Are you currently in the market to buy (or sell) a Tesla Model S in Ibadan? Vehiclus surveyed the local used automotive market of all cities in Nigeria to determine a pricing profile of various Tesla models depending on their age, technical condition, optical condition, and mileage. In order to maximize your profits when selling your Model S (or to be certain to not be ripped off when buying a Tesla Model S) it is useful to learn all price-determining variables.
Ibadan is a city with a population of 3565108 inhabitants. Nevertheless, there are not many Tesla Model S for sale on the market. Hence, the supply is little and the demand depends on various of factors e.g. car model reputation, mileage, and brand competetivness.
As shown below, cars of the car manufacturer Tesla and especially of their model Model S loose their value in a very customary way. The average selling price of the Model S will be decreased by up to 14% ($69,196) after only 1 year. After three years, the car typically costs only 61% of its initial selling price ($49,866) while it will only be priced at 28% of the original price after 7 years ($22,414). The Model S's value after twelve years is only 13% of its first price depending on its condition of course.
Another way to analyze car depreciation is to look at the decrease of value over mileage. The Tesla Model S depreciation curve below illustrates this phenomenon for the city of Ibadan. The Model S looses most of its resell price (approximately 50%) within the first 20,000miles (30,000km) driven. The typical price for a Model S at that usage level is $44,358. After that the devaluation slows down: at 90k kilometers the Tesla Model S is valued for $25,830 in Ibadan and for $12,799 at 180k km .
The last parameter that heavily determines the selling price of a used car is the technical and optical condition of the vehicle. The table below shows the devaluation of a Tesla Model S according to its year and its condition.
|Vehicle Year||Tesla Model S Condition|
|Tesla Model S variations:|