Tesla Model 3 is the most used car in the US for the fourth month: study
The acute shortage of new Teslas cars (and any new ones, really) has been exacerbated by Global chip shortageThe popularity of used Tesla cars continues. The electric car maker’s entry-level sedan, the Model 3, has been the fastest-selling car in the used-car market for four months in a row, according to new analysis Through the car research site iSeeCars.com.
In September, a lightly used (one to five years) Tesla Model 3 took an average of 16 days to sell, faster than any other vehicle surveyed by iSeeCars. According to the study, the number of days a Model 3 has typically been on the market is half the time it takes an average used car to sell.
The second fastest selling used car in September is the Mitsubishi Outlander, which took an average of 19.7 days to sell. Outlander is followed by a Toyota Prius (20.7 days) and a Honda Insight (21.2 days).
Used versions of Tesla’s luxury SUV, the Model X, ranked 9th on the list, taking an average of 22.9 days to sell.
“The Tesla Model 3 has remained popular since its highly anticipated debut, thanks to impressive technology and performance at a relatively affordable price compared to previous Tesla vehicles,” said Karl Brauer, iSeeCars executive analyst.
While gently running cars are an affordable alternative to new cars on the regular market, the lightly used Model 3 doesn’t come any cheaper than the all-new model right now. In September, the average Tesla Model 3 sold for $47,453. The new Standard Model 3 range starts at $37,690 (after potential tax and gas savings) on Tesla’s website. Long-range and performance versions start at $45,690 and $53,690, respectively.
If you’re lucky (and have a generous budget), you can score a used Model X for a small retail price cut. The average Model X sold for $80,636 in September, according to iSeeCars. An all-new long-range version of the same car starts at $94,690.
Foreman I mentioned recently Prawer said that nearly all Tesla models are sold out through the end of 2021, which “adds to the already high demand for used versions, some of which are sold at higher prices than the new ones.” “Car buyers are willing to pay more than the MSRP of new cars and very high used car prices because they have embraced the fact that the inventory shortage is there to stay for the next several months.”
According to Tesla’s website, the standard Model 3 range currently has a waiting period of six months. The same applies to the Model Y Long Range and Model S. The Long Range Model X is not available until May or June 2022.
The iSeeCars study analyzed more than 900,000 new and used cars sold in September. On the new car side, the fastest-selling model of the month was the Suburu Crosstrek, which has been on the market for an average of 7.8 days. The top spots were also occupied by the Chevrolet Corvette (8.6 days), Suboro Forester (9.5 days) and Toyota Sienna (9.6 days).
Tesla cars were not included in the new car study because Tesla does not release its monthly sales numbers. The company provides quarterly delivery and sales reports only.
In the third quarter Tesla 241,300 vehicles delivered Globally, a new record, despite the impact of the global chip shortage. Analysts attributed Tesla’s strong third-quarter delivery to Tesla’s high gross margin (which should have helped it secure chip supplies), its modern manufacturing process, and its booming business in China.
Stock analysis firm Trefis said in a report on Monday. “The current shortage of chips in the automotive field is largely due to the fact that the semiconductor industry has moved production capacity from older, tried-and-tested chips used by automakers to more modern chips with more advanced processing technologies. More modern vehicle engineering could help Tesla to adapt to the current situation more quickly.”