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Victoria Premium Automobiles Ltd.
1859 Blanshard Street
Victoria, BC V8T 4H9
Phone: 250-380-0581 | Fax: 250-380-0823
Monday to Thursday 9:00 am to 7:00 pm
Friday to Saturday 9:00 am to 6:00 pm | Sunday By Appointment Only

Friday, 09 February 2018 12:36

Used Tesla Marketplace is Unique

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Elon Musk has launched a 2008 Tesla Roadster into space and into an elliptical orbit between Earth and Mars, but for the rest of us, the question is how much for a terrestrial 2008 Tesla Roadster?

Teslas and other electric vehicles (EVs) have been around for years now, claiming a small-but-growing market share. While buyers have been willing to pay a premium for EVs in the new-vehicle marketplace, how have Teslas and other EVs performed in the used-vehicle space?

According to Tesla’s own numbers, sales of their used vehicles have been growing and the manufacturer, through careful management of used inventory, have been able maintain prices.

Teslarati, a website that deals in Tesla news, rumors and reviews, reports that the company’s sales of used inventory increased by $117 million in 2016 and saw a further increase of an estimated $170 million in 2017.

According to Teslarati, the company attributes the used sales bump to an increase in pre-owned vehicle sales as an organic result of increased automotive sales as well as from expansion of Tesla’s own trade-in program.

From New to Used: Controlling the Market

Tesla has always worked hard to control every aspect of the Tesla new-vehicle ownership process. The company is trying to do the same in the used space.

In 2013, Tesla rolled out a 63-month car loan in which Tesla promised to buy the car back after 36 months if the buyer desired, for the same residual value percentage as the Mercedes S Class. The goal was to remove an objection for potential buyers who were concerned about the resale value of the electric vehicle.

Analysts such as Kevin Tynan of Bloomberg saw the financing/leasing play as a way to control the secondary used car market and to create another profit center for the manufacturer.

Observers say it is working: Teslas are holding their value better than other EV brands, with many models selling for well-over half their original, new sales price. In comparison, other EVs, such as the Nissan leaf, typically sell for a third of their new price.

And the resale price for the 2008 Tesla Roadster currently in orbit? Difficult to say if there will be anything salvageable as scientists say the cherry red Tesla Roadster and its 'driver' Starman will most likely be torn to bits by radiation and cosmic debris within a year as the vehicle drifts through space.

Read 34 times Last modified on Friday, 09 February 2018 12:50
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Victoria Premium Automobiles Ltd.
1859 Blanshard Street
Victoria, BC V8T 4H9
Phone: 250-380-0581
Monday to Saturday 9:00 am to 6:00 pm | Sunday By Appointment Only