YouTuber Astonished by Tesla’s Huge Value Drop in Just Two Years
Kyle Conner, the YouTube personality behind Out of Spec Reviews, has caused quite a stir online by sharing the shocking depreciation of his Tesla Model S Plaid, which he purchased for $140,000 in 2022.
A man has shared how much his Tesla has depreciated in just two years. Credit: Justin Sullivan / Getty
Conner’s 2022 Tesla Model S Plaid had a base price of $135,990. Additional costs, including $3,500 for color options and $1,450 in fees, brought the total to $140,940. Two years and 37,000 miles later, the car’s appraised value by Tesla is $46,400 — a staggering $94,540 drop, representing 67% depreciation.
depreciation pic.twitter.com/3wZ0I9usYK
— Kyle Conner (@itskyleconner) October 27, 2024
Sharing his frustration, Conner tweeted a screenshot of the valuation alongside the simple caption: “Depreciation.”
Expert Analysis
Auto enthusiast and TikToker Chris Pearce (@thechristopherpearce) dissected the numbers in his own video, comparing the Tesla Model S Plaid’s depreciation to a 2022 BMW M5 CS, a high-performance gas-powered sedan.
@thechristopherpearce
- The BMW M5 CS, priced similarly at $140,000, has retained its value with a minor $10,000 depreciation.
- Pearce noted that reputable platforms like Edmunds and Consumer Reports couldn’t value the Tesla above $59,000.
Pearce summed it up, saying, “Tesla’s depreciation is not normal for vehicles in this price bracket, especially when compared to its gas-powered counterparts.”
The Tesla Depreciation Debate
Adding to the discussion, a report by Diminishing Value Carolina highlighted Tesla’s steep depreciation rate compared to other brands:
- Tesla vehicles depreciate 70 times faster than Chevrolet models.
- Luxury brands like Alfa Romeo and Maserati also experienced steep drops but still didn’t match Tesla’s rate.
Public Reaction
The internet had mixed responses to Conner’s tweet:
- Sarcasm: “Yeah, but he saved like $5,000 on oil and fuel. That should make up the difference.”
- Criticism: “If you can afford a $140k+ car, then you can afford the depreciation.”
- Shock: Many described the depreciation as “diabolical” and “unprecedented.”
Kyle Conner’s Response
Conner expressed frustration over the media’s focus on this story, accusing outlets of a bias against Tesla. He tweeted:
“We posted the most glowing review possible of the new Long Range RWD Model 3… nobody shared. I posted two screenshots about a Model S with a single word ‘depreciation,’ and everyone writes about it. Huge Tesla hate bias in the media.”
One follower rebutted Conner’s claim, writing:
“A $100K depreciation in two years is shocking. A new car refresh is not. This isn’t bias — it’s newsworthiness.”
We posted the most glowing review possible of the new Long Range RWD Model 3… nobody shared
I posted two screen shots about a Model S with a single word “depreciation” and everyone writes about it
Huge Tesla hate bias in the media. https://t.co/cCWFpEPuOU pic.twitter.com/3mYVJecOPi
— Kyle Conner (@itskyleconner) October 30, 2024
Final Thoughts
The story has sparked debates about Tesla’s pricing strategy, the resale value of electric vehicles, and whether the depreciation reflects broader challenges in the EV market or unique issues with Tesla’s premium models. Regardless, Conner’s experience has undoubtedly drawn attention to the financial risks of buying high-priced EVs.
Featured image credit: Justin Sullivan / Getty
