Tesla has greatly increased its stock of certified pre-owned cars for sale on its Website as current, and new owners prepare to take delivery of the company’s new Model 3, and it hopes to cash in on enthusiasts and fanboys looking for electric performance on the cheap.
Tesla maintains firm control of its used vehicles, which over time has created a dearth of supply amid steady demand. According to the publication Autolist, that’s helped the Model depreciate more slowly than internal combustion-powered cars. Autolist said the Model S loses just 28% of its original value at 50,000 miles.
The Website Elektrek, which covers the electric car industry, wrote this week that it was rare to find a used Tesla Model S for less than $40,000 from the company in the past.
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“But now,” says Electrek, “Tesla is introducing a new version of the program for high mileage cars. They added dozens of them to their list and several are just over $30,000.”
Tesla said the cars in its program get, “a full inspection, remaining battery and drive warranty,” plus,”a two-year, 100,000 miles maximum odometer pre-owned limited warranty with 24-hour roadside assistance.”
Shares of Tesla have surged more than 62% so far this year on expectations for a strong debut of the Model 3. The stock closed up 1.5% on Tuesday to $352.85.
The bulls are likely to keep riding with Tesla (TSLA) in the near-term.
Sales expectations for the upcoming Model 3 are too low given likely high consumer interest, Pacific Crest analyst Brad Erickson said in a note on Tuesday. “If the car is perceived as awesome, already low second half 2017 buy-side expectations will actually fall. Under this scenario, we believe downside risk from significant production shortfall would likely be minimal.”