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So how’s this for a big piece of news in the electric vehicle Market: the Tesla Model Y was the top-selling vehicle in the world for 2023. Beat Corolla, beat F-150, beat everybody based on registrations.

China’s Manufacturing Milestone
Now the other piece of news is China, as a manufacturer, was top for the first time ever as a country. So a lot is going on in the transition of the automobile market, both in what types of vehicles are being sold and where they’re being produced. Electric vehicles, gas vehicles, hybrid vehicles.

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You’re going to see more and more of these evolutions where more and more vehicles will be electric, and more of them will be coming from China. It’ll reduce the price. We expect that used Teslas will be at $10,000 in the used car market within the next year. So it’s going to make for a much different used car market down the road.

Future of the Used Car Market
Even if you didn’t want an electric vehicle, if you wanted a used car and a gas car is going to be $25,000 or $30,000 and a used Tesla is going to be $10,000, you might say, “Well, I’ll just buy one of these every couple of years. It’ll be cheaper than buying a used gasoline vehicle.”

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