Shulou(Shulou.com)11/24 Report--

Beijing, December 28 (Xinhua) according to industry data, the price of used Tesla is falling faster than that of other automakers, which has dragged down the demand for Tesla's new car.

For most of the past two years in Tesla's Shanghai showroom, Tesla, the owner of a new car who has been waiting for several months, has an unusual choice: either keep the new car or sell it to people who are less patient to make a profit. But now, these days are numbered.

In November, the average price of used Tesla was $55754, down 17% from a peak of $67297 in July, according to Edmunds, a US auto consultancy. The value of the entire used-car market fell by 4% during this period. In November, Tesla spent an average of 50 days in dealer inventory, compared with 38 days for all used cars.

Tesla used car prices are falling faster due to the conflict between Russia and Ukraine, and gasoline prices are rising, which has boosted the demand for Tesla cars. Tesla is one of the few companies on the market that offer long-range electric vehicles. Tesla himself raised prices faster than other cars, thus improving profit margins. Some buyers of the new Tesla took advantage of the booming market to sell their relatively new cars at a profit and then ordered new cars, boosting demand for Tesla's new car.

Analysts said that nearly 1/3 of the second-hand Tesla sold in August was the 2022 model to be resold, indicating that the original buyer was planning to change hands. By contrast, the proportion of other brands in the secondary market is about 5%, according to research firm Edmunds.

"you can't sell your current Tesla at a price higher than the purchase price, as it has been for most of the past two years," said Karl Brauer, executive analyst at iSeeCars.com, a car sales website. "this will reduce the demand for the new Tesla."

Tesla is not the only one affected. At a time when the global auto industry is in trouble, the US used car market is booming. But now, according to one analyst, the US used car market is now facing a "used car recession" after used car seller CarMax reported an 86 per cent drop in third-quarter profits last week.

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