The Tesla Model Y was launched on Friday June 10 in Australia and New Zealand and used EV market data for the Tesla Model 3 now reveals a spike of 167% in listings since the launch.
This strong growth in used Tesla Model 3s available in Australia is a good sign for the used EV market, as more EVs are made available to those looking at making the EV switch now.
On the other hand, the prices being asked by sellers for the rising number of Tesla Model 3s are not making the used EV market any more affordable.
Used Tesla Model 3 ads are up by 167% since Model Y launch
Tesla Model 3 ads have continued to spike since the launch of the Model Y. New data from carloop reveals an increase of 167% in the used EV listings for the Tesla Model 3 when compared with data prior to the Tesla Model Y orders opening.
This data also shows an increase of 383% in used Tesla Model 3 listings since the beginning of the year.
This trend is only set to continue as the production of some Australian-bound Tesla Model Y is firmed up for early RWD customers. These vehicles are expected to land on our shores by September.
Those that are currently upgrading from a Tesla Model 3 to these Model Ys are expected to be listing their current EVs over the coming months too.
Affordable used Tesla Model 3s may be many months away
Analysing the prices being asked by current used Tesla Model 3 owners reveals many listings to be above what was paid in 2021 when these vehicles were first delivered to Australia.
The lowest prices being asked are closer to $70,000 mark once stamp duty and transfer fees are considered. That’s thousands of dollars above what was paid when these Model 3s were new.
That trend is also expected to continue until new Tesla Model 3 deliveries get to our shores bringing more supply to the market.
With recent delays in the more affordable BYD Atto 3 and the updated MG ZS EV for our local market, the prices for used EVs are set to remain high until more supply reaches our shores.
Riz is the founder of carloop based in Melbourne, specialising in Australian EV data, insight reports and trends. He is a mechanical engineer who spent the first 7 years of his career building transport infrastructure before starting carloop. He has a passion for cars, particularly EVs and wants to help reduce transport emissions in Australia. He currently drives a red Tesla Model 3.