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Musk's price cuts crash Tesla values

by on12 March 2024

Depreciation high

The electric vehicle market is sputtering, with inventories piling up like a traffic jam on the M25, in a desperate bid to keep up, Tesla's been slashing prices like a mad axeman, but it's backfired spectacularly.

A study by has revealed that Tesla's resale values are falling faster than a free-fall team of elephants who forgot to pack their parachutes, with depreciation rates that make even a Maserati look like a sound investment.

The numbers are in, and they're as grim as a rainy day in Blackpool. Tesla's models are shedding value at a rate twice as fast as Alfa Romeo and three times quicker than Maserati. It's a depreciation disaster, and it's all thanks to Musk's relentless price hacking. Second-hand Teslas are about as desirable as a soggy chip butty.

And while Tesla's taking the brunt of the blow, let's spare a thought for the Chevy Bolt, the poor sod that's been crowned the king of the depreciation heap.

For the savvy shopper, there's a silver lining. The top four electric bangers are now going for under €22,750 and with tax credits up to €4,095, you could snag yourself an eco-friendly bargain.


Last modified on 13 March 2024
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