Tesla CEO Elon Musk’s statement earlier this year further adds to the optimism. Musk asserted that Tesla batteries last between 300,000 and 500,000 miles or 1,500 charge cycles. Most Model 3 and Model Y variants are backed by an eight-year or 120,000-mile warranty, provided that the battery capacity retention remains above 70 percent. Many owners have reported battery capacity retention exceeding 90 percent after covering 100,000 miles.
The bright outlook for the used EV market in the United States suggests that electric vehicles are on track to become more affordable and accessible to a broader segment of the population in the coming months and years. As prices continue to drop and the availability of used EVs increases, the electric revolution appears poised for even greater momentum.
