Three years ago Tesla launched its resale value guarantee program which effectively gave early electric vehicle owners a guaranteed resale price should they decide to sell. Many saw this as a perfect way in which to encourage greater uptake of Tesla electric vehicles but the company has now decided to close this program.
On the surface this may look as though Tesla is effectively cutting adrift buyers of its vehicles but this is certainly not the case. This is a sign of confidence, a positive move and effectively helps to create a liquid and active second-hand electric car market. We will no doubt hear an array of views about this change but make no mistake Elon Musk would never cut his customers adrift. It will be interesting to keep an eye on second-hand Tesla prices in the short, medium and longer term. Let’s face it, Elon Musk does not get much wrong!