Kelley Blue Book (KBB) designated 28 cars as recipients of its “Best Resale Value” award for 2023, “recognizing vehicles for their projected retained value through the initial five-year ownership period.” Tesla received two of these awards for their Model S and Model X vehicles.

The Tesla Model S retains its value the best among luxury vehicles, according to KBB. Tesla Model X has received the same award among luxury SUVs. After five years of use, the Model X is valued at 66% of its full price, while the Model S is valued at 57%. This is an incredible achievement for an electric car company.

CONCLUSION

The Kelley Blue Book “Best Resale Value” award clearly emphasizes that Tesla cars are reliable and can be quite profitable for the owner in the subsequent sale. Another advantage of Tesla is that their vehicles regularly receive over-the-air software updates that make the car more innovative. This is an excellent achievement for the entire Tesla team.