That’s the issue; used cars are going to take a nosedive for 2024.
They’ll float for another year or so, but stock and inventory is already starting to replenish for new cars.
The model s maintained high values previously due to musks cult following and being one of the only serious electric cars on the market. That was before COVID. In a post-COVID world there is a lot of electric car competition from the traditional manufacturers. I think people will look to Lucid, Porsche, Mercedes, Audi, and Cadillac for future electric cars needs.
This will impact Tesla values in the long run. I think immediately, the EQS will tank in value like other S class vehicles do.