Sold just recently was the blue 2024 Tesla Model 3 Long Range, obtained for a One-Year Road Test in March 2024. Though the assessment came out at only $31,000, the vehicle cost $60,630 originally, a rather major financial loss. Just $31,000, more than $17,000 less than the $48,630 originally spent for it, just over half the original value of $60,630 of the Tesla Model 3.
Regarding the pricing, it is important to bear in mind a caveat: although the Manufacturer’s Suggested Retail Price (MSRP) of the automobile was $60,630, the actual amount paid was $48,630. Tesla had a promotion that let the Full Self-Driving (Supervised) software be moved from a 2020 Tesla Model Y Performance to this new vehicle free of cost, therefore explaining this discount. Usually $12,000, this software choice brought the price of the Tesla Model 3 to $60,630, its whole retail value, without this unique promotion.
Hence, technically speaking, the car lost almost $30,000 in value during the time of ownership. It should also be noted that only 10,164 miles were driven in the Model 3. This costs $2. 92 per mile or $1. 71 per mile without considering the cost of the Full Self-Driving Supervised capability. This is admittedly a major loss, yet it should be underlined that the circumstances were not as terrible as those with the Fisker Ocean.
The depreciation is unfortunate news for people who were looking forward to selling their Tesla and earning from it. Tesla has reduced the cost of the full Self-Driving option to only $8,000 since it got the car; additionally, there is now a more economical rear-wheel-drive Long Range model. Buying a new Tesla Model 3 has hence become much less expensive for people than it was last year.