Surging demand reported for used Tesla EVs – Marketcheck UK
In May 2023, the average price for a used Tesla was £41,022.50 – in May 2024, it stands at £32,293.75.
Average days on market has fallen from over 147 a year ago, to just 106 in the latest month recorded – another record low.
Sold volume each month has doubled, going from 812 in May 2023, to 1641 in May 2024.
Stock has dramatically increased, almost by 100%. In May 2023, it was 1706 moving to 3376 in May 2024.
Source – https://marketcheck.uk/
| Date | Stock Volume | Sold Volume | Average Price | Average DOM |
| May 2023 | 1706 | 812 | £41,022.50 | 147.75 |
| June 2023 | 1687 | 741 | £40,114.50 | 139.25 |
| July 2023 | 1829 | 807 | £39,413.00 | 139 |
| August 2023 | 1874 | 832 | £38,062.25 | 150.75 |
| September 2023 | 1981 | 908 | £37,754.50 | 152.5 |
| October 2023 | 2025 | 887 | £37,113.50 | 145.25 |
| November 2023 | 2213 | 947 | £35,954.75 | 135 |
| December 2023 | 2249 | 786 | £34,524.00 | 136 |
| January 2024 | 2760 | 1144 | £33,908.00 | 122.75 |
| February 2024 | 2943 | 1267 | £33,272.75 | 117.25 |
| March 2024 | 3189 | 1510 | £33,121.50 | 113 |
| April 2024 | 3259 | 1372 | £32,906.00 | 110.75 |
| May 2024 | 3376 | 1641 | £32,293.75 | 106 |
| Total | 31,091 | 13,654 | £36,112.38 | 132 |
Alastair Campbell of Marketcheck UK commented:
“Anyone on British roads will have noticed the surge in use of Teslas, and many of those were company cars or sold under the EV SalarySacrifice employee schemes.
“As these cars are coming off these deals and entering the used market, the combination of increasing volumes, Tesla’s own price cuts and higher interest rates are driving the sale price of these cars down in the used markets.
“They’re more affordable and private buyers are now starting to pick up some amazing bargains which is leading to the average days on the market starting to fall.
“We have seen 2020 Tesla Model 3s with as few as 65k miles on sale for £16k.
“Considering the performance and technology in these vehicles and the fact that they can be charged for as little as £5 per night this is extremely good value for money.
“There has never been a better time to buy a used Tesla in the UK market.”
About Marketcheck UK:
By tracking data on 650,000 daily car adverts from 11,000 dealers in 14,000 locations, Marketcheck captures an incredible amount of data on the UK used car sector.
Data is matched against the DVLA, SMMT and other sources for normalisation and accuracy.
This includes historical data back to January 2021, broken down by model, price, mileage, days on market, location, website, dealer brand, and so much more. To learn more, visit https://marketcheck.uk/