New data shows listings for a few popular Tesla models are starting to fall, with prices falling as well, after enjoying strong price hikes as a result of the rising demand for used electric vehicles. Even with price increases, Tesla has updated its delivery dates for new vehicle orders, showing that many versions, and especially the Model Y, are sold out for the year in the United States.
There is a reasonable chance, as Bernstein analyst Toni Sacconaghi recently stated, that Tesla’s global average sales price (TSLA) will drop from $53,500 in the third quarter of 2022 to around $50,000. Earlier this month, Tesla Inc. announced on its website a rare discount on the 2023 Model 3 sedan and Model Y SUV; on Wednesday, the company doubled the reduction to $7,500 for customers who take delivery before the end of the year.
Because the December delivery credit is so large ($7,500), I am considering purchasing a 2023 Model 3, either the RWD or long-range variant, and trading in my current Tesla in exchange for the credit. When a brand-new Model 3 can be had for less than $40,000, it’s hard to imagine many people paying more than $50,000 for a used one.