a buyer's market Used Tesla prices tumble as embarrassed owners look to sell Some owners would rather sell their car than be associated with Tesla now. Jonathan M. Gitlin Mar 14, 2025 1:17 pm | 309 Credit: Getty Images Credit: Getty Images Story textSizeSmallStandardLargeWidth *StandardWideLinksStandardOrange* Subscribers only Learn moreTesla has a real image problem. Once, it was the beloved brand for the environmentally aware car buyer; more than that, it was the hottest thing in town. Hundreds of thousands of fans paid thousand-dollar deposits and then waited for up to two years for a chance to buy a Model 3, with others paying hefty markups to people at the front of the queue. Back then, of course, Tesla CEO Elon Musk claimed to care about climate changenow he seems more likely to be found helping to undo work on climate change.That has hurt Tesla's new car sales, which have cratered in Europe and declined to a lesser degree in China (where Musk's political activities have less bearing, and decline is more stiff competition from local brands and the lack of a real model range). It has dented the reality-distortion field that surrounds the company's share price, if perhaps only to where it was six months ago. And it has also affected the prices of used Teslas here in the US.Being a Tesla driver is starting to carry some stigma, and owners are unused to the opprobrium they are now facing for their choice of electric vehicle. "Two weeks ago, I was called a Nazi in the parking lot at Kroger," one owner told The New York Times. The YouTuber Vegas Tesla Family just posted a video explaining that he was selling his Tesla "because of Elon Musk." And more than one Ars commenter has sold their Tesla in recent weeks as a direct result of Musk.But a car is usually the second-most expensive purchase a person will make, and many Tesla owners are in no position to suddenly sell their cars just because they find the man who makes them politically unpalatableeven if the cars continue to depreciate faster and faster. Hopefully no one actually took Musk at his word when he claimed that his cars would become appreciating assets.Similarly, one should take with a pinch of salt a website offering to steal Teslas from owners who are unable to find a buyer themselves.According to data from Car Gurus, used Tesla prices have fallen twice as fast (-3.7 percent) as the wider car market (-1.5 percent) over the last 90 days. Year over year, used Tesla prices are down 7.5 percent, compared to 2.8 percent for the market as a whole. And that's on top of steep depreciation caused by a series of new car price cuts over the past few years, as well as rental car companies and other companies disposing of fleets of Teslasen masse.The Model 3 has been on sale longer than the Model Y, and you'd expect the older cars to have depreciated more. Indeed, the average price of a 2017 Model 3 is just under $20,000 now. But even recent model years are shedding value rapidlya model-year 2022 Model 3 is worth just $25,000 on average.Model Y prices have decreased by a greater degree, although the higher MSRP and younger age of the Y mean prices haven't dropped quite as far as the 3, yet. But CarGurus has seen between 1621 percent drops for each model year of the Model Y, year over year.CarGurus isn't the only one to notice this trend, either. According to its data, iSeeCars says used Teslas have dropped by 13.6 percent, year over year. The Models 3, Y, and S were all in its top four EVs for depreciation, although top place went to the Porsche Taycan (which might be starting to look like a bargain).For its part, Tesla has been trying to boost its image with the help of President Trump. On Monday, the president took to the South Lawn of the White House to promote Tesla's cars, apparently buying one despite having campaigned on an explicitly anti-electric vehicle platform.Jonathan M. GitlinAutomotive EditorJonathan M. GitlinAutomotive Editor Jonathan is the Automotive Editor at Ars Technica. He has a BSc and PhD in Pharmacology. In 2014 he decided to indulge his lifelong passion for the car by leaving the National Human Genome Research Institute and launching Ars Technica's automotive coverage. He lives in Washington, DC. 309 Comments