Supply shortages paired with increasing demand has resulted in extraordinarily long wait times for new Tesla vehicles in Canada and the US.
That has caused the prices of used Teslas to sometimes exceed that of a brand new one, with consumers willing to pay extra to avoid a long wait.
The phenomenon is no longer limited to North America, as used Teslas in China can also cost more than buying new.
According to the Tesla Design Studio, a brand new Model Y Rear-Wheel Drive (formerly Standard Range) costs ¥301,840 (~$60,800 CAD).
Even with a wait time of only around 3 months, a used Model Y RWD at a dealership in China is listed for ¥319,000 (~$64,200 CAD).
Other listings show the Long Range variant is also being listed at prices close to new. (via CarNewsChina)
The used car market in China has seen robust growth, and the number of used cars being sold has risen substantially in the last few years.
Supply chain shortages and other factors increased demand for used vehicles 22.5% last year, for a total of 17.5 million second-hand vehicles in 2021.