Photo: Which Car
Tesla Model 3 is aimed at those looking for the practicality and good value for money of an electric vehicle. The resale value of a vehicle is an important criterion for buyers, carmakers, and leasing companies, and Model 3 is on pace to become one of the best vehicles that CAREdge ever ranked for resale value.
CAREdge points out that cars should be judged after they've been in production for at least five years, but for Model 3, it is impossible to do because it started production in 2017. At the same time, research indicates that its early resale rates are looking strong.
Early indications suggest that an average 3-year old Model 3 has retained 77% of its value since being purchased new in 2017. If these figures persist, this would give Model 3 the highest residual value of any passenger car monitored by CAREdge (more than 300 models). In contrast, the average popular (non-luxury) vehicle retains 62% of its value after three years, giving the Model 3 a sizeable advantage over just about everything.
Source: CAREdge
Of course, the researchers have no data yet on how well the 5-year-old Model 3s will hold their value, but their depreciation forecasting tool suggests that the future looks bright for Model 3 owners. Their analysis predicts that in the future the average Model 3 will cost 59% of the purchase price after five years of use.
However, it should be kept in mind that, at the moment, Tesla has greatly improved its cars and technologies, producing Model 3s of a much higher level. Taking into account the fact that the company continues to improve the car, it becomes more and more competitive compared to others. Tesla has repeatedly proved that it will do everything possible to make its cars as attractive as possible in the automotive market, so the resale value of the company's cars will continue to hold strong.
© 2021, Eva Fox. All rights reserved.
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Article edited by @SmokeyShorts, you can follow him on Twitter
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
