Image: Riz Akhtar
In 2023, Tesla started cutting prices on its Model 3 and Model Y EVs as supply chains improved. This helped used Tesla EVs to drop below $50,000 and then below $40,000 in Australia.
Just over a year later, prices of used Tesla vehicles have dropped further to some dipping below $30,000. Two Tesla Model 3 vehicles on carsales are now priced at $29,999.
Both cars are the single-motor Standard Range Plus variants and have over 115,000 km on the odometer.
Originally, this variant was priced from $73,060 driveway so, at under $30,000, it appears to be a fairly good price for buyers looking to get into a Model 3 Standard Range Plus vehicle.
This variant has a claimed range of 460 km but due to the Nickel-Manganese-Cobalt (NMC) chemistry of the battery, is best charged up to 80% for daily use. That’s a daily range of up to 376 km when charged up to that state of charge.
Tesla has since switched over to using Lithium-Iron-Phosphate LFP batteries in models built from 2021-onwards which are recommended to regularly be charged up to 100%.
Multiple factors are contributing to this drop in prices. Part of this drop is due to a rising amount of used EV stock being advertised.
Data from carloop also shows that the used Tesla Model 3 listings are at an all-time high with over 655 listings.
This is more than the last couple of peaks which revolved around the launch of the Model Y in 2022.
Then in 2023 as supply chains improved, it allowed Tesla to ship more cars to Australia when the rebates were still available across multiple states and territories.
In 2024, the rebates were mainly taken away and Tesla dropped prices on its range multiple times, making its new vehicles the most affordable they have ever been.
This shift has driven used EV prices down with it, helping Tesla EVs which make more than 50% of the total EV fleet more affordable for more buyers. The Driven’s estimates suggest over 115,000 Tesla vehicles on Australian roads.
So far in 2024, Tesla has sold 11,839 Model 3 which still puts it on the podium with Model Y which is the best-selling EV in the country.
Overall, improved supply and price cuts on the new Tesla Model 3 have ensured that there is a healthy used EV market developing. This would help more drivers to get behind the wheel of an EV and ditch ICE vehicles sooner.
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.
Swedish electric vehicle maker says it is "good to go" on vehicle to grid technology…
Brisbane-based RedEarth to become first in Australia to manufacture bidirectional chargers as market readies for…
BYD's upcoming mid-sized Sealion 7 SUV to be launched in right-hand-drive markets, faster charging only…
GAC Aion UT electric hatchback unveiled at a motor show, boasting over 500 km of…
Tesla reveals details of upcoming V4 supercharger cabinets which will deliver 500 kW of charging…
Trump to sweep away EV tax credits in stalling US market - to the delight…
View Comments
mmmmm IMHO Car sales is known to have questionable listings or sales. Not sure if this is real or the actual condition is actually listed. I would be researching posts from Carsales.com. May not be what you think. Always research first.
It doesn't have stalks now.....and never will. The customer is always right.
They will be the US built model 3s, one of them has stickers over it and the other is black. Motivated sellers. I'd be focusing on the average transaction price rather than the lowest advertised price
They don't make RH drive cars in the US
They did until the Shanghai factory was built. Mine is American as i assume all are that have the chrome trim.
These numbers mean that Teslas are still worth at least 50% at 5 years.
The trend is promising!
Thanks Riz
You can take another 10-20% off the advertised price of these cars to arrive at the actual sale price of these cars
This is the advertised price, anyone who has sold a 2nd hand car will agree with me.
And don't start me on Redbook - the biggest joke in the whole industry.
OK
With a CEO who lost interest in the auto manufacturing 24/7 GRIND - ending up with the very real prospect of owning an orphan, is something that should concentrate the mind.
I'm not worried about that stuff at all.
It'll only take a few words to get people back on-side, just like it only took a few words to get people off-side.
It's fair to say, he's more interested in wielding power and influence the with X. Saving free speech.... yea right.
Looks like the bots are stronger than ever on the new comments section protocol.
"The bots are strong in this one!"
Have you seen how many used ICE vehicles there are!?!?!
Talk about a market segment to avoid!!
You forgot to mention that one ICE manufacturer pulled out of the Australian market this month. Citroen - "Its departure will mark the end of a 100-plus year run in Australia, after it signed its first official deal with a local importer in 1923."
It won't be long for some of the Japanese manufacturers to do the same. Mazda has already removed its poor attempt of an EV from this market as it believes ICE is the future.
"This variant has a claimed range of 460 km but due to the Nickel-Manganese-Cobalt (NMC) chemistry of the battery, is best charged up to 80% for daily use. That’s a daily range of up to 376 km when charged up to that state of charge." is an odd thing to emphasise in a short article.
Limiting routine charging to 80% is good for NMC longevity but it is not limiting. Hardly anyone uses anything like 80% of their range in routine daily driving, so it would rarely matter. When one does want to use all 100% of the available range for longer, less frequent, out of town trips, you can charge up to 100%.
I would have thought the more relevant comment would have been to note that this is an NEDC rating and that the more realistic WLTP rating would be a bit lower, though still over 400km.
When new the NEDC rating was 580km so 460 is WLTP. EPA rating was 400km. But the reality was about 380 or 370km in good weather. In poor weather at highway speeds you couldn't stray off the path between available chargers. My range is claimed to be about 350km in winter after almost 5 years, little changed, and there are many more chargers available so all is good.
Tesla only ever claimed 384km on this variant. This would probably only get about 330km at a push. Which is still reasonable.
One of our sons has an original SR+ from Sept 19, as well as a newer Model Y. Our daughter in law has no trouble doing the Sunshine Coast to the Gold Coast AND back regularly to visit her mother, with no additional charging, in that car. That’s pretty darn good!
They sound cheap enough but how much will it cost to get the exhaust replaced? :)
and it runs the risk of getting the catalytic converter stolen :-)
...and then there are the spark plugs and the timing belt to do... and don't forget the transmission oil must be due for a change? As for the clutch, that's about to go too :)