Automotive YouTuber Kyle Conner purchased a Tesla Model S for $140,490 in 2022, only to find its trade-in value drastically reduced two years later. Tesla offered $46,400 for the vehicle with 37,000 miles, representing a 67% loss. Comparisons to similar gas-powered cars highlight the stark difference in resale values.
In 2022, Kyle Conner, a popular YouTuber known for his channel Out of Spec Reviews, invested $140,490 in a high-end Tesla Model S, positioning it as a performance electric sedan. By 2024, after accumulating 37,000 miles, Conner sought to trade in the vehicle. Tesla's appraisal came in at $46,400, resulting in a loss of approximately $94,000, or 67% of the original value.
TikToker Chris Pearce analyzed the invoice in a video, noting the rapid depreciation. He stated: “So with just 37,000 miles on the odometer, Tesla offered him a whopping $46,400. That’s a loss of $94,000 or 67% of its original value.” Pearce suggested that while Tesla's offer might be a lowball, independent sites like Edmunds and Consumer Reports valued the car at no more than $59,000.
To provide context, Pearce compared it to a 2022 BMW M5 CS, a comparable performance sedan also priced around $140,000 at launch. He explained: “The BMW M5 CS came out in 2022, the same year, for around $140,000... If you go on any of those sites I mentioned, you can buy the M5 CS for $140,000 today. Meaning this car has depreciated maybe $10,000.”
Conner expressed frustration with media coverage, tweeting: “We posted the most glowing review possible of the new Long Range RWD Model 3… nobody shared I posted two screen shots about a Model S with a single word ‘depreciation’ and everyone writes about it Huge Tesla hate bias in the media.”
The incident underscores concerns about Tesla's resale values, though Conner may have received more through private sale. UNILAD reached out to Tesla for comment but received no response.
