I don’t get it, what changed in between 2021 and now? Back then we were told that electric cars were faster, cheaper to operate, quieter, and better for the environment. Isn’t all that still true today? Why are they losing value then?
1) Charging complexity at Hertz, turnaround time for vehicles that are not fully charged. 2) Body Repairs. Tesla is still notorious for bad repair lead times and costs. 3) 2021 was near peak Tesla pricing.
edit just to add: This is much less of a problem for individual owners; I know people who are still happy with their Teslas, and a single person needing a single replacement car while theirs is awaiting repair is not a big deal. But a car company needing a thousand replacements while a thousand cars are sitting in storage is pretty bad for them.
Further, these were relatively early model 3 with not great initial quantity, and Hertz had a bad operational experience for various reasons that are causing them to unload a bunch all at once.
Finally, Musk’s antics are arguably causing brand damage.
All of these impact resale value.
It's really amazing to see.
I bought my Model 3 Performance in 2019 for ~$57K. If I were to buy today, it'd be $56K. Now, a $1K drop doesn't seem like a lot, but there's been a lot of inflation in the last 5 years, and the M3P today has a couple newer features that mine doesn't have, like a power lift trunk, heated steering wheel, adaptive suspension, a screen for the rear seats, and faster acceleration.
Accounting for inflation alone, the M3P today should be costing ~$70K. With all the added features, it really should be $75K. But it's only $56K.
https://www.tesla.com/blog/what-you-need-know-about-federal-...
It is more about what didn't change. Tesla hasn't changed, at least it has not kept up with the times. For those who want them, there are better/cheaper/more reliable electric cars on the market. Tesla's answer to the new market is largely just more of the same. Except the Tesla pickup, which was new but also just plain horrible. That fiasco has seriously tarnished the brand.
I, for one, bought a used electric car recently for over half off the MSRP and it’s been an excellent car. It’s quiet, it’s fast, if I sit in my garage for 5 minutes when I arrive and answer a text message blowing the air conditioning that’s fine. I even just charge with the 120V outlet. But if you don’t have the ability to charge at home or work, it’s going to be more annoying than visiting a gas station, so likely better to stick with ICE for now.
In America? I thought Uncle Sam put a stop to that.