Depreciation Crushed This Tesla So Hard After Just 18 Months, Itβs Almost Laughable

- This Tesla Model 3 sold for just $20,500, despite having a sticker price of $41,890.
- Driving the EV is a 57.5 kWh battery pack and a 271 hp rear motor.
- If youβre looking for a cheap EV, it could be a great time to get a used Model 3.
Itβs no secret that the values of many EVs fall off a cliff the moment they leave the showroom. However, the original owner of this 2023 Tesla Model 3 RWD is probably shaking their head and wondering where things went wrong after the car lost more than half of its value in just over 18 months and 35,500 miles (57,100 km).
Read: Teslaβs Latest Model 3 And Y Just Got Slammed
As an entry-level Model 3 RWD, this Tesla is fitted with its relatively small 57.5 kWh battery pack. However, it still gives the EV a respectable driving range of 272 miles (438 km), while sending juice to an electric motor with 271 hp and 310 lb-ft (420 Nm).
For most motorists out there, this is more than enough performance and more than enough range, particularly for a daily driver.
Not the Newest Version, But Still Well Equipped
As this is a 2023 Model 3 having being acquired new in late December of the same year, and not the updated Highland version, it misses out on he upgraded interior, as well as the more attractive new styling. But, thatβs not to say itβs short on features, as it includes 18-inch wheels, the standard panoramic glass roof, heated front and rear seats, and the central 15-inch infotainment display.
Cars & Bids
Depreciation Hits Hard
The car was recently listed for sale through Cars & Bids with an original sticker price of $41,890. After attracting well over a dozen bids, it sold for a paltry $20,300. Thatβs some severe depreciation, particularly since the car is less than two years old.
Admittedly, it does have high mileage for its age, but 35,500 miles (57,100 km) is still relatively low for a used car, particularly one thatβs worth just a touch over $20,000.
Thereβs no doubt that the arrival of the Model 3 refresh has impacted the resale value of original Model 3s. In addition, Elon Musk and the Tesla brand have become more divisive over the past year or so, due in large part to Muskβs deep involvement in politics.