The Tesla Inc TSLA Model Y, after receiving an order page refresh, has been awarded the Autovista Group Residual Value Award for 2023 in the Compact and Large Battery-Electric Vehicle (BEV) SUV category, beating a competitive line-up of European contenders.
Attributes such as an efficient driving range of over 400 km (250 miles), a robust supercharger network, and a minimalist design bolstered the vehicle’s position as a residual value champion. Strong brand recognition and consistent performance also cemented the Model Y’s reputation as a reliable and valuable EV.
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Among its competitors were the Skoda Enyaq, Audi Q4 e-Tron Sportback, Volvo EX90, and Volkswagen ID.4, all of which demonstrated commendable residual value performance. However, according to Christof Engelskirchen, chief economist at Autovista Group, the Tesla Model Y emerged as the standout. “This Award confirms our internal data and what our partners across Europe are telling us: Model Y is a safe investment,” a Tesla spokesperson told Autovista24.
Tesla credits the Model Y’s robust value retention to its innovative product development, including over-the-air updates that provide customers with new and improved features. Durability also plays a significant role in the EV’s success, with Tesla batteries losing just 12% of their original capacity after approximately 320,000 km (200,000 miles) on average.
Analysts from Autovista Group based their award decision on used-car market data from February to April 2023. The Model Y’s residual value performance was particularly notable in France, Italy, Portugal, and Hungary. Jose Pontes, data director at EV-volumes.com, described the Tesla Model Y as the “default choice” in its segment, praising its efficiency, range, and dependability.
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Photo courtesy of Tesla
Image and article originally from www.benzinga.com. Read the original article here.