Electric car buyers were shocked Thursday when the Tesla Model 3 Performance was announced 30% higher than what was being paid for its new one.
Posted on a popular auto sales site, the high-performance electric two-motor vehicle was sold for $130,000—about $30,000 above its new price.
As The Driven reports here and here, the value of used electric cars has been through the roof.
Unbearable inflation, behind the appreciation in value, the 12-month delay in the delivery of new Tesla orders and the high demand for California’s low-end, high-performance cars.
With the Model Y still not being available to order locally, the Tesla Model 3 accounted for one in seven EV sales in 2021.
With many drivers willing to pay more to get one now, rather than waiting, demand is fueling speculative bids.
The car is an almost new 2022 Model 3 Performance, which sells new from Tesla for about $100,000 (more or less depending on which government unit it’s purchased in.) It also has a white interior, which adds $1,500 extra value.
With just 3,500 kilometers on the clock, the ad doesn’t mention that it includes Tesla’s full self-driving package, which is a $10,100 add-on.
Although the car has not yet been sold and therefore does not represent resale value yet, the raised price makes the Model 3 currently the most expensive car for sale in Australia.
A now-deleted post on an electric car group on Facebook saw many comments from electric car enthusiasts, with one joke that they actually took a deposit for it.
Another Model 3 is on sale for $125,000. Offered at $5,000 less than the 2022 model, it’s a 2021 Performance 3 with 2,680 km on the clock.
According to data collected by carloop, the most recent announcements are several thousand more than recent Model 3 performance resale values.
Data from March 2022 shows that the average performing Model 3 currently sells for about $9,000 more than its new price: about $108,000.
Likewise, the Model 3 RWD (formerly Standard Range Plus) sells for about $4,000 more than new, at about $73,500.
It’s important to note, however, that Model 3 prices have fluctuated significantly in the past 12 months. At the highest price, a new Standard Range Plus (before hitting the roads) sold for $73,900, and the lowest was just $59,990.
The Long-Range Model 3 offsets the trend, selling for about $5,000 less than new, averaging $76,330 compared to about $82,000.
Demand for the Ioniq 5 is also increasing with segments of new cars selling out in a matter of minutes. This sees the near-new AWD Ioniq 5 offered for up to $18,000 above the new price.
Brady Schmidt is an associate editor at The Driven, the sister site to Renew Economy. She has been writing about electric vehicles since 2018, and has a keen interest in the role zero-emissions transportation should play in sustainability. She has participated in podcasts such as Download This Show with Marc Fennell and Shirtloads of Science with Karl Kruszelnicki and is a co-organizer of the Northern Rivers Electric Vehicle Forum. Bridie also owns a Tesla Model 3 which is available for rental at evee.com.au.
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