Despite government support, the Tesla Model Y has not been a good business. A new study reveals wild losses in value for the world's best-selling car.
There are plenty of them. Even here at home, where the Tesla Model Y was the country's best-selling new car in 2024. But owners have to suffer huge losses in value.
This is shown by a new Swedish survey that Privata Affärer is behind.
Anyone who bought a new Tesla Model Y three years ago has lost an average of 7,000 Swedish kronor every single month. This corresponds to 4,600 Danish kronor.
And even though the cars that Privata Affärer has looked at were all purchased while the Swedish state was still supporting the purchase of new electric cars, the loss in value has not just stayed relatively still.
The Swedes themselves even believe that the loss in value is low. It is calculated solely based on what the cars are currently selling for at the country's car dealers, and not the price for which the cars may have been exchanged.
And although one should generally expect massive losses in value on new cars, not all drivers have necessarily made a bad deal.
The same study shows that the Toyota Corolla has held its price remarkably well over the same period. Several of the cars have not lost any value at all after 3 years.
The larger RAV4 has only had marginal losses in value. But Privata Affärer also points out why Tesla in particular is falling in price. The Swedes believe it is due to the American brand's 0-year interest rate and that electric cars are extremely expensive to insure.
In a Swedish city, a Model Y can easily cost 50,000 Swedish kronor to insure for a year. That's the equivalent of 33,000 Danish kronor. And that's not a particularly Swedish phenomenon. Because here at home, the prices are eerily similar. Read more about it here .
