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“If you buy a Tesla for $60,000 and a year later, it’s worth $45,000, but a Tesla changes the starting price of a new model to $50,000, your used Tesla will instantly be worth less.
The cuts affect Tesla’s used resale values and the bottom lines of other EV brands. The average price of a used Tesla has been declining consistently since August 2022, according to CarGurus data.
If you're thinking about ditching gas for an EV, you've probably considered the biggest name in the industry and the brand that brought electric cars to the masses -- Tesla. Most automakers have...
After a change of political leadership in Michigan's executive branch, on January 22, 2020, Tesla and the state of Michigan agreed to settle Tesla's 2016 federal lawsuit against the state for unfair vehicle sales and service restrictions. The agreement allows Tesla to sell and service cars within the state.
The EV company is increasingly focusing on sales growth, which could leave profit margins at risk.
It incurred a $195 million charge because of the depreciation of its EVs, a hit made more acute by Tesla slashing its prices. Hertz said its vehicles had monthly depreciation costs of $592 per car ...
Hertz also expects to book an about $245 million charge related to depreciation expenses from the proposed EV sale in the fourth quarter of 2023. ... The car rental firm is selling some Tesla ...
Owners of Tesla electric vehicles (EVs) looking to sell might be experiencing frustration as prices as the resale value dips. Some used Tesla models have even seen 25% price drops year-over-year.