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Bottom dropping out of used market?
- Thread starter Love2Run
- Start date
I can get a new Performance Model Y in 2-4 weeks right now. Why would I pay as much for used?
When wait periods were 3+ months the crazy high used prices made sense. Now they are just a little silly.
There is also a glut of used Teslas out there due to those same high used prices. The high used prices prompted a ton of flipping and upgrading. Lots of supply means lower prices.
When wait periods were 3+ months the crazy high used prices made sense. Now they are just a little silly.
There is also a glut of used Teslas out there due to those same high used prices. The high used prices prompted a ton of flipping and upgrading. Lots of supply means lower prices.
Temporary. It will go up again as soon as that tax holiday expires. Also, everything else went up including the August CPI.
Mateo83
Active Member
I feel bad for the folks that couldn't wait a month or 2 and paid top dollar at the peak. I don't feel as bad for the folks that bought up a bunch of new Teslas and other EV's thinking they're going to make a quick buck.
Not to mention interest rates are going up, payments are more for those who finance which I assume is most.
Hmm, the wait period for new ones is shrinking and used prices are falling. I wonder if we will finally see some pressure on them to cut prices? It'd be nice for the base model 3 to get back closer to $40k.
Trade-in values would be a leading indicator as they look to offset risk of not being able to command current list prices — if you’re seeing listings for $75k, obviously those vehicles haven’t sold yet.
Gotta be forward-looking here rather than just focusing on the current picture and what’s readily visible, list prices rose before trade-in offers and they will be the last thing to drop.
thesmokingman
Active Member
Nah.. they bought high and are trying to sell high. Same thing happened with Mach-Es back in late spring... I know two people who sold MME GTs at high prices to Carvana and Carvana could not sell them for 4+ months at the obscene prices.
Hopefully Carvana will realize their errors and sell at a small loss and try to make it up in financing.
I don't know if Tesla would lower prices but we should see USED prices LESS than new ones in a few months. There is no reason why a used Tesla should be $5K more than a new one if the wait times are only 2 months.
thesmokingman
Active Member
Carvana lost $439M last quarter... probably even more this quarter.
www.cbtnews.com
The Q1 loss was as big
"The company's net loss rose from $82 million in Q1 2021 to $506 million in Q1 2022"
www.vendingtimes.com
Carvana posts $439 M net loss for Q2, sales volume increases
According to an official report from the company, Carvana sold about 117,564 retail vehicles, which calculates to a 9% increase from the previous year.
www.cbtnews.com
The Q1 loss was as big
"The company's net loss rose from $82 million in Q1 2021 to $506 million in Q1 2022"
Carvana lifts Q1 2022 sales, widens loss
Carvana, an e-commerce platform for buying and selling used cars online that offers a car vending machine, reported a higher loss despite improved sales for Q1 2022, according to a letter to shareholders. Highlights include: Revenue rose 56% from $2.2…
www.vendingtimes.com
thesmokingman
Active Member
Buy high, sell low model only works for Cathy Wood.
LOL. Those two follow the same trajectory.Buy high, sell low model only works for Cathy Wood.
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