BRUSSELS, BELGIUM - JANUARY 10: Tesla Model Y battery electric compact crossover SUV on display at ... [+] the AutoSalon on January 10, 2025 in Brussels, Belgium. (Photo by Sjoerd van der Wal/Getty Images)Getty ImagesNew cars are out, used cars are in.Consumer Reports has just released its first ever brand ranking of used cars. Why? One reason is that new car prices are just too high for the average consumer. With the historically high price of new autos these days, more and more people are naturally looking to the pre-owned market in search of a better bargain, said Alex Knizek, associate director of auto test development at Consumer Reports, in a post.Used Model Y price collapseAnd better bargains abound for the most popular EV in the U.S., the Model Y. The average price for a used Y has dropped more than $6,000 over the last 12 months to about $30K this month, as shown in the CarGurus chart below. If you go back even further to March 2023, the bottom has dropped out of Model Y pricing, falling more than $20,000.Tesla Model Y average used price has dropped to about $30K.Credit: CarGurusA quick glance at prices on CarGurus for low-mileage (under 20K miles) Model Ys in the Los Angeles aftermarket, for example, show lots of decent deals, with plenty of low-mileage cars priced well below $30K.Used Model Y on CarGurus site.Credit: CarGurusThe sub-$15,000 Model 3Used Model 3s albeit high mileage can now be found for well below $15,000. When used prices sink that low it provides a buying opportunity for first-time electric vehicle buyers who otherwise could not afford an EV. For example, a used 2020 Model 3 with 170,000+ miles is being offered for $11,999 on CarGurus. Thats chump change for a Tesla. And a 2020 Model 3 Standard Range Plus RWD with around 58,000 miles is being offered for $19,999.Model Y sell-off, new rivalsWith the new Model Y Juniper being delivered to the first customers on Saturday, expect a sell-off of the prior generation Y if that hasnt already begun. There is also an undercurrent of anti-Tesla sentiment that may be driving some sales but that is difficult to quantify. One thing is not in doubt, however: there is a lot more competition.Despite Teslas continued reputation for competitive pricing and strong lease deals especially for the Model 3 and Model Y the brand is facing mounting pressure in an increasingly competitive EV landscape, Davide Greene, an industry analyst at Cars.com, told me in an email. The number of used EV models on the market has spiked, growing 31% year over year, with 76 different models available as of February 2025, compared to just 58 a year prior. This expansion gives consumers more choices beyond Tesla, including fresh designs from other brands, Greene said.Searches for Tesla dropping, vehicles lingeringWeb searches for used EVs are also trending away from Tesla. In February 2025, searches for used Teslas dropped 7% year over year, while searches for other used EVs jumped 28% year over year, according to Greene.Additionally, used Teslas are lingering on dealer lots at a similar rate to other EVsmarking a shift from a year ago when Tesla models moved more quickly than their competitors, Greene said. The combination of more competition and shifting consumer preferences makes it clear that Teslas dominance is being tested, he said.