The fact that Tesla doesn’t conform to the usual yearly model vehicle program and instead upgrades its vehicles whenever a new tech is ready can be hard on the value of its existing cars whenever those upgrades happen. Yet, the retained value of used Model S sedans has held up better than other EVs or any vehicles in its segment.
Autolist published a study last year that reflected just that. Today, the buyer intelligence firm released another study looking at how fast used Teslas are moving after being listed and how close to the list price they are selling for.
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According to their report, Tesla’s Model S takes on average 87 days to sell after being listed and the sale price was on average 3 to 5% closer to the list price than most other vehicles.
What is interesting here is that they can not only look at the same segment, like with retained value in the previous study, but also at less expensive vehicles and see just how quick Tesla vehicles move off the lots.
For the study, Alex Klein, VP of Data Science at Autolist, analyzed data from over 10 million vehicles and came to the conclusion that the Model S outperforms even the top performing GM and Ford vehicles.
Unsurprisingly, it also outperforms the vehicles in its own segment:
“As compared to its peer group – which includes the Audi A7, Porsche Panamera, BMW 6 Series, Mercedes-Benz CLS, and Lexus LS 460 – the Tesla Model S has seen prices trend between 3% and 5% above expectations for the past year.”
Interestingly, Klein also looked at how used Model S prices vary across 50 states and came up with 5 states where listing are cheaper than the national average:
Technically, those states are where people have the best chances of finding cheaper used Tesla Model S sedans. Of course, Tesla also lists hundreds of certified pre-owned vehicles on its website. The inventory has been growing this year since Tesla now has more vehicles coming off their leases.