Tesla CEO Elon Musk warns car buyers that "gas cars" residual values will plummet in coming years

Tesla CEO Elon Musk is warning car buyers that they need to take into account that the electric vehicle transition might cause “residual values of gas/diesel cars to plummet in the coming years.”

Last year, Musk claimed that Tesla vehicles are now “appreciating assets” due to their self-driving capability.

He aims for Tesla vehicles to become revenue-generating assets for their owners, but if the price doesn’t increase, the value would still depreciate since new buyers could still buy the vehicles for the MSRP.

The CEO later confirmed that Tesla plans to “substantially” increase the price of the Full Self-Driving option over time:

Please note that the price of the Tesla Full Self-Driving option will increase substantially over time.

He confirmed that it is what he meant by Tesla vehicles becoming “appreciating assets”:

Yes

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Tesla CEO Elon Musk warns car buyers that “gas cars” residual values will plummet in coming years

Last year, Musk claimed that Tesla vehicles are now “appreciating assets” due to their self-driving capability

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