The Tesla Model 3 saw a drastic average price drop of 22.6% from 2023 to 2024, leading significant changes in the used car market.
The average price of a Tesla Model 3 decreased from $37,548 to $29,045, indicating a substantial loss in value compared to other vehicles.
While current Tesla Model 3 owners may face depressed trade-in values, bargain hunters benefit from a significant increase in affordable used cars under $20,000.
Overall, the used car market has shifted, demonstrating an increase in affordable options with lower average mileage, contrasting sharply with the pandemic pricing era.
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