Tesla and the used market – questions and answers

Tesla and its CEO Elon Musk have become synonymous with each other for many. In the wake of Musk's political forays and statements, questions are being raised about how the brand is being affected. And there is concern among many about how much a Tesla car has lost, or will lose, in value. Here we provide answers to three common Tesla-related questions we are currently receiving.

How have Tesla sales been this spring?

Tesla's sales in the new car market and the used car market differ. The number of newly registered Tesla cars has decreased significantly - in April, minus 80 percent was noted compared to the same month last year, according to Mobility Sweden. In terms of actual cars, this is 203 Teslas that were registered during the month, a drop from the 1,052 that were registered in April 2024. But despite declining sales figures, Tesla's Model Y and Model 3 topped the new car sales trend for electric cars in Europe in Q1, according to figures from JATO Dynamics.

Why is this significant change happening? Bilpriser analyst Karl Wahlin does not see Elon Musk's statements in the media as the only reason why, but believes that two other events have had a major impact:

1. The best-selling Model Y has been updated, and at launch there was only a Launch Edition available: a model that was SEK 100,000 more expensive than the standard version. It was not until late February that order books for the regular Model Y opened, which has affected new car sales.

2. Before the model change, Tesla had extra favorable prices, free charging and loans with zero percent interest on the previous version of the Model Y. This created a saturated market at the beginning of the year.

When it comes to used car sales, we at Kvdbil can see that sales and demand have picked up. Many lease agreements have expired during the spring, which has increased the influx of Tesla cars into the used market.

– We have seen a 30 percent increase in Tesla sales through us during the first months of the year, says our sales manager Daniel Odsberg.

What has happened to used Tesla prices?

Bilpriser's analysts see that prices for used Teslas are staying at stable levels right now. When asked why, there are several aspects to consider.

Tesla has long been a leader in the development of electric car technology. The cars have low fuel consumption, long range and a technology system with extensive and continuous updates. This helps to ensure that a Tesla that is several years old still retains the new car feel.

When Tesla was launched on the market, it was with premium models. But over the years, they have also made several price cuts and enticed customers to buy a new car, before a used one, by offering car loans with zero percent interest. Tesla's own pricing has thus both changed and developed, but the resale value has remained relatively stable.

How has the price picture for Tesla changed in relation to electric cars in general?

Every month, Bilpriser measures the used car price index (BPI) to see the price trend for used cars. For electric cars, we can see that the price level for used electric cars has remained relatively constant over the last 10-12 months. And in connection with this, analyst Karl Wahlin believes that it is important to highlight the broad price mix that is on the market right now.

In recent years, more new electric car models have been rolled out to the market at a rapid pace, in several different price ranges. At the same time, electric cars are still very new to the market, and as development progresses rapidly, the cars are aging in real time.

What does that mean, then? Well, in short, it means that a car that just a few years ago had a long range and was equipped with the latest technology may now be outdated when the expectation of the range is longer – and the then modern technology is now an expected standard.

– You almost have to go down to the model level to be able to express yourself correctly, says Wahlin. There are models that have lost a lot, there are models that are stable, and there are even some electric car models that are increasing in value. If you compare the resale value of a Tesla against the electric car market in general, Tesla's models end up among the electric cars that have stayed in the middle, and have managed to remain relatively stable in price.