Latest news with #ModelS.
Yahoo
16-06-2025
- Automotive
- Yahoo
Almost Every Tesla Is Tanking In Value On The Used Market
The effects of economic whiplash are still radiating through different industries thanks to the back-and-forth antics of Trump and his nasty habit of bankrupting businesses. With the average transaction price of a new car reaching nearly $50,000, it makes sense that used car prices are on the rise, in most cases, at least. Prices of used Teslas have been plummeting ever since the company's CEO Elon Musk started publicly going on political tirades, and those values continue to plummet as year-over-year data shows for the month of May. As used car pricing data from our friends over at shows, Tesla's vehicles lost more value year-over-year than any other automaker. The study analyzes 2.4 million one-to-five-year-old used cars sold in May 2024 and May 2025 to identify trends, which shows that four of Tesla's five models topped the list of cars that lost the most value on the used market during that span. Read more: Everrati's Electric Porsche 911 RSR Has Me Driving Into The Future With Open Arms While four of Tesla's models are included in the top 10 models that lost the most value on the used market over the past year, the crown goes yet again to the car that Trump very publicly purchased, the Model S. On average, used Tesla Model Ss lost $8,837 more in value last year than the year prior, which is about a 16% decrease. The average price of a Model S in May 2025 was just $46,503, despite having a base price of $81,380 including $1,390 destination fee. The Tesla Model Y came second with a 14.2% decrease in value, which equates to a $4,945 drop compared to last May. The average price of a used Model Y was just $29,789 on a vehicle that currently costs a minimum of $46,380 including destination. The Tesla Model 3 ranked fifth on the list of vehicles that lost the most value on the used market last year. It lost 10.8% of its value, which equates to $3,078, compared to last May. The average used Model 3 costs $25,361 despite the cheapest new Model 3 long range rear-wheel-drive costing $43,880. Rounding out the top 10 cars that lost the most value on the used market over the past year is the Tesla Model X, which lost 8.9% of its value last year. That equates to a value loss of $5,292, and an average price of $54,004 for the brand's mid-size luxury crossover that when new has a starting price of $83,600 including destination. Iseecars executive analyst Karl Brauer said, "Multiple factors contribute to a used car's value, but being an electric vehicle and wearing the 'Tesla' brand appears to be a double negative." Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
The Age
08-06-2025
- Business
- The Age
Like Frankenstein on steroids, Musk and Trump both created monsters
Sometimes you're better off letting the children fight. That was President Donald Trump's callous wisdom on looking the other way as the Russians and Ukrainians continue to kill each other. But it might better be applied to Trump's social media spat with Elon Musk. It's hard to think of two puer aeterni who are more deserving of a verbal walloping. Their venomous digital smackdown fulgurated on their duelling social media companies, flashing across the Washington sky. In March, Trump showed off Teslas in the White House driveway and bought a more than $US80,000 red Model S. Now, he says he's going to sell it. Thursday was the most titillating day in the US since the sci-fi classic The Day the Earth Stood Still, when a spaceship landed an alien to warn human leaders to stop squabbling like children, or the aliens would destroy Earth. On Friday, Trump tried to convey serenity. 'I'm not thinking about Elon Musk,' Trump said aboard Air Force One. 'I wish him well.' But Trump then jumped on the phone to knock Musk, telling ABC's Jonathan Karl that Musk has 'lost his mind' and CNN's Dana Bash that 'the poor guy's got a problem'. Trump had to know that would be seen as a reference to the intense drug use by Musk, chronicled by The New York Times. As Raheem Kassam, one of the owners of Butterworth's, the new Trumpworld boite on Capitol Hill, assured Politico, 'MAGA will not sell out to ketamine'. The Washington Post reported on Friday: 'Across the government, the Trump administration is scrambling to rehire many federal employees dismissed under DOGE's staff-slashing initiatives after wiping out entire offices, in some cases imperilling key services such as weather forecasting and the drug approval process.' On Truth Social on Thursday, Trump threatened to take away government contracts that have handsomely enriched Musk even though, as Leon Panetta pointed out on CNN, 'some of those contracts, particularly on SpaceX, are very important to our national security.' Musk tried to tie Trump to Jeffrey Epstein, offering no evidence. He shared a post on Epstein that said Trump should be impeached. Trump reposted a message from Epstein's last lawyer, saying the smear was 'definitively' not true.
Sydney Morning Herald
08-06-2025
- Business
- Sydney Morning Herald
Like Frankenstein on steroids. Musk and Trump both created monsters
Sometimes you're better off letting the children fight. That was President Donald Trump's callous wisdom on looking the other way as the Russians and Ukrainians continue to kill each other. But it might better be applied to Trump's social media spat with Elon Musk. It's hard to think of two puer aeterni who are more deserving of a verbal walloping. Their venomous digital smackdown fulgurated on their duelling social media companies, flashing across the Washington sky. In March, Trump showed off Teslas in the White House driveway and bought a more than $US80,000 red Model S. Now, he says he's going to sell it. Thursday was the most titillating day in the US since the sci-fi classic The Day the Earth Stood Still, when a spaceship landed an alien to warn human leaders to stop squabbling like children, or the aliens would destroy Earth. On Friday, Trump tried to convey serenity. 'I'm not thinking about Elon Musk,' Trump said aboard Air Force One. 'I wish him well.' But Trump then jumped on the phone to knock Musk, telling ABC's Jonathan Karl that Musk has 'lost his mind' and CNN's Dana Bash that 'the poor guy's got a problem'. Trump had to know that would be seen as a reference to the intense drug use by Musk, chronicled by The New York Times. As Raheem Kassam, one of the owners of Butterworth's, the new Trumpworld boite on Capitol Hill, assured Politico, 'MAGA will not sell out to ketamine'. The Washington Post reported on Friday: 'Across the government, the Trump administration is scrambling to rehire many federal employees dismissed under DOGE's staff-slashing initiatives after wiping out entire offices, in some cases imperilling key services such as weather forecasting and the drug approval process.' On Truth Social on Thursday, Trump threatened to take away government contracts that have handsomely enriched Musk even though, as Leon Panetta pointed out on CNN, 'some of those contracts, particularly on SpaceX, are very important to our national security.' Musk tried to tie Trump to Jeffrey Epstein, offering no evidence. He shared a post on Epstein that said Trump should be impeached. Trump reposted a message from Epstein's last lawyer, saying the smear was 'definitively' not true.
The Age
08-06-2025
- Business
- The Age
Like Frankenstein on steroids. Musk and Trump both created monsters
Sometimes you're better off letting the children fight. That was President Donald Trump's callous wisdom on looking the other way as the Russians and Ukrainians continue to kill each other. But it might better be applied to Trump's social media spat with Elon Musk. It's hard to think of two puer aeterni who are more deserving of a verbal walloping. Their venomous digital smackdown fulgurated on their duelling social media companies, flashing across the Washington sky. In March, Trump showed off Teslas in the White House driveway and bought a more than $US80,000 red Model S. Now, he says he's going to sell it. Thursday was the most titillating day in the US since the sci-fi classic The Day the Earth Stood Still, when a spaceship landed an alien to warn human leaders to stop squabbling like children, or the aliens would destroy Earth. On Friday, Trump tried to convey serenity. 'I'm not thinking about Elon Musk,' Trump said aboard Air Force One. 'I wish him well.' But Trump then jumped on the phone to knock Musk, telling ABC's Jonathan Karl that Musk has 'lost his mind' and CNN's Dana Bash that 'the poor guy's got a problem'. Trump had to know that would be seen as a reference to the intense drug use by Musk, chronicled by The New York Times. As Raheem Kassam, one of the owners of Butterworth's, the new Trumpworld boite on Capitol Hill, assured Politico, 'MAGA will not sell out to ketamine'. The Washington Post reported on Friday: 'Across the government, the Trump administration is scrambling to rehire many federal employees dismissed under DOGE's staff-slashing initiatives after wiping out entire offices, in some cases imperilling key services such as weather forecasting and the drug approval process.' On Truth Social on Thursday, Trump threatened to take away government contracts that have handsomely enriched Musk even though, as Leon Panetta pointed out on CNN, 'some of those contracts, particularly on SpaceX, are very important to our national security.' Musk tried to tie Trump to Jeffrey Epstein, offering no evidence. He shared a post on Epstein that said Trump should be impeached. Trump reposted a message from Epstein's last lawyer, saying the smear was 'definitively' not true.
Yahoo
29-05-2025
- Business
- Yahoo
Tesla (TSLA) Faces Pressure as Musk Ends Government Advisory Role
Tesla (TSLA, Financials) shares face renewed scrutiny after Elon Musk confirmed the end of his formal advisory role to U.S. President Donald Trump. Musk's term as a Special Government Employee concludes by May 30, raising uncertainty around the future of his cost-cutting initiative, the Department of Government Efficiency, or DOGE. DOGE, which Musk founded, initially aimed to save $2 trillion in federal spending but gradually lowered its target to $150 billion. Though the effort eliminated agencies and prompted tens of thousands of government buyouts, it failed to meet its own savings expectations and drew lawsuits over legal authority and data access. Musk's exit follows sharp criticism of Trump's tax legislation, which he claimed would increase the U.S. deficit. Tesla later issued a statement opposing the rollback of energy tax credits included in the tax package, signaling broader tensions between Musk and Republican lawmakers. DOGE's leadership structure remains unclear. Musk had previously joked about being the chief nothing officer and suggested the effort could function without him. However, three Musk allies Steve Davis, Antonio Gracias, and Anthony Armstrong continue to lead DOGE-related functions at key federal agencies. The initiative has raised conflict-of-interest concerns given Musk's extensive federal contracts across Tesla, SpaceX, Neuralink, and The Boring Co. Critics argue his dual role blurred lines between public policy and private gain. Tesla's Q1 2025 vehicle sales fell to a nearly three-year low, and the stock price dropped as investor concern mounted. The company has also faced vandalism and protests, particularly targeting the Cybertruck, amid Musk's controversial political activity. Despite the fallout, Trump has continued to publicly support Musk, most notably at a White House event where he purchased a red Model S. Musk, for his part, told investors in April he would now focus more closely on Tesla and reduce political spending, saying, I think I've done enough. Investors will be watching how Musk's reallocation of time affects Tesla's operations, particularly amid competitive pressure in EV markets and demand for delivery growth in the second half of 2025. See insider trades for TSLA. This article first appeared on GuruFocus.
