According to a new report from Kelley Blue Book, the Tesla Model 3 will retain its value better than the competition.
The California-based vehicle valuation and automotive research company released its 2019 Best Resale Value Award Winners and Model 3 topped the electric vehicle category – though it would have also taken the top positions in other categories if it would have been included.
The Kelley report stated, “The Tesla Model 3 has a cultural magic and desirability that made people willing to wait months and even years to own one. People don’t like Tesla Model 3s — they crave them — and that’s how you hold on to your resale value over time.”
Kelley Blue Book projects a resale value of 69.3% at 36 months and 48.7% at 60 months for Model 3.
The company bundles all electric vehicles together instead of making them compete with their gas-powered equivalent. But if Model 3 were included in either the “luxury car” or “midsize car” categories, it would have topped both of them by a wide margin.