04:14 PM EDT, 04/08/2025 (MT Newswires) -- Tesla (TSLA) used car prices in the US and UK fell sharply during March, outpacing a dip in the price other electric vehicles fetched over the same period, the Financial Times reported Tuesday, citing data from used car online marketplace CarGurus ( CARG ) and other sources.

The price of a second-hand Tesla 2017 or newer model slid about 7% over the past year, while the price of a Tesla of similar vintage dropped 15% in the UK, the data reportedly showed. That compares with 1.5% decline for other EVs in the US and a 10% slide in the UK.

The reason for the steeper-than-average price drop for used Teslas varies by location, however. A market expert at CarGurus ( CARG ) told the FT that the decline in US prices appears to be largely fueled by a recent influx of former fleet vehicles boosting supply. The falling prices in the UK followed a number of former owners trading in vehicles they bought on credit for newer models, an AutoTrader analyst said.

Tesla did not immediately respond to a message from MT Newswires on Tuesday seeking comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)