Why has Tesla depreciated so much since 2023? Could any of the depreciation be due to the character that is Elon Musk and his antics?

As someone who bought a 2023 Model Y 7 seat Long Range, I can tell you my desire to sell the car was 100% because of the negative brand value caused by Musk.

I’m not able to sell it because I’m currently $17,000 underwater on it and can’t afford to dump it, but I would if I had $17,000 to lose. I have a friend who did just that.

I love my Tesla (for the most part, it has some basic annoyances that remind me that building and testing a car for California is not the same as building it for everywhere), but as someone who tracked the depreciation of my own Tesla, it started plummeting when Musk decided to buy Twitter and spend his time exonerating the alt-right, and culminated with his foray into public policy.

I don't think that's the case. I was looking at some used Chevy Bolt models, and they can be found for quite cheap. I found a nearby 2022 model with only 20,000 miles on it listed for $19,000. I'm pretty sure I can negotiate the price down a bit, too.

> Why has Tesla depreciated so much since 2023?

Prices were high, then the credit came back and Tesla slashed prices. Those of us who bought a 2023 got hosed pretty hard.