The used car market is at a record high across the globe, due largely in part to the Pandemic and mainly due to the global microchip shortage. Although this microchip shortage has become a huge inconvenience for people who are looking for specific hardware parts such as computer parts or new cars – this has led to an extremely competitive and lucrative used car market. This is especially true for those looking to sell their current car in order to make a better return on their investment, reduce the amount of depreciation or if they are looking for a different car entirely.

Tesla has seen a shortage in terms of global delivery of new vehicles, which has also seen an increase in the cost of used Teslas. This means that it is a great time to consider selling your used Tesla, as you can wait until deliveries become available again should you be looking to upgrade or change your car. You may even be looking at different alternatives compared to owning a car altogether – which is another reason why you may want to sell your vehicle.

How & Why Did the Global Microchip Shortage Happen?

A new car typically uses 1000 microchips or more in their modern computer interface alone so this goes to show how much a shortage can and did affect production across the start of the Pandemic and beyond. At the start of the 2020 Global Pandemic, microchips were directed away from the automotive industry and instead sent to hardware such as computer equipment and other devices. This is because of the fact that the shifting from the office or other working areas to working from home drove a huge demand for computing and electronics and drove the demand away from needing a new vehicle. Now, the automotive industry is trying to catch up, and Tesla is no exception.

Tesla Manufacturing Challenges in Europe

Tesla enjoyed eye-watering stock price increases in 2021 due to the fact that Hertz reportedly ordered 100,000 EVs in Q4 of 2021. However, sceptics of the overall global vision of Elon Musk and Tesla as a whole have questioned their ability to deliver to huge orders and match global demand. The Tesla Model 3 was the top-selling EV in the European market in 2021, and the demand for Teslas globally is not expected to reduce anytime soon. A Gigafactory was created and commissioned, and although not opened, it has been producing Model Ys and is the first Tesla production plant in Europe. It’s also set to be the most advanced and sustainable factory that exists. This shows the global interest that the company is envisioning outside of the US. This is likely to continue to be invested in during this decade and beyond.

Selling your Tesla in 2022

Selling Your Used Tesla Vehicle

With the massive demand for new Tesla vehicles, it’s also clear that there is a huge and growing demand for used Teslas. This is why it’s a great opportunity in terms of the markets to consider selling your used Tesla vehicle. There are purpose-built online valuation tools such as the specific valuation tool that we developed, which provides you with an accurate valuation for your Tesla. In fact – our Tesla Valuation Tool is unique in that it will give you an actual valuation which you can then go ahead and agree with.

It’s certainly a seller’s market currently, so it’s highly important that you use a valuation tool and think about selling your used Tesla vehicle if you are looking for a change. With increased buying rates at the moment – you can expect to get a better return and less depreciation to pay for when it is time to switch your vehicle.

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