From 2022 onwards, the immense popularity of Tesla automobiles led to a situation where certain owners were able to make a profit through a practice known as "Tesla flipping," which entails selling their newly purchased

model to a buyer. However, as the year draws to a close, it is no longer true. According to Reuters, the price of pre-owned Teslas is declining at a faster rate compared to other automobile manufacturers. In addition, there has

been a rise in the average duration that Tesla vehicles remain at dealership lots. Moreover, the average price of a pre-owned Tesla was $67,297 in July 2022. As to the magazine, the price experienced a decrease of seventeen

percent by November. The present mean price of a pre-owned Tesla is $55,754. It is evident that Tesla is being significantly impacted by price reductions, especially when contrasted to a four percent decrease in used car

prices throughout the country. The factors that initially drove the increase in demand for Tesla in early 2022 may also be responsible for the present decrease in price.

The demand for electric vehicles (EVs) surged as individuals who had previously sold their lightly used EVs purchased another Tesla due to the phenomenon known as the Tesla flip.