Tesla’s second-hand troubles

Five charts to start your day

Used Tesla prices are falling faster than those of most other electric vehicles in the US and Britain. Some speculate that Elon Musk’s foray into politics is souring the brand’s image, but there’s a simpler explanation: a glut of off-lease cars returning to dealerships at once.

That extra supply means competition among sellers. If you have too many used Model 3s on the lot, you cut prices to shift them. Meanwhile, Tesla has also discounted new vehicles in the past year. That can erode second-hand values further.