Kyle Conner, a YouTuber known for his car reviews, was shocked to discover the drastic depreciation of his Tesla Model S Plaid, which he bought in 2022 for $140,000. Two years and 37,000 miles later, Tesla itself appraised the vehicle at just $46,400, marking a staggering 67% drop in value. Conner shared the news on X, sparking widespread discussion about Tesla’s resale value compared to other luxury cars.
Breaking down the numbers, auto enthusiast Chris Pearce compared the Model S’s depreciation to a BMW M5 CS, another high-performance sedan from the same year. While the BMW’s value dropped by just $10,000, the Tesla lost $94,000 in the same timeframe. A report from Diminishing Value Carolina highlighted that Tesla vehicles depreciate up to 70 times faster than models from brands like GMC or Porsche.
depreciation pic.twitter.com/3wZ0I9usYK
— Kyle Conner (@itskyleconner) October 27, 2024
The revelation sparked mixed reactions online. Some joked about the supposed savings on fuel, with one commenter quipping, “Yeah, but he saved like $5,000 on oil and fuel. That should make up the difference.” Others harshly critiqued Tesla’s pricing, saying, “It’s almost like they were never worth $140k.”
Conner later expressed frustration over the viral focus on his financial loss, suggesting a media bias against Tesla. “We posted the most glowing review of the new Long Range RWD Model 3… nobody shared. I post two screenshots about a Model S with one word—’depreciation’—and everyone writes about it,” he wrote. Despite the backlash, the discussion has brought attention to the broader issue of electric vehicle depreciation rates and their long-term value.
