What's happening to used Tesla Model S prices in the UK? (in Sept 2022)

Hi it's Matt here from Go Green Auto. So this is my Tesla Model S. It's a 2014 Model S so over eight years old now, as old as they get in the UK. And in this video I'm just going to talk about the values of these and why they're shooting up. So I was unsure whether to make this video because I didn't want it to sound like I was sort of showing off, boasting or sort of rubbing people's noses in it because a lot of people do get upset when I post videos about the Tesla and I sort of get negative comments saying well you know it's a rich man's toy and if only we could all afford Teslas and all that sort of thing. But funny enough my previous car was a MG ZS EV and I did lots of videos on that car on the channel and when I had that car I used to get lots of comments saying yeah cheap Chinese crap, wouldn't been seen dead in that car, wouldn't buy one of those pieces of junk. But never a comment about the value of the car. However this car only cost a couple of grand more than I sold the MG for. But anyway so what I'm going to do in this video is talk about what I paid for this which is what I didn't really want to discuss and why these have gone up in value and what the current value of these older Teslas are now in the UK market, used market. So this particular car is now eight years old and is now out of warranty and has done 111,400 miles and this Model S is as old as Teslas get in the UK. They came out in 2012 in the States but we didn't get them until 2014. So being a 2014 earliest Tesla it doesn't have any cameras up on the screen, doesn't even have a radar at the front so it's got no autopilot or adaptive cruise control it's just got standard manual cruise control. You can always identify these classic, well they're termed classic Model S now, but the original ones by the black nose cone at the front and this has got an 85 kilowatt hour battery which was huge for its year. Everything else in that sort of era had 22 or 24 kilowatt hour packs. So even though these earlier cars doesn't have the self-driving technology, which personally I don't care, I wouldn't use it if I had it, the main advantage of these older cars is they come with free supercharging. So if I just look on here now and there I last charged at Heathrow London and you can see that I paid nothing for the charge and you get free lifetime Tesla supercharging on the older Model S's. They withdrew that I think in early 2017. Some cars don't have it particularly if they've been part-exchanged through Tesla then Tesla do strip it from the cars but if you're buying a car from a private individual or a private motor trader, i.e. not Tesla, then yes these earlier cars have free unlimited supercharging for life. And with the rising energy costs that's what's making these cars more attractive now because it can save you thousands and thousands of pounds a year. So I've owned this car for just over a year now. I bought it in May 2015, so one year three months ago, and I paid £22,250 for it and that wasn't some cheap motor trade purchase. Obviously I'm in the motor trade, I didn't buy it in the auction or anything like that. I went on AutoTrader, decided I wanted a Model S and this was the cheapest at the time in the country. Fortunately it wasn't too far away, it was a private sale. I went to the chap's house and bought it but it wasn't some special price. That was the sort of price Model S's were a year ago because people were worried of them because they're getting the age where they're starting to drop out of warranty or get into the end of their eight-year warranty. And people weren't appreciating the benefit of free supercharging back then but of course that's all changed now. So let's go on the AutoTrader website. So today's date is the 9th of September 2022. So let's search on Tesla Model S. We'll do national and there's obviously going to be quite a few so I will refine the search down here just to 2014 cars. So we've got nine of them for sale so I'll go at the top here and put them in lowest to highest. So the first one is £26,500 but that's for a category S car so I'm going to dismiss that one now because the value will be artificially low on something that's been an insurance write-off or insurance repairs. So the cheapest one here is 109,000 miles 2014 and it's £30,000. Then we've got another one here 86,000 miles £34,070. Both private sales and then we jump to a trader £35,000 for one with 95,000 miles. Then we've got another one £36,800 very low mileage £37,000 that's a P model performance model. And then we've got another one £112,000 miles same mileage as mine it's £37,500 again that's saying a performance model yeah I guess it is I'm just looking at those wheels yeah. We've got another one here £65,000 miles private sale it's £40,000 another one here £40,100 for a performance model £30,000 miles very low mileage but look at this one £44,500 miles it is a P85 quite a rare model but still only a rear wheel drive not a dual motor. I suspect they're being a bit cheeky here and probably won't get that but yeah would you pay £14,000 more than to have a performance plus rather than a standard I don't know. And then we've got one at £36,800 so if you average all these 2014 models out you the average price is £37,300 so considerably a lot more than the 22 and a quarter I paid a year ago and these prices are just rising you know I've noticed they put sort of £28,000, £29,000 a few months ago now with the changes in electricity prices the value is just rocketing up on these cars. So I do feel fortunate I bought this when I did clearly they were at the lowest end of the market they've ever been not that I knew it at the time but I just had that gut feeling that these weren't going to get any cheaper because all used EVs were rising in value and always have done in the six plus years I've been trading in electric vehicles just because there's an increasing demand and there's just not enough used markets to satisfy all levels of people's budgets. So yeah just very fortunate got this at the time and that's also why I paid to upgrade the MCU2 to the MCU so the MCU1 to the MCU2 computer that was £1,700 so a lot of money but it's transformed the vehicle and I knew I would get that money back and fortunately I was right. This car's jumped up hugely in values in the year I've owned it but then so have all cars even petrol and diesel cars because of the lack of supply of new vehicles because of chip shortages and and the worldwide problems all used vehicles have gone up a lot in value and used EVs have particularly risen that might change a bit now with the energy prices going up there's a lot of negative stories in the press so that's going to affect many people's decisions on jumping to an electric vehicle right now so yes maybe it will slow down a bit over the next year or two currently on new vehicles EVs are about 10% of vehicle sales in Norway they're 50% I think or maybe they're slightly more now but anyway at least 50% so maybe that will slow down a little bit over the next year or two but in the used market I don't think prices of EVs is going to change and for these older Teslas maybe there's a bit more room for them to go up yet still who knows time will tell. So anyway that's it for this video this car's not for sale so I'm not here trying to sell anything and I certainly don't want to make it sound like I'm coming across and boasting about profit in a vehicle because I'm going to keep this for a long time and maybe by the time I sell it it's going to be that much older that many more miles it will probably be worth less than what I paid for it by then I don't know who knows but anyway that's it for this video if you found this video useful do click the thumbs up button as always it helps other people find the channel and I'll see you on the next video