Which 2022 Tesla Model Has the Best Resale Value?
Tesla has done what so few automakers have been able to accomplish — quickly rise from a fledgling startup to a giant in the automotive landscape. With Tesla’s status as an en vogue choice among EV buyers, a loyal following to the brand, and a lineup of all-electrics designed to be such from the outset, it’s no surprise the brand’s models enjoy high resale values. And among Tesla’s lineup, one stands out above the rest for just how well it holds its value.
The Tesla Model X holds its value better than almost everything on the market
The 2022 Tesla Model X is expected to hold its value over just about every other car, truck, and SUV available, according to Kelley Blue Book’s Best Resale Value Awards of 2022. The awards are based on the expected resale value of 2022 models in five years relative to their original MSRP. KBB states the average new vehicle will retain about 40 percent of its original price over five years, but the Tesla Model X far exceeds that average figure.
KBB predicts the 2022 Model X will return 57.6 percent of its original sticker price in 2027. The 2022 all-wheel drive Model X starts at $98,940, meaning buyers can still expect to sell a Model X for about $56,000 in five years.
Among all 2022 cars, trucks, and SUVs, the Model X’s resale value is ranked seventh overall for the highest five-year resale value, and it’s the only EV to make the top 10. The only other all-electric mentioned in KBB’s study was the Ford Mustang Mach-E, which is expected to hold 38 percent of its value, nearly 20 percent less than the Model X, over the next five years.
The Model X was also just one of two SUVs, the other being the Toyota 4Runner, to crack the top 10 of the highest expected resale value for 2022 models. Six out of the top 10 were trucks — the Toyota Tundra topped the list — with the Chevrolet Corvette landing at No. 4.
Tesla models hold their value well
KBB doesn’t mention the expected five-year resale value for other Tesla offerings — the Model 3, Model S, and Model Y — in its study, but if history is any indication, buyers of the automaker’s products can expect a good return on their purchase when the time comes for something newer. And at least for now, the Model X is the top choice for Tesla buyers seeking the best return on their purchase price.
An intriguing aspect of Tesla’s resale values is how the automaker’s recent price drops will impact the used market. Tesla cars or SUVs bought before the price drops have obviously taken a sharp hit for value, some losing thousands of potential resale dollars overnight. The price adjustments could also impact the long-term resale value of Tesla models, though it remains to be seen whether a lower starting price will help curb depreciation or amplify it over the next several years.
Of course, Tesla is also facing new competition in the upscale EV space as a host of new competition arises from Mercedes-Benz, Audi, BMW, Cadillac, and others. With Tesla no longer among the sole players in the luxury all-electric segment, resale values of the company’s offerings are bound to be impacted in due time as more used EVs from other automakers begin hitting the market.