article thumbnail

Used Tesla vehicles crush industry average depreciation despite price cuts

Teslarati

Used Tesla Model 3s and Model Ys aren’t depreciating nearly as fast as their luxury vehicle counterparts, despite five price cuts in the year’s first quarter. Moreover, Recurrent Auto , the company that published the report, has more good news for current and will-be Tesla owners.

Price 110
article thumbnail

Elon Musk comments on Tesla’s pricing strategy following cuts

Teslarati

Tesla has dropped the prices of its electric vehicles (EVs) and its Full Self-Driving (FSD) software over the past few weeks, reigniting larger discussions about the automaker’s overall pricing strategy. “Subscription price will go up once we release FSD. . We are raising Model Y prices.

Price 134
article thumbnail

Kelley Blue Book finds average EV price in US down 5.4% in January due to Tesla price cuts

Green Car Congress

The average transaction price (ATP) of a new vehicle in the US declined slightly in January 2023 to $49,388, a decrease of 0.6% ($310) from December’s record high and up 5.9% ($2,768) from levels one year earlier. The average price paid for a new EV decreased in January by $3,363 (down 5.4%) compared to December. year over year.

Price 199
article thumbnail

Another Tesla price cut possible thanks to plummeting lithium prices

Teslarati

Tesla is poised to benefit from rapidly dropping lithium prices, particularly in China, where the automaker produces nearly half of its vehicles. Hence, the price of EVs has become intertwined with the cost of lithium , which has slowly become cheaper thanks to massive investments worldwide. What do you think of the article?

Price 144
article thumbnail

Tesla led the EV market closer to ICE price parity in 2023: Cox

Teslarati

Sticker prices on electric vehicles (EVs) continued to trend downward in 2023 toward price parity with gas cars, as led by price cuts from market leader Tesla. The data shows that the average sticker price of a Tesla dropped throughout the year to reach $50,051 in December.

Price 124
article thumbnail

Tesla hints at upcoming Model Y price hike in China

Teslarati

It appears that Tesla China is poised to raise the price of the Gigafactory Shanghai-made Model Y crossover. The expected price hike comes just weeks after the electric vehicle maker increased the price of the Model Y Performance by RMB 14,000 (around $1,920). Don’t hesitate to contact us with news tips.

China 142
article thumbnail

Tesla Model Y 7-seater option gets $500 price increase

Teslarati

Tesla increased the price of the Model Y’s 7-seater option by $500. Before Tesla raised the price, the Model Y’s 7-seat option was $2,500. As everyone settles into 2024, Tesla has started rolling out price changes in the United States and China. Tesla China’s vehicles are a whole different story.

Price 115