A second-hand Model 3 has an average selling price of $47,453 which is significantly higher than the base price of its base model.
Tesla’s Model 3 had already become the best-selling executive sedan in the world, beating out even the BMW 3 Series, but now in the US, it has also become the best-selling used car, sold at a time at a higher price than even a new Model 3. One of the reasons for this sudden demand for the Tesla Model 3 is the global chip shortage which is impacting the production at even Tesla. Because of these production issues, it is so difficult to get a new car in the US that many have turned to the used car market and are even willing to pay a premium. The success of electric cars in the American used car market has also helped Tesla’s cause.
In the US, Tesla has lost the $7,500 tax credit as the manufacturer has crossed the 200,000 delivery threshold for the credit which has further helped the price in the used car market. iSeeCars also has shown that a Model 3 takes an average of 16 days to sell which is half the industry average and almost four days faster than the second best-selling used car the Mitsubishi Outlander. A second-hand Model 3 has an average selling price of $47,453 which is significantly higher than the base price of its base model.