Model 3 value ‘hard to beat’

CAP hpi believes Tesla’s new Model 3 could be a very canny investment, with its low retail price and the fact that used Teslas hold their value better than almost any other car on the market.

The Model 3 will be available for £24,423 by the end of next year but pre-orders have already broken the quarter-million barrier.

Jeff Knight of cap hpi said, ‘The Model 3 price point is proving very attractive to a wider range of consumers, with over 276,000 buyers globally already putting down a deposit. Our research shows that Tesla vehicles hold their value on the used car market very well indeed.

‘In fact, Tesla used car values were virtually static last year, which is very unusual, and suggests a growing interest in electric vehicle technology as well as demand for the Tesla brand.

‘The launch of the Model 3 will see more Teslas entering the second hand market in a couple of years and it will be very exciting to see the impact these have on the market.’

He continued, ‘Tesla owners tend to be passionate about their vehicles and the benefits they bring, willing to adjust their lifestyle to fit around accommodating the charging of them.  Superchargers, offering free Wi-Fi and allowing owners to send emails and even work in the car to make the most of downtime, are proving highly favourable and perceived to be an advantage.

‘The lower price tag on the Tesla Model 3 can only boost the popularity of this brand, which is already one of the best investments on the road, today. For anyone looking to buy a smart car with green appeal, the Tesla is great value and by 2017 it will be hard to beat.’