The Tesla Model Y is in high demand in the People’s Republic of China, as the company struggles to meet the orders. Furthermore, since the Tesla Giga Berlin factory is still not operational, China has to export vehicles to Europe, as well.
The result is an imbalance of demand and supply and customers have to wait for a few months to get their hands on the new Model Y. The higher demand has put pressure on the sale of used Model Y and some of the models are more expensive than their original value.
While buyers are not normally attracted to secondhand New Energy Vehicles (NEV), the scenario is totally different with the Model Y. It is actually selling at a higher price on all pre-used online car classified sites in China.
The 2021 Model Y with a price tag of 276,000 CNY is now being traded at more than 300,000 CNY.
“The vast majority of Tesla Model Y vehicles for sale on multiple online used car trading platforms in China are priced above RMB 300,000 ($47,000), higher than what their owners paid for them in the first place.”
That’s not the only reason why this secondhand model is more expensive than its initial new value. The other reasons are boosted prices of new Teslas and the non-availability of subsidies for the Model Y.
Chinese customers are not only inclined towards the Model Y, they like electric cars more in general. That’s why many other automakers are producing EVs here to meet the demand.
Source and Image: InsideEvs