Used Teslas flood second hand market
Nearly 5,000 used Teslas flooded the UK market in February, according to new data from Auto Trader.
It found that 4,822 used Teslas were advertised on its platform last month. This is a 36% increase from December and 70% up on the same month in 2024.
With supply outstripping demand, the prices of used Teslas have fallen dramatically.
The brand occupied three of the five fastest falling spots in last month’s Market View, published by Motors. The Model 3 (three to four years) was down 5.4% to £20,859, the Model Y (two to three years) dipped 4.9% to £29,639, while the Model 3 (four to five years) fell 4.2% to £19,009.
Overall, the average price of used Teslas has now fallen 22% since February 2024. This compares to an 8.2% fall in the wider electric vehicle market.
Lucy Tugby, marketing director at Motors, said:
“Our Market View data shows that ongoing price reductions have encouraged more dealers to add Teslas to their stock mix. With Tesla Model 3 prices averaging £20,300, these vehicles are becoming more affordable for consumers.
“We will closely watch demand metrics as Tesla faces off against an increasing number of EV options from both emergent and legacy brands.”
