notes that used car prices as a whole in the US are down 8.7% from 2022, and they've been dropping all year. The publication looked closely at 1.8 million used car sales on our shores from February 2022 to February 2023 to get a handle on prices, and more specifically, which models are selling at the biggest discounts.electric sedan has shown the most substantial price drop. In fact, the publication says Model 3 pre-owned prices are now down a whopping 21.5% from September 2022 and 19.
Check out the charts below for more details. The first chart shows the largest used price drops over the last six months, and the second shows year-over-year used price drops.Karl Brauer adds that he's heard some talk about the prices rising, but he assumes they must be in the wholesale and auction spaces. He shares:
“But we’re not seeing used car price increases at the retail level, suggesting dealers are having to pay more but aren’t seeing higher prices when it's time to sell. This potentially means profit margins for dealers are compressing.” Regardless of the details, we do know based on history that price hikes and price drops don't last forever. Keep your eyes on the market and try to take advantage of the low prices while you can. If dealers really are having to pay more for these vehicles, they'll likely attempt to raise prices to compensate for their falling margins.
time to short some $TSLA
Used ones look dangerous
Cheap looking car. Looks too cookie-cutter and vanilla. No thanks
One can buy 2 Malibus for price of one model 3 and have several thousand left over.
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