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Tesla investor Ross Gerber says he can't get rid of his used Tesla. Here's why Musk's cars aren't retaining value like they used to.

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In mid-2022 , a used Model Y could go for as much as $70,000 , according to data from Recurrent , which tracks secondhand EV prices.

Hertz 's move to dump 30,000 Teslas from its fleet earlier this year hastened the decline in used-market values.