Used Tesla electric vehicle listings have started to stabilise while prices on some models are also starting to come down, according to December data.
New data from carloop shows listings for Tesla’s most popular model, the Tesla Model Y, have fallen by 20.2% in December so far.
This is also down 37.8% since reaching all-time highs in September when nearly one in every ten Tesla Model Y EVs delivered in August were being flipped on the used Australian EV market.
The asking prices on the listings for the Model Y is also on the decline. In early November, the used Model Y prices were hovering around the $80,000 mark before any on-road costs.
Now carloop’s latest resale value data for December shows that the average asking price for a used Model Y RWD has dropped to $78,162. That’s down from $79,337 in late November.
Tesla Model Y is also not seeing the number of cancellations that Tesla Model 3 has. This has led to new inventory at much better prices for Tesla Model 3 being available to Australians for immediate delivery.
The new inventory was first spotted by The Driven in late November in certain cities. Now there is inventory for new Tesla Model 3s in many configurations and colours all across Australia. This includes Tesla’s fastest EV they currently deliver to Australia, the Tesla Model 3 Performance.
Many of the new Model 3 RWD EVs are also eligible for state and territory rebates which makes it a much better proposition than buying a used Model 3 with elevated prices.
With the stock of Tesla Model 3s on the rise and December being a traditionally slower month in the vehicle market, there are good deals on both new and used EVs. Tesla Model Y prices are coming down but are still a bit on the high side given the transfer fees that go on top of a seller’s asking price.
As more ships deliver new Tesla EVs to Australia in December, it’s worth keeping an eye on Tesla’s inventory page for a brand new Tesla over a used one while the prices adjust to a healthier used EV market.
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.