Tesla Model S Values Plummet Amid Market Changes

The Tesla Model 3 has gained popularity since its 2019 launch in Australia, catering to a mainstream audience with its electric drivetrain and modern technology. Tesla offers various Model 3 variants, including the 'Performance' and 'Long Range', with incremental hardware and software updates complicating the purchasing decision. Meanwhile, Tesla's stock has recently declined after a strong earnings report, although the company anticipates growth in delivery volumes for 2024. A notable depreciation issue has arisen with Tesla vehicles, exemplified by a 2022 Model S Plaid that lost approximately $94,540 in value within two years, reflecting broader trends of decreasing used EV prices and consumer sentiment. Factors contributing to this depreciation include ongoing price reductions by Tesla and a perceived decline in product quality. As the market adjusts, some owners express concern about the longevity and performance of their Teslas, further complicating the brand's reputation.