The Model 3 will retain its value as well as any car in its class, according to a new report from automotive search engine Autolist.
To attempt to forecast Model 3 depreciation, the company looked at the Model S, it’s competitors, and their in-brand counterparts. If the Model 3 tracks analogously with the Model S, the projected trajectory would be best in class. Autolist previously pegged Model S depreciation at 28% after 50,000 miles.
As part of the report, Autolist surveyed more than 14,000 individuals and learned that their top concern when considering an electric vehicle is battery range (34%) followed by price (25%). The Model 3 takes aim at both of those considerations.
According to the findings, 57% of individuals would not hesitate to purchase an EV with a range of 300 miles. Willingness to purchase is 30% less when that range drops to just 250 miles.