Connect with us

Hi, what are you looking for?

Tesla China
Screenshot taken from Tesla China video.


A Used Tesla Costs More Than A New One In China

The used car market is taking off everywhere!

A used Tesla costs more than a new one in China, CarNewsChina reports, adding that the market is upside down. Demand for Teslas is high while supply of new ones just can’t keep up.

The article noted that the used car market in China has developed pretty quickly thanks to the chip shortage, supply line challenges, and Covid-related issues. Last year, the number of used cars sold rose 22.6% compared with the previous year’s numbers and reached 17.5 million second-hand vehicles.

The cost of used vehicles is also increasing. In the case of Tesla, dealers listed a used Model Y $2,700 higher than a new one from Tesla — and the vehicles had the same trim.

Employees at a dealership in Shanghai told Chinese reporters that they bought the two rear-wheel-drive Model Ys from Giga Shanghai in September 2021 for 276,000 RMB, which is ~$43,575. The cost of a new rear-wheel-drive Tesla Model Y has risen since then to $47,655. For the dealer, which is reselling the vehicle, this may seem like an investment.

CarNewsChina added that Chinese consumers are waiting in line for up to six months to buy a new Model Y. This has caused the cost of a used one to rise over $43,350 or 300,000 RMB at many Chinese dealerships. CarNewsChina has even found a rear-wheel-drive Tesla Model Y with a standard battery that crossed over the $50,000 mark.

For China, the used car market has been growing since 2019, as has the new energy vehicle market. Last month, the value retention rate of new energy vehicles rose to 49.5%, and this was in the midst of reductions of EV subsidies in China, chip shortages, and supply challenges.

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

Johnna owns less than one share of $TSLA currently and supports Tesla's mission. She also gardens, collects interesting minerals and can be found on TikTok


You May Also Like


The auto market in Germany saw plugin EVs take 22.9% share in May 2023, down from 25.3% year on year. Full electrics gained share,...


Recently, we did a story about the 2023 NADA convention and goat roping in Dallas, where Slate correspondent Alexander Sammon got a chance to...


Global plugin vehicle registrations were up 70% in April 2023 compared to April 2022. There were 928,000 registrations, making it possibly the last month...


BYD topped the EV sales charts in Singapore in April. 121 BYDs were sold in April in Singapore, and it looks like BYD sales...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.