Tesla’s Model S is the best offering from the automaker to date and is among the safest, fastest cars ever built. For this reason, it has grabbed a lot of media attention as well, and now there is another feather to its cap. The latest CAP Black Book claimed that among all the cars in the U.K. market at present (be it electric, gas, diesel or otherwise), the resale value of Tesla is higher.
Buying a Tesla car – a smart investment
Tesla’s high resale value is despite the fact that Tesla cars enjoy a premium price tag, landing them in the same league of expensive cars having broader tendencies of depreciating faster. According to Jeff Knight at CAP, investing in a Tesla vehicle is a smart decision in today’s market, but it is meant for people who are interested in buying an executive car with green credentials and have no issues with the charging regime.
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Knight said that Teslas are relatively rare in the U.K. at present, and most of its buyers are either passionate enthusiasts or business fleet buyers. This meant that the second-hand vehicle needs an investment in the range of £10,000-20,000 on optional equipment to help retain the car’s value in the used car market.
“At Black Book, we have held Tesla values static for a year now, which is highly unusual,” Knight said.
Fit for most buyers
The CAP Black Book not only praises the Tesla Model S for its resale value, but it also describes the vehicle as the green motoring choice for a serious car buyer who has a decent budget and a keen interest in investing in the latest electric vehicle technology.
Many will agree that the Model S is not just meant for EV fanatics but rather that it is for each and every person who wishes to own a nice car. There is a widespread belief that the Model S is the best mass-produced car ever. People are clearly in love with the vehicle for the simple reason that it holds its value.
“Many Tesla owners alter their lifestyle to fit the charging regime, because they are that passionate about the benefits of their vehicle,” Knight said.
On Wednesday, Tesla shares closed down 2.19% at $231.99. Year to date, the stock is up by over 4% while in the last one month, it is up by almost 9%.