Do you want to buy a used Tesla? Better act fast, here's how long they last on average on the market
Electric vehicle leader Tesla Inc TSLA recently released quarterly financial results that saw second-quarter deliveries and production up 27% and 25% year-over-year, respectively. 'other.
Analysts pointed out that the company was not lacking in demand and was limited only by supply chain issues and its own ability to increase production.
The company's demand also appears in a recent used car study.
What happened: Tesla has the fastest-selling used vehicle model according to a new report from iSeeCars, as reported by Teslarati.
In June, used cars lasted an average of 52.1 days on the market, compared to 50.4 days on the market in May.
The study, which analyzed more than 224,000 new and used vehicles sold in June, showed that used car prices increased by 10.5% in June 2022 on an annual basis at $34,154. per vehicle. The figure also increased slightly from $34,119 in May 2022.
The lowest-selling used car at the lowest time on the market was the Tesla Model Y according to the report, averaging 24.9 days on the market in June 2022 and priced at $69,784.
Here are the ten best-selling used cars in June:
1. Tesla Model Y: 24.9 days, $69,784
2. Toyota Prius Prime: 25.1 days, $31,867
3. Ford Mustang Mach-E: 26.8 days, $60,881
4. Toyota Prius: 27.0 days, $28,029
5. Tesla Model 3: 27.7 days, $52,216
6. Tesla Model X: 28.0 days, $90,089
7. Mazda3 Sedan: 28.8 days, $24,890
8. Kia K5: 28.8 days, $24,890
9. Toyota Highlander Hybrid: 32.3 days, $45,521
10. Honda Acura ILX: 32.6 days, $26,182
Related link: Tesla Q2 Earnings Highlights: Lack of Revenue, EPS Beaten, Bitcoin Converted to Fiat, "Record" for the second semester
Why it matters: In addition to listing the three Tesla electric vehicles, it also introduces other popular electric vehicle models such as Ford Motor Company F and Toyota Motor Corporation TM.
Tesla not only ranked first on the list, but also saw the resale price of Model Y used vehicles exceed the listing price of the vehicle. A new Tesla Model Y AWD Long Range is $65,990 and the performance model is $69,990.
Estimated delivery date is one of the major factors likely contributing to Model Y resale delays and high prices. The AWD long range Model Y has an estimated delivery time from January to April 2023. The performance model has an estimated delivery time of August to October 2022.
Given the long wait for new models, Model Y used sales may continue to show high resale prices and fewer days on the market.
The Tesla Model Y ranked 19th in sales for all vehicle models in 2021. Popular Twitter account Sawyer Merritt argued that the Model Y could surpass the Model 3 by the end of 2022. Model 3 ranked ninth in 2021 with 508,000 units sold.
TSLA Price Action: Tesla shares fell 1% to $805.30 on Monday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Electric vehicle leader Tesla Inc TSLA recently released quarterly financial results that saw second-quarter deliveries and production up 27% and 25% year-over-year, respectively. 'other.
Analysts pointed out that the company was not lacking in demand and was limited only by supply chain issues and its own ability to increase production.
The company's demand also appears in a recent used car study.
What happened: Tesla has the fastest-selling used vehicle model according to a new report from iSeeCars, as reported by Teslarati.
In June, used cars lasted an average of 52.1 days on the market, compared to 50.4 days on the market in May.
The study, which analyzed more than 224,000 new and used vehicles sold in June, showed that used car prices increased by 10.5% in June 2022 on an annual basis at $34,154. per vehicle. The figure also increased slightly from $34,119 in May 2022.
The lowest-selling used car at the lowest time on the market was the Tesla Model Y according to the report, averaging 24.9 days on the market in June 2022 and priced at $69,784.
Here are the ten best-selling used cars in June:
1. Tesla Model Y: 24.9 days, $69,784
2. Toyota Prius Prime: 25.1 days, $31,867
3. Ford Mustang Mach-E: 26.8 days, $60,881
4. Toyota Prius: 27.0 days, $28,029
5. Tesla Model 3: 27.7 days, $52,216
6. Tesla Model X: 28.0 days, $90,089
7. Mazda3 Sedan: 28.8 days, $24,890
8. Kia K5: 28.8 days, $24,890
9. Toyota Highlander Hybrid: 32.3 days, $45,521
10. Honda Acura ILX: 32.6 days, $26,182
Related link: Tesla Q2 Earnings Highlights: Lack of Revenue, EPS Beaten, Bitcoin Converted to Fiat, "Record" for the second semester
Why it matters: In addition to listing the three Tesla electric vehicles, it also introduces other popular electric vehicle models such as Ford Motor Company F and Toyota Motor Corporation TM.
Tesla not only ranked first on the list, but also saw the resale price of Model Y used vehicles exceed the listing price of the vehicle. A new Tesla Model Y AWD Long Range is $65,990 and the performance model is $69,990.
Estimated delivery date is one of the major factors likely contributing to Model Y resale delays and high prices. The AWD long range Model Y has an estimated delivery time from January to April 2023. The performance model has an estimated delivery time of August to October 2022.
Given the long wait for new models, Model Y used sales may continue to show high resale prices and fewer days on the market.
The Tesla Model Y ranked 19th in sales for all vehicle models in 2021. Popular Twitter account Sawyer Merritt argued that the Model Y could surpass the Model 3 by the end of 2022. Model 3 ranked ninth in 2021 with 508,000 units sold.
TSLA Price Action: Tesla shares fell 1% to $805.30 on Monday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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