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A recent study and reports from owners show that Tesla vehicles aredepreciatingmuch faster than expected.
This is much higher than other brands like Chevrolet, which has a modest depreciation of just 0.4%.
Barronsreportedone Tesla owners frustration after receiving a trade-in offer for his one-year-old Model 3.
Pricing Strategies
In mid-2022, Teslas vehicle prices were at their highest, according to Barrons.
But these price cuts havent been as positive for Tesla owners.
Overall, Teslas strategy to cut prices boosted sales but caused rapid depreciation for current owners.
Hertz recently sold its surplus of Tesla 3s for less than $25,000, reported Barrons.
The retail price for a new Tesla 3 is $40,630, according toCar and Driver.
Competition
Last but not least, Tesla isnt theonly electric caron the market.
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