UK-based automotive analytics company, Autovista Group, has recently recognized the Tesla Model Y with a prestigious Residual Value (RV) Award in the competitive compact and large battery electric vehicle (BEV) SUV category. Building on its success as Europe’s best-selling vehicle in the first quarter of 2023, the Model Y continues to garner recognition for its exceptional performance.
Residual Value (RV) refers to the worth of a vehicle after a specified period and mileage. Autovista Group employed a standard scenario of 36 months and 40,000 miles (60,000 kilometers) to calculate the rankings. The company determined the RV percentage, relative to the retained list price, and compared it to the average RV percentage within the specific category.
To ensure accuracy, Autovista Group analyzed used car data from February to April 2023, excluding vehicles with extreme horsepower and price points. The group attributed the Model Y’s strong value retention to constant engineering enhancements and its ability to receive over-the-air (OTA) upgrades. Furthermore, the Model Y’s outstanding performance in the Euro NCAP tests between 2020 and 2022 contributed to its desirability among consumers.
Autovista Group’s experts meticulously examined data from 17 European nations to arrive at their conclusion. Remarkably, after three years and 40,000 miles, the Model Y retained 55 percent of its value in the UK, 67 percent in France, 64 percent in Germany, and an impressive 74 percent in Hungary.
Tesla’s batteries reportedly experience only a 12 percent capacity loss after approximately 200,000 miles (320,000 km), according to a spokesperson from the company. However, it’s important to approach this claim with caution, as battery degradation can vary depending on several factors, including driving style, temperatures, and charging patterns.
Jose Pontes, the data director at EV-volumes.com, remarked, “While the Model Y may not boast the same head-turning appeal as the Model 3 or the luxurious comfort of the Model S, it offers the trademark Tesla qualities of efficiency, range, and dependability, albeit with a relatively minimalistic interior given its price.”
Rounding out the top rankings in Autovista Group’s list were the Skoda Enyaq in second place, followed by the Audi Q4 E-Tron Sportback, Volvo EX90, and Volkswagen ID.4. Notably, the Enyaq secured a top-five position in nine of the 17 markets analyzed. “SUVs dominate the BEV market, and numerous vehicles contended for the title,” highlighted Christof Engelskirchen, the chief economist at Autovista Group.
The European Model Y crossover is manufactured both at the Tesla Gigafactory Berlin-Brandenburg in Germany and imported from Giga Shanghai in China. This production strategy ensures the availability of Model Y vehicles for European customers and further strengthens Tesla’s market presence in the region.
