Not overly concerned to be honest. Tesla increased the price the 2022 Model Y by £3k before mine was delivered, so that handled any immediate depreciation as I instantly had a car that I could have sold for a profit if I was so minded. I wasn’t, I wanted the car. And still do, it’s super practical as well as being a good driving experience. The 2019 Model 3 I sold before it depreciated by £3.5k over 3 years I had it, a mere 7.5%, not bad at all compared to previous cars that typically depreciated around 30%.
Tesla still has the charging network as a huge benefit over other EVs, as they open it up more that will diminish but I’ve not seen any evidence of it having a negative impact yet. Although 90% of my charging is at home so I’m less impacted than others. I also think that the pricing of competitive EVs is reinforcing the fact that Tesla Model Y is actually pretty good value in comparison. I saw the new Volvo XC90 EV advertised yesterday, starting at £96k
The BMW, Mercedes and Audi SUVs are very pricey. So are Polestar. Are they worth the difference in terms of premium quality? Perhaps to some. I’ll take the Model Y package at the price personally.
Longer term I think the things that will more likely have an impact on depreciation are (1) Electricity vs petrol pricing might reduce demand for EVs, which seems counter intuitive as electric should get cheaper not more expensive but recent evidence is the opposite, (2) New tech such as hydrogen fuel becoming mainstream and (3) A society backlash to Elon Musk based on his other business interests or opinions. The power of social media can impact things massively, even if he now owns a chunk of it!