3 and Model Y, but other trim levels do not have anything like this.
The new animation screen on Model 3/Y with the 2026 Summer Update
Apparently color will also be customizable: pic.twitter.com/wSdwggtG3S
— TESLARATI (@Teslarati) July 27, 2026
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Owners can adjust the color associated with the startup animation to suit their preferences. It is a surprise that more automakers do not focus on this animation for their vehicles; it can be a great first impression piece and make the car immediately feel more luxurious.
Tesla has included this on more premium trims, but it is nice to see it on the Model 3 and Model Y.
Grok Improvements
Grok can now adjust more things in the car outside of the Navigation system. Now, drivers can adjust anything from climate to driving settings by simply speaking to the AI assistant in the car:
@Tesla‘s AI assistant (Grok) with its new vehicle commands in action.
Set the climate, your destination and vehicle settings all in one go! pic.twitter.com/0bBTqaAk6G
— Not a Tesla App (@NotATeslaApp) July 28, 2026
You don’t even have to push a button, either. Instead, you can just say “Hey, Grok,” if you have it enabled. That feature rolled out with the 2026 Spring Update just a few months back.
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This is a great feature, especially pertinent for the Robotaxi platform, as there will be no buttons inside the Cybercab when it eventually starts giving rides to the public. It also broadens Grok’s capabilities, which were relatively limited in terms of vehicle setting adjustments beforehand.
SpaceX gets an absolutely crazy price target after rough IPO
Elon Musk responds to Volvo’s latest LiDAR decision
