Will consumers buy a used Tesla Model 3?

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CARY, N.C.  - 

Tesla has ramped up its used-car sales this year, and based on discussion in its latest quarterly earning filing with the Securities and Exchange Commission, it is expected to continue emphasizing this area of its business.

But are consumers ready to go used with these electric vehicles?

That’s a tough question, and one that Kelley Blue Book addressed with a Quick Poll on the Tesla Model 3, specifically, last week.

In a poll that generated 1,857 votes, KBB asked consumers if they would be willing to buy a used Model 3. Seventy-five percent said no, and 25 percent said yes.

In a second question (run independently of the first), KBB asked consumers what would prevent them from buying a used Model 3. The most-often cited response was “warranty” at 31 percent.

Sixteen percent listed “other” as their reason why; 14 percent said they didn’t have a concern buying a used Model 3; and 13 percent cited cost.

Nine percent mentioned concern over remaining battery lifespan, 7 percent weren’t sure where to buy a used one, 5 percent expressed range anxiety and 5 percent had concern over quality.

The second question generated 1,146 votes.

Quick Poll on wait time for new Model 3

In a separate Quick Poll, conducted Sept. 18-22, KBB asked consumers this question: Given the current waiting list for the Tesla Model 3, what is the maximum time you would be willing to wait if ordering one today?

Their survey generated 1,181 responses. Fifty-two percent were not interested in this vehicle, but KBB emphasized that 48 percent is still a solid number of folks interested.

When the non-interested were excluded from the results, KBB found that 35 percent were willing to wait a month for the Model 3, another positive sign for interest in this vehicle. Within that same group, 17 percent were willing to wait three months, 16 percent were willing to wait six months and 14 percent would wait a year.

Interestingly enough, 8 percent said they would wait two years, but 10 percent said they would wait more than two years.

 

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