A recent report from ISeeCars.com indicates that used Tesla prices fell 8% to an average of $30,708, marking the steepest decline among all auto brands. Factors impacting these prices include the controversial political involvement of CEO Elon Musk, which has alienated some consumers. Furthermore, the market for electric vehicles (EVs) is declining overall, with concerns over value and charging logistics. In contrast, used SUV and hybrid prices are rising, reflecting changing consumer preferences towards larger vehicles over EVs.
The average price for a used Tesla has dropped 8% to $30,708 over the past year, the steepest decline among auto brands.
Multiple factors contribute to a used car's value, but being an electric vehicle and wearing the 'Tesla' brand appears to be a double negative.
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