Connect with us
tesla-10000-superchargers-europe tesla-10000-superchargers-europe

News

Used EV prices are stabilizing, suggests new data

(Credit:@lourencovc/Instagram)

Published

on

New data from Q2 suggests that used electric vehicle (EV) prices are stabilizing in the U.S., though it also points to continued supply constraints for the next couple of years.

According to the Q3 2024 Used EV Market Report shared by Recurrent Auto last Wednesday, used EV prices appear to be stabilizing—particularly in the $20,000 to $25,000 price range.

The data from recent months suggests that prices for used EVs are expected to become more predictable in Q3, while older model-year, lower-ranged EV prices are expected to continue dropping. Lease rates for battery-electric vehicles (BEVs) also surged in 2023,

EVs detailed in the company’s pricing index include the 2018 Chevrolet Volt, the 2019 Prius Prime, the 2019 Tesla Model 3, the 2020 Bolt EV, the 2020 Tesla Model Y, the 2021 Pacifica Hybrid, the 2021 Volkswagen ID.4, the 2022 Nissan Leaf, and the 2022 Mustang Mach-E. The firm also notes that they update the mix of vehicles included in the index each year, in order to better reflect current auto inventories.

Below you can see a few of the report’s charts, including pricing changes in some of Tesla’s used EVs.

Advertisement

Credit: Recurrent Auto

Credit: Recurrent Auto

Recurrent also notes that the EV market is continuing to grow, while used EV inventory totals seem to be leveling off since it first started covering inventory levels in 2021. Used EV inventories has surged around fourfold since then, with the current total inventory level on used EVs lands around 40,000 at any given time.

The report includes a ton of other insights on the used EV market going into Q3, and you can read Recurrent’s full Q3 2024 used EV market report here.

Alongside the used EV report, Recurrent published an EV adoption report on Wednesday, noting that U.S. EV sales appear to be on pace for the 2030 target of reaching 50 percent volume of auto sales.

In April, Tesla’s EVs were found to be some of the most in-demand used automobiles in Australia, while the Model S and Model X were recently considered used vehicles to avoid by Consumer Reports.

Tesla Model 3 and Model Y dominate 2023 used EV sales ranks

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Advertisement

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Advertisement
Comments

Elon Musk

USDOT Secretary visits Tesla Giga Texas, hints at national autonomous vehicle standards

The Transportation Secretary also toured the factory’s production lines and spoke with CEO Elon Musk.

Published

on

Credit: Elon Musk/X

United States Department of Transportation (USDOT) Secretary Sean Duffy recently visited Tesla’s Gigafactory Texas complex, where he toured the factory’s production lines and spoke with CEO Elon Musk. In a video posted following his Giga Texas visit, Duffy noted that he believes there should be a national standard for autonomous vehicles in the United States.

Duffy’s Giga Texas Visit

As could be seen in videos of his Giga Texas visit, the Transportation Secretary seemed to appreciate the work Tesla has been doing to put the United States in the forefront of innovation. “Tesla is one of the many companies helping our country reach new heights. USDOT will be right there all the way to make sure Americans stay safe,” Duffy wrote in a post on X. 

He also praised Tesla for its autonomous vehicle program, highlighting that “We need American companies to keep innovating so we can outcompete the rest of the world.”

National Standard

While speaking with Tesla CEO Elon Musk, the Transportation Secretary stated that other autonomous ride-hailing companies have been lobbying for a national standard for self-driving cars. Musk shared the sentiment, stating that “It’d be wonderful for the United States to have a national set of rules for autonomous driving as opposed to 50 independent sets of rules on a state-by-state rules basis.”

Duffy agreed with the CEO’s point, stating that, “You can’t have 50 different rules for 50 different states. You need one standard.” He also noted that the Transportation Department has asked autonomous vehicle companies to submit data. By doing so, the USDOT could develop a standard for the entire United States, allowing self-driving cars to operate in a manner that is natural and safe.

Advertisement
Continue Reading

News

Tesla posts Optimus’ most impressive video demonstration yet

The humanoid robot was able to complete all the tasks through a single neural network.

Published

on

Credit: Tesla Optimus/X

When Elon Musk spoke with CNBC’s David Faber in an interview at Giga Texas, he reiterated the idea that Optimus will be one of Tesla’s biggest products. Seemingly to highlight the CEO’s point, the official Tesla Optimus account on social media platform X shared what could very well be the most impressive demonstration of the humanoid robot’s capabilities to date.

Optimus’ Newest Demonstration

In its recent video demonstration, the Tesla Optimus team featured the humanoid robot performing a variety of tasks. These include household chores such as throwing the trash, using a broom and a vacuum cleaner, tearing a paper towel, stirring a pot of food, opening a cabinet, and closing a curtain, among others. The video also featured Optimus picking up a Model X fore link and placing it on a dolly.

What was most notable in the Tesla Optimus team’s demonstration was the fact that the humanoid robot was able to complete all the tasks through a single neural network. The robot’s actions were also learned directly from Optimus being fed data from first-person videos of humans performing similar tasks. This system should pave the way for Optimus to learn and refine new skills quickly and reliably.

Tesla VP for Optimus Shares Insight

In a follow-up post on X, Tesla Vice President of Optimus (Tesla Bot) Milan Kovac stated that one of the team’s goals is to have Optimus learn straight from internet videos of humans performing tasks, including footage captured in third person or by random cameras.

“We recently had a significant breakthrough along that journey, and can now transfer a big chunk of the learning directly from human videos to the bots (1st person views for now). This allows us to bootstrap new tasks much faster compared to teleoperated bot data alone (heavier operationally).

Advertisement

“Many new skills are emerging through this process, are called for via natural language (voice/text), and are run by a single neural network on the bot (multi-tasking). Next: expand to 3rd person video transfer (aka random internet), and push reliability via self-play (RL) in the real-, and/or synthetic- (sim / world models) world,” Kovac wrote in his post on X.

Continue Reading

News

Starship Flight 9 nears as SpaceX’s Starbase becomes a Texan City

SpaceX’s launch site is officially incorporated as Starbase, TX. Starship Flight 9 could launch on May 27, 2025. 

Published

on

spacex-starship-flight-9-starbase-city
(Credit: Jenny Hautmann/Wikimedia Commons)

SpaceX’s Starbase is officially incorporated as a city in Texas, aligning with preparations for Starship Flight 9. The newly formed city in Cameron County serves as the heart of SpaceX’s Starship program.

Starbase City spans 1.5 square miles, encompassing SpaceX’s launch facility and company-owned land. A near-unanimous vote by residents, who were mostly SpaceX employees, led to its incorporation. SpaceX’s Vice President of Test and Launch, Bobby Peden, was elected mayor of Starbase. The new Texas city also has two SpaceX employees as commissioners. All Starbase officials will serve two-year terms unless extended to four by voters.

As the new city takes shape, SpaceX is preparing for the Starship Flight 9 launch, which is tentatively scheduled for May 27, 2025, at 6:30 PM CDT from Starbase, Texas.

SpaceX secured Federal Aviation Administration (FAA) approval for up to 25 annual Starship and Super Heavy launches from the site. However, the FAA emphasized that “there are other licensing requirements still to be completed,” including policy, safety, and environmental reviews.

Advertisement

On May 15, the FAA noted SpaceX updated its launch license for Flight 9, but added: “SpaceX may not launch until the FAA either closes the Starship Flight 8 mishap investigation or makes a return to flight determination. The FAA is reviewing the mishap report SpaceX submitted on May 14.”

Proposed Texas legislation could empower Starbase officials to close local highways and restrict Boca Chica Beach access during launches. Cameron County Judge Eddie Trevino, Jr., opposes the Texas legislation, insisting beach access remain under county control. This tension highlights the balance between SpaceX’s ambitions and local interests.

Starbase’s incorporation strengthens SpaceX’s operational base as it gears up for Starship Flight 9, a critical step in its mission to revolutionize space travel. With growing infrastructure and regulatory hurdles in focus, Starbase is poised to become a cornerstone of SpaceX’s vision, blending community development with cutting-edge aerospace innovation.

Advertisement
Continue Reading

Trending