Tesla was the big loser as their average used vehicle price dropped to $31,733, which was a decline of $5,013 or 13.6%. Maserati posted a larger price drop of $5,208 but that’s only down 10.6% from a year ago. Chrysler finished off the loser’s podium as their used vehicles lost $2,058 or 7.6% compared to last year.

Elon Musk, the company’s chief executive, is fast losing out to Chinese electric carmakers in Tesla’s second-most-important market.

Tesla is set to unveil a more affordable vehicle in the first half of 2025. Details are scarce, but new reports say it could take after the Model Y.

The electric carmaker’s warning about tariffs comes despite its boss's key position in the Trump administration.

Tesla has lost share to Chinese competitors, while Elon Musk’s political activities have led to steep declines in Tesla sales in Europe.