Tesla Values Drop, Contradicting Musk's Prediction of Appreciation
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Elon Musk claimed in 2019 that Teslas would appreciate in value post-purchase, but the opposite has happened.
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Tesla Model 3 prices have fallen by $6,000 despite briefly surging during the pandemic.
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Teslas have largely depreciated in value over time, contrary to Musk's prediction.
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Tesla cut prices by 25% late last year to boost sales amid rising competition, but its EV market share has dropped from 80% to 56%.
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One Cybertruck was resold for up to twice its value, but rust spots developed after rain exposure, highlighting durability issues.