Elon Musk claimed Teslas would appreciate in value post-purchase, but predictably, they've lost value

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Elon Musk's claim that his Teslas would appreciate in value has flopped. Tesla Model 3 prices have fallen by $6,000 despite enjoying a brief, pandemic-era price surge. Tesla's attempts to drive up sales have stalled with its EV market share dropping from 80% to 56%. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Elon Musk once claimed his Teslas would climb in value post-purchase, a rare feat in the auto industry. Musk made the comments in 2019, arguing that his vehicles were "appreciating assets," Business Insider previously reported. "If you buy a Tesla today, I believe you are buying an appreciating asset, not a depreciating asset," Musk said during the 2019 interview, arguing the brand's self-driving features would set it apart in value by tens of thousands. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .