Tesla Model 3 is going to retain its value better than the competition, according to a new report from Kelley Blue Book – though to be fair, it’s based on very little data.
The California-based vehicle valuation and automotive research company released its 2019 Best Resale Value Award Winners and Model 3 topped the electric vehicle category – though it would have also taken the top positions in other categories if it would have been included.
They said about the Model 3:
“The Tesla Model 3 has a cultural magic and desirability about it that made people willing to wait months and even years to own one. People don’t like Tesla Model 3s — they crave them — and that’s how you hold on to your resale value over time.”
Kelley Blue Book projects a resale value of 69.3% at 36 months and 48.7% at 60 months for Model 3.
The company bundles all electric vehicles together instead of making them compete with their gas-powered equivalent.
If Model 3 was included in either the “luxury car” or “midsize car” categories, it would have topped both of them by a wide margin.
Kelley Blue Book’s rankings are based on projections, but Tesla vehicles have already shown that they hold their value better than competition on the used market, according to other studies.
I think the Model 3 is going to hold its value just fine, but I would take this award from Kelley Blue Book with a grain of salt.
How serious can it be if they put the Audi e-tron in third place with absolutely zero data points:
Also, why compare them only with electric vehicles?
Based on Kelley Blue Book’s own projections, Model 3 should have actually cracked the overall top ten competing even with vehicles like the Ford F-150, but it’s nowhere to be seen on the top 10 list.
It’s better off comparing the Model 3 to direct competitors like the BMW 3 Series or even the Toyota Prius, which happen to be cars that new Model 3 buyers are trading in the most.