Used Tesla prices are dropping much faster than other used EVs

Since just before the election, used Tesla prices have dropped 3x faster than non-Tesla EVs.

3/18/25 4:04PM

Tesla is becoming increasingly unpopular among Americans, and it’s showing up not only in new but also used car price data.

Since last October, just before the presidential election and when Tesla CEO Elon Musk first took the stage at a Donald Trump rally, the average price of a used Tesla on auto research and shopping site CarGurus has fallen about 7%, or more than triple the decline of non-Tesla used electric vehicles during that same time frame.

Going further back, since Musk began his acquisition of Twitter in the spring of 2022, which roughly coincided with him becoming more vocally right-wing politically, used Tesla prices have fallen about 57%, more than twice that of non-Teslas.

As of mid-March, the average selling price of a used Tesla was about $30,000 — or $10,000 less than other electric vehicles, on average.

The price decline is likely thanks to a confluence of factors:

More people trying to offload their Teslas, potentially adding extra supply to the market.
Muted consumer demand.
Used prices are also somewhat a reflection of new prices, and Tesla has been slashing those in an unsuccessful effort to move more vehicles.

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Report: OpenAI and Nvidia in talks to team up for 10-gigawatt data center in Ohio

Fresh off scaling back ambitious plans for its Stargate data centers, OpenAI may be moving forward with a new plan: a 10-gigawatt data center in Ohio powered and backed by Nvidia.

According to a report by The Information, the new data center, built on federal land, would dwarf the largest data centers being built today in terms of computing power.

The facility would cost about $500 billion to build, and OpenAI would would own the equipment and be on the hook for 20 years of lease payments, which Nvidia would provide a backstop for, per the report.

If this sounds familiar, Nvidia and OpenAI did announce a similar deal back in September. Nvidia said it would invest as much as $100 billion in what CEO Jensen Huang called “the biggest AI infrastructure project in history,” which never came to fruition (though Nvidia did invest $30 billion in OpenAI). Per the report, this potential deal is a new plan.

OpenAI’s Stargate partner SoftBank is part of the plan as well. SoftBank’s SB Energy is providing financing for the project, and broke ground on the facility in March. The land on which the data center would be built is owned by the Department of Energy.

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Amazon just secured a massive $17.5 billion line of credit

Amazon has landed a $17.5 billion line of credit arranged by Citibank, according to a new SEC filing.

While the filing says the money is for “general corporate purposes,” the company is clearly on a global borrowing spree to fund its massive AI infrastructure investments, with $200 billion in planned capex this year. For perspective, that budget is larger than the entire GDP of most countries. This giant credit line comes shortly after Amazon shattered the record for issuance in Canada’s “maple bond” market.

The spending is so aggressive that credit rating agency S&P recently warned Amazon’s “leverage will increase substantially” and it will likely report negative free operating cash flow over the next two years to support the data center build-out. Yet, Amazon is rushing to borrow anyway, hoping to service a massive $364 billion cloud backlog.