The Hyundai Ioniq 6 is just beginning to be delivered, but the Tesla Model 3 (left) is already feeling the price drops (Photo: Keinan Cohen)
A buyer's market: The price increases seen in electric models over the past year are gone, and large parts of the second-hand market are at a standstill.
Levi Yitzhak's June price list released this morning shows declines of 2-3 percent within one month on most models priced over NIS 200,3.
An examination of prices for popular models shows that the two-year-old Tesla Model 3 Standard lost 155% of its value this month, dropping to a previously unseen price of NIS 2,<>. The electric Hyundai Kona lost <>% of its value. Other trams also show declines in value, but by only one percent: the Geely Geometric C, Hyundai Ioniq Prestige and MG ZS EV.
Mazda 2. One of the oldest models on the market, not even a hybrid, and demand is maintained. Didn't lose a set this month (Photo: Walla!, Udi Etzion)
Mi-Ron Levy, VP of the Levy Yitzhak Group (Photo: Levy Yitzhak Group)
"The attack we saw last year, of 'Bring it, we'll take what's there,' is over," says Mi-Ron Levy, vice president of the Levy Yitzhak price list. "Tesla continues to decline more than others partly due to the effects of the 3 Model 2023 price cut. There is also an accelerated decline in the price of slightly older electric cars, the 2019-2020 models, also lower driving ranges than are customary today."
On the other hand, there are models that did not lose their value in the price list this month: a three-year-old Toyota Corolla hybrid, perhaps also due to the launch of the renewed model, which increased by about 2%, and the old Mazda 2 is also three, a model that continues to maintain demand even as new, despite being one of the oldest in the market.
"Trading in the used market has pretty much stopped. Those who buy a second-hand car today buy because they really need to. It's no longer the impulsive shopping, because you want another car for the weekend or for a kid who got a license. There is no longer shopping to indulge in high financing because the surge in interest rates has made it very uneconomic. We see that the standing times of the cars in the lots have lengthened. Sought-after models that a few months ago would have sold out in two days stand for two weeks. Moderation because even in the hottest market groups, such as mini and jeeps. There are discounts there at prices we haven't seen in a long time."
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Model | Rate of decline this month
Kia Picanto | 1%-
Hyundai i10 Supreme | 1%-
Mazda 2 | Unmodified
Toyota Yaris Hybrid | 2%-
Toyota Corolla Hybrid | Unchanged
*Hyundai Elantra Hybrid | 2%-
Hyundai Tucson 1.6 Turbo | 2%-
Kia Sportage 1.6 Turbo | 2%-
*Tesla Model 3 Standard | 3%-
*Geely Geometer C 460 | 1%-
*Hyundai Ioniq Prestige | 1%-
*Hyundai Kona Electric | 2%-
*MG ZS Electric | 1%-
Prices from the Levi Yitzhak price list for June, for 2020 models. * 2021 models
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