Published on April 15th, 2017 | by James Ayre0
Used Tesla Model S Sedans Sell Faster Than Competitor Offerings, Survey Shows
April 15th, 2017 by James Ayre
A recent survey from the used car shopping platform Autolist.com revealed something interesting — used Tesla Model S sedans sell faster than comparable offerings from competitor luxury brands. Actually, they sell faster than any of the other models included in the survey.
In some cases, used Teslas sell considerably faster, and they sell about 5% faster than the average for the “peer group” (BMW 6 Series, Audi A7, Mercedes-Benz CLS, Porsche Panamera, and Lexus LS 460). On average, used Tesla Model S sedans apparently take “only” 87 days to sell, according to the survey.
Speed of sale wasn’t the only thing better for the Tesla sellers. Also interesting was the survey finding that list prices for “were between 3% and 5% above their peer-group average for the past year, after controlling for price differences among the models,” as reported by MarketWatch. That is, Tesla Model S sedans are selling for more than they “should” when you compare them to other models in the class.
“We would expect top-performing vehicles in a peer group to have prices (about) 2% above our adjusted expectations for the segment. But 3% to 5% above, and maintaining that level of performance over the past year? That’s surprising,” commented Alex Klein, Autolist.com’s vice president of data science, in an email to MarketWatch.
To be fair here, though, this may well have something to do with Tesla’s comparatively transparent approach to pricing. Practically no one actually buys new vehicles from other auto manufacturers for the list price (only those who are getting ripped off do so). Tesla buyers do have to stick to the company prices when buying new.
MarketWatch provides a bit more: “Top-selling GM and Ford models, including the Ford F-150 pickup truck (the No. 1 vehicle sold in the US), the Chevrolet Silverado 1500 pickup, the Chevrolet Malibu and the Ford Fusion, have seen prices hover between 1% below and 1% above their peers over the past year, Autolist.com said. … The GM and Ford models also cooled their heels on used-car lots and in owners’ garages for longer: 104 days for the F-150, 103 days for the Chevy Malibu, and 88 days for the Ford Fusion.”
Interesting findings. Though, it’s hard to tell what exactly they mean — other than that there’s pretty strong demand for used Tesla Model S sedans, that is. I wonder if demand for used Tesla Model 3s will be this strong as well?