The second hand price of a Tesla continues to fall
When Tesla started cutting the price of it's new cars, it forced the used car prices down. Here's the chart:
The moral of the story is that it sucks to be an early adopter, you always end up overpaying.
Tesla owners however do have a right to feel a little disgruntled because in 2019, Elon Musk told them that Teslas would be "appreciating assets".
https://electrek.co/2019/04/12/tesla-vehicles-appreciating-assets-self-driving-elon-musk/
Elon Musk has made quite an important claim about Tesla vehicles today; the CEO said that Tesla’s vehicles are now ‘appreciating assets’ due to their self-driving capability.
Except for a rare few exceptions, cars are depreciating assets for the most part.
Aside from a few supercars and rare models, passenger vehicles lose their value fairly quickly, but Musk now claims that it is not the case for Tesla vehicles.
He said during a podcast (embedded below) today:
“Buying a car today is an investment into the future. I think the most profound thing is that if you buy a Tesla today, I believe you are buying an appreciating asset – not a depreciating asset.”
Musk was talking about the fact that new Tesla vehicles are now built with a new Full Self-Driving computer that he believes complete Tesla’s hardware suite needed to deliver full autonomous driving through future software updates.
Obviously, he was talking baloney. Car prices are based on supply and demand. The greater the supply of used Teslas on the market, the lower the price was going to go. It happens to all mass market cars.
The only reason Musk got away with his claims is because he has so many gullible fans.