Tesla Sales Slow The Least Of All The Battery Powered Electric Vehicles During The COVID-19 Epidemic.
iSeeCars recently analyzed over 1.8 million used cars for sale in February and March 2020 in the U.S. market to determine which models of Electric Vehicles have the most significant slowdown in sales.
The entire EV automotive market decreased dramatically, and as it turns out, among the 15 most-affected models, two in the top five are from the Tesla brand.
In theory, all used electric vehicles that experience a slowdown, especially higher than average, bring high negotiation opportunities.
Of the EV’s, the list shows that the Tesla Model 3 was the most affected, as the percentage of cars sold within a month of being listed decreased by 24.2% from February (71.5%) to March (47.4%).
However, we must add that previously, used Model 3s were selling quite well, and now it’s still far from being the slowest-selling used car. It’s just the difference from high results noted in February.
“The top model with the greatest slowdown in sales between February and March is the Tesla Model 3 electric vehicle, with a drop of almost 25 percentage points from February to March for its inventory selling within 30 days of being listed.
“The Tesla Model 3 is typically in very high demand, and as a result, it is the used car with the best resale value. However, because they are lingering on lots now is the time when dealers may offer more deals than usual.” – iSeeCars CEO Phong Ly”
In the case of the Tesla Model X, classified at #5, the decline from February (57.9%) to March (40.4%) is 17.5%.
“Like the Model 3, the Model X is also in high demand,” said Ly. “The Model X is the most expensive vehicle on the list, with an average price of $70,162 for three-year-old versions. Demand may additionally be lowered because potential buyers could be waiting for the release of the lower-priced Model Y SUV that started deliveries in March 2020.”
iSeeCars Top 15 Cars With Greatest Slowdown in Sales
iSeeCars Top 15 Cars With Greatest Slowdown in Sales iSeeCars Top 15 Cars With Greatest Slowdown in Sales
Rank Vehicle % Sold w/in 30 days Feb 2020 % Sold w/in 30 days Mar 2020 2020 Feb – Mar % Sold diff 1 Tesla Model 3 71.5% 47.4% -24.2% 2 Toyota RAV4 Hybrid 62.2% 41.3% -20.9% 3 Volkswagen Atlas 64.7% 45.3% -19.4% 4 Mitsubishi Eclipse Cross 53.9% 34.9% -19.0% 5 Tesla Model X 57.9% 40.4% -17.5% 6 Chevrolet Spark 62.6% 45.4% -17.1% 7 Toyota RAV4 60.0% 43.2% -16.8% 8 Toyota C-HR 54.0% 37.2% -16.8% 9 Lexus GX 460 58.4% 41.7% -16.7% 10 Honda HR-V 53.0% 36.4% -16.6% 11 Honda Pilot 59.7% 43.4% -16.2% 12 Toyota Highlander 64.1% 47.9% -16.1% 13 Honda Civic 65.1% 49.1% -15.9% 14 Honda Odyssey 63.4% 47.6% -15.8% 15 Honda CR-V 57.8% 42.1% -15.7% Overall Average -9.8%
Used EV Car Prices Lower As Slow-Selling Cars Add To Inventory
The average price of used Model 3 is:
- 1-year old: $45,361
- 3-year old: $41,911
The average price of used Model X is:
- 1-year old: $88,114
- 3-year old: $70,162
Top 15 Vehicles With Greatest Sales Slowdown: Used Car Prices Rank Vehicle 1-Year-Old Average Used Car Price 3-Year-Old Average Used Car Price 5-Year-Old Average Used Car Price 1 Tesla Model 3 $45,361 $41,911 – 2 Toyota RAV4 Hybrid $32,368 $24,334 – 3 Volkswagen Atlas $31,077 – – 4 Mitsubishi Eclipse Cross $17,450 – – 5 Tesla Model X $88,114 $70,162 – 6 Chevrolet Spark $11,962 $10,214 $7,692 7 Toyota RAV4 $24,390 $20,171 $16,399 8 Toyota C-HR $19,727 – – 9 Lexus GX 460 $47,830 $37,420 $29,236 10 Honda HR-V $21,688 $17,670 – 11 Honda Pilot $34,494 $28,123 $19,003 12 Toyota Highlander $30,269 $28,467 $22,561 13 Honda Civic $19,404 $16,439 $12,812 14 Honda Odyssey $33,573 $25,809 $18,974 15 Honda CR-V $26,571 $22,558 $16,752
0 Comments