A car expert has explained why Teslas lose value so quickly in comparison to other cars, including rival EVs, and it actually makes a lot of sense.
Cars are one of life’s purchases that depreciate the most, alongside phones and tech.
However, when it comes to losing value, not all cars depreciate at the same rate.
Generally speaking, trucks and SUVs hold their value for longer than EVs and luxury sedans.
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Teslas lose value more quickly than some other cars
A British Tesla Model Y owner was left shocked after he took his EV to WeBuyAnyCar for a valuation and was told it’s value had dropped dramatically.
He spent a little over $70,000 on the car, but one year later was told it was worth just $36,800. Ouch.
In a statement, WeBuyAnyCar explained that EVs ‘depreciate faster and typically have higher prices, so more value loss through depreciation can be expected – in some cases up to 50 percent’.
Now, a car expert from the aptly named The Car Expert has detailed why Teslas lose value more quickly than other vehicles.
He told LADbible that Teslas had become a victim of their own success, explaining that Model 3 and Model Y were ‘far and away the best electric cars on the market’.
“Given that most owners tend to have their cars three or four years, it means that if you’re looking for a two, three, four-year-old electric car there are far more Teslas on the market because there were far more of them to begin with,” he said.
Alongside that, Tesla itself has also been lowering the price of its vehicles, which naturally impacts used models, too.
The car expert went on to say that stronger competition in the market also drives down resale prices.
“If you wanted to buy a new electric car in 2019, 2020, there weren’t many options. From 2020 onwards, sales kind of took off,” he added.
“Other manufacturers are catching up to Tesla, getting into the market. Now, in 2025 there are something like 180 electric cars on the market.”
Is there anything to slow down depreciation?
So the big question is, is there anything owners can do to stop Teslas losing their value?
Photo by Prometheus on Unsplash
And the answer is, sort of.
Although the average seller can’t change the whole resale market, there are some things that can help boost its value.
The owner a Tesla Model 3 in the US added thousands to his EV’s valuation by getting a free battery report.
WeBuyAnyCar also recommends maintaining a good service history and keeping your car clean and tidy can all help.
Choosing when to sell can also help, with the company suggesting that its best to avoid selling around the time new number plates launch.
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