"Tesla Cars' Value Declines Despite Musk's Prediction"

Despite Elon Musk's 2019 claim that Tesla cars would increase in value due to full self-driving capability, the average used Tesla Model 3 is now selling for $29,000, a significant drop in value. Tesla's market dominance has decreased, leading to aggressive price cuts on new cars and subsequent depreciation of used models. This has also impacted the resale values of other EVs, causing a ripple effect in the market. The rapid drop in value has affected consumers like Brayden Wall, who experienced a 50% loss on his 2020 Tesla Model 3 purchase. Hertz's decision to sell 20,000 Teslas was influenced by the declining resale value, impacting the entire used EV industry.