Tesla cutting prices

[Dave..]

Tesla slashes price of Model 3 and Y in move that will damage used prices further – Car Dealer Magazine

Tesla has slashed the price of its Model 3 and Model Y in a move that is likely to see used prices plummet even further. Tesla has announced it has

cardealermagazine.co.uk

 

[Ghost]

@Rocko rage.......

 

[Rocko]

I leased mine a year ago at the cheaper price

https://rmsmotoring.com/forum/threads/musk-and-twitter.226072/page-24#post-3992505

 

[Graham2]

That's a hell of price reduction, be interesting to see how long it takes them to start creeping the prices back up again. Regarding the used prices, lets not forget that 2 year old Tesla's were selling last year for 70-80% of their original purchase price, that was never going to last for long.

 

[mike150]

I nearly bought a used Model 3 Performance in August, I had a deposit on it but the car needed a screen that couldn't be got so I cancelled it

I've been watching used prices since and they've been the worst depreciating car on the market over the last 12 months loosing 23%. This cut in new prices of 5 to 10% will now trickle down the used market too.

I definitely dodged a bullet last August

 

[Nigelo]

I've had an interest in a model 3 performance, but didn't think I could stretch to a new one. I know that depreciation on Tesla M3 had been more than a lot of cars, but if this pricing change means I can pick a low miles 2020 one up for a £ beginning with a 3, then .....

 

[mike150]

Used M3 Performances are £32k now.

There's a private one on Autotrader for £27500

 

[big_pete]

Bit of a sickener as an owner rather than on a lease. Might not be making the jump to a plaid afterall if it totally screws the finances to make the deal happen ah well I love my M3P

 

[Graham2]

Tesla's previously held their value better than any other car but they went bananas in 2021/2022 so this is just a correction in their values and they're now depreciating like any other car. Mine was £52k new in 2020 so £30k is about right.

 

[Cooper]

 

[Dave..]

Tesla buyers can cancel orders if new lower prices aren't automatically applied – Car Dealer Magazine

Motor trade legal experts have said consumers are perfectly entitled to cancel their Tesla orders to take advantage of the lower price – if they bought

cardealermagazine.co.uk

 

[stevieturbo]

Tesla's previously held their value better than any other car but they went bananas in 2021/2022 so this is just a correction in their values and they're now depreciating like any other car. Mine was £52k new in 2020 so £30k is about right.

If and when new EV's ever come out with better batteries too.....current models will undoubtedly fall more too.

 

[ahannigan]

Tesla's previously held their value better than any other car but they went bananas in 2021/2022 so this is just a correction in their values and they're now depreciating like any other car. Mine was £52k new in 2020 so £30k is about right.

Is 10k per year normal? My car was £50k new in 2020 and is worth £40k today. Cheapest on autotrader is actually a 2018 at £41k.
Granted it’s “limited” edition-ish, and I’ve not paid much attention to car depreciation in the past but I had a LY 200 Clio that I paid £26k for and 3 years later for £9500!

Edit - I’ve just realised it’s 2023 and that could be 3 years old. Doh.

 

[Jecks]

I wonder how this will filter through used prices now.
See a 2022 MY LR with 6000 miles at £59995
Can be bought new for £53000

Or a November 2022 MY Performance on at £67000. Can be bought new now at £59995

 

[Charlieboyoo]

I wonder how this will filter through used prices now.
See a 2022 MY LR with 6000 miles at £59995
Can be bought new for £53000

Or a November 2022 MY Performance on at £67000. Can be bought new now at £59995

Totally agree what with your saying.I would consider a model 3.waiting to see the prices filter down

 

[Cooper]

Would the second hand trade be quick to react, with potentially now overvalued stock? Could they afford to take a 10-15% hit on their already internet-competitive 'price is the price'? R Symons in the video above is clearly not happy!

 

[Nigelo]

Would the second hand trade be quick to react, with potentially now overvalued stock? Could they afford to take a 10-15% hit on their already internet-competitive 'price is the price'? R Symons in the video above is clearly not happy!

It's gonna be tight - with a lot maybe going out on PCPs, it's even closer. Tesla PCP 6.9% Vs trade maybe 10-13%

 

[Wild Thing]

Maybe its wee johnny running about barefoot in the cobalt mine. Bad PR in a world gone nuts

 

[Graham]

Would the second hand trade be quick to react, with potentially now overvalued stock? Could they afford to take a 10-15% hit on their already internet-competitive 'price is the price'? R Symons in the video above is clearly not happy!

With the potential of a 12-24m wait for a new one, price of nearly new ones will likely sit higher. If someone wants one today, they have no choice but to pay it.

I remember when the MkII Focus RS was first launched, a friend had one ordered on the mainland. He had his home before Lindsay Ford even had their delivery. He then sold it after a few months for a healthy profit, which was the whole idea in the first place.

 

[KyleR]

With the potential of a 12-24m wait for a new one, price of nearly new ones will likely sit higher. If someone wants one today, they have no choice but to pay it.

I remember when the MkII Focus RS was first launched, a friend had one ordered on the mainland. He had his home before Lindsay Ford even had their delivery. He then sold it after a few months for a healthy profit, which was the whole idea in the first place.

Except current lead times are up to about 10 weeks. I've 2 new Y's ordered, one with Tesla and another with a 3rd party, just waiting to see who can provide me with the best deal.

 

[Graham]

Except current lead times are up to about 10 weeks. I've 2 new Y's ordered, one with Tesla and another with a 3rd party, just waiting to see who can provide me with the best deal.

Slashing prices to clear old stock that's taking up space in a dock yard then?

 

[KyleR]

Slashing prices to clear old stock that's taking up space in a dock yard then?

I don't know to be honest, but it's not just 1 or 2 variants, it's all 3 MY's and all 3 M3's.

 

[mk2driver]

Slashing prices to clear old stock that's taking up space in a dock yard then?

I think they are simply panicking to hit volume targets

As I posted in the Musk Twitter thread - now they have done this they aren’t going to be able to put the price up again in these models, the market won’t take it

This could lead to a drop in profit and free cash flow which in the long run could be a bad downward spiral

 

[Chris tii]

Would the second hand trade be quick to react, with potentially now overvalued stock? Could they afford to take a 10-15% hit on their already internet-competitive 'price is the price'? R Symons in the video above is clearly not happy!

I feel sorry for him. Surely he will now have to make a loss on most of his stock. I’m sure he’s absolutely fuming.
And anyone collecting their new Tesla yesterday at the dealership probably had some strong words for their salesman.

 

[KyleR]

I feel sorry for him. Surely he will now have to make a loss on most of his stock. I’m sure he’s absolutely fuming.
And anyone collecting their new Tesla yesterday at the dealership probably had some strong words for their salesman.

The best thing about buying directly from Tesla is that you are covered by the distance selling regulations as it's done online. You have 14 days to return the product for a full refund. In terms of a car, that would be minus any loss in value to the car due to usage. However, if you haven't picked it up yet, it's still brand new and you would have a very valid argument of a full refund. Because of this they may transfer you to the new pricing. I would certainly be trying that if I was collecting yesterday.