Tesla started 2023 by giving thousands of existing order holders and new customers a price cut regardless of the model they had on order. As the prices of a new Tesla are coming down in Australia, so too is the price of used Model 3s.
New data from carloop reveals that used Tesla Model 3 listing numbers are increasing, and prices are falling. First to the listings, our data shows them rising 6.6% in January over December. Used Model 3 listings are now hovering around the 540 vehicles mark.
That’s on the back of hundreds of Tesla deliveries expected around Australia in the coming weeks as more ships with Teslas arrive, according to Tesla shipment tracking expert, VedaPrime.
The second #Tesla Australian ship to arrive in 2023 has arrived in Brisbane – Turandot
Have one on the way? Want to know where your Tesla is and the cause of delays ?
Tracking & Predelivery servicehttps://t.co/wPQzj8t8qGArchive image – https://t.co/c8Mjh6Vjgf pic.twitter.com/OUYgrx4jdK
— VedaPrime (@VedaPrime) January 11, 2023
Previously, a trend has been spotted of existing Tesla Model 3 owners purchasing newer Model Y EVs, which started the sharp increase in listings in June last year.
Prices of Tesla Model 3s are also decreasing. For the first time, a used Tesla Model 3 can be purchased for under $50,000 in Australia.
An example of this is a 2020 Tesla Model 3 Standard Range Plus model with a listed price of $49,999. This white electric sedan has done 115,000 km and is available to purchase in NSW.
The average price of a used Tesla has also dropped to an all-time low. The average used Tesla Model 3 price in January 2023 now sits at $62,384 based on carloop’s used EV pricing data.
The impact of price cuts on new Tesla models is just starting to reflect on used EV prices.
The price drop is an early indicator of what’s to come as more supply of newer EVs the market. This is shaping 2023 to be a great year to pick up a used EV and save thousands.
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.