Hybrid and electric cars typically don't hold their value, as electric car technology changes more quickly than iPhones apps. Tesla, however, bucks this trend in the luxury segment, and does very well among its peers. For the 5-year and 7-year periods, Tesla has ranked 2nd behind Lexus. While we just have long-term figures for the Model S, Tesla's success bodes well for current (no pun intended) and future Tesla models. We'll be interested to see how other Tesla models hold up once they've been in marketplace for a longer period of time.
The 2018 is our top pick for the best model year value for the Tesla vehicles. With the 2018, you would only pay, on average, 66% of the price as new, with 83% of the vehicle's useful life remaining. The 2017 and 2016 model years are also attractive years for the Tesla models, and provide a relatively good value. Our rankings consider multiple factors, including original new prices, current prices, maintenance costs and remaining years of overall predictabe expenses. Our top ranked model year represents the most car for the money with a Tesla model.
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We aggregate and analyze millions of automotive data points from a variety of sources, including some of the industry's leading data providers. The historical depreciation tables, charts, values and overall rankings are conducted on a semi-annual basis, with our most recent update published in September 2020.
While the "Useful Lifespan" of a vehicle will vary greatly from one model to the next, and even one owner to the next, we have determined that twelve years is the most appropriate timeframe which will yield us good, usable data - and that any data beyond that timeframe becomes more dispersed, and ultimately less reliable. Moreover, maintenance costs beyond that timeframe become significantly more varied, as a vehicle owner's care of a particular vehicle will greatly impact its value, and ongoing maintenance costs. We are very much hopeful, however, that your car or truck will last well beyond twelve years, and that it gets you to where you want to go.
If you would like to know more about our data and process, check out our FAQ here.