The Tesla Model 3 is now considered the best-selling used car in the US, and it is so popular that it even sometimes sells for higher prices than new.
The current chip shortage affecting the auto industry has trickled down to the used car market.
It can be so difficult to get a new car due to limited production that many have turned to the used car market, and inventories are now low there too.
On top of it, electric cars have always done relatively well in the used car market because of the scarcity, but they have been facing an uphill battle.
Incentives for new electric car purchases have resulted in automatically lowering the resell value since buying the same car new in the US would come with a $7,500 tax credit.
Since Tesla has hit the 200,000-delivery threshold in the US and lost access to the credit, it helped with its used price value.
Combined with the chip shortage, it’s creating a perfect storm that has made Tesla vehicles, and especially Model 3, the best-selling used cars on the market, according to iSeecars.
The firm’s latest study shows that used Model 3 vehicles take an average of only 16 days to sell, which is about half of the industry average and almost four days faster than the second best, the Mitsubishi Outlander.
Here are the top 10 best-selling used cars in the US for September 2021:
As you can see, the average price is also quite high considering the new Model 3 starts at $42,000 in the US, and that’s following several recent price increases.
Some of the few used Model 3 left on Tesla’s website are going for quite impressive prices:
For example, Tesla is selling a 2019 Model 3 Long Range All-Wheel-Drive with just over 9,000 miles on it for $60,700.
New in 2019, this car started at $49,900 plus $1,000 for the deep blue color, $1,500 for the 19″ wheels, and $6,000 for the Full Self-Driving package, which adds up to $58,400.
Considering these prices are not negotiable at Tesla, it appears the automaker is selling this used Model 3 for more than it sold it new just a few years ago and it’s not the only example.
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.