Many recycled VINS from buyers not being ready...

[FloridaSun]

I'm following some facebook Tesla groups and many people got their car earlier with older, recycled VINS.
I believe that the collapsoing economy and stock market are responsible for that. I'm sure, especially in the high end car market, there are people who pay cash with proceeds of stock sales.. However, at current stock prices many would take a loss and some may have decided to wait with taking delivery until the market recovers.. I may be wrong but that's what I believe. Any other theories?

 

[glide]

It’s far worse than that. People simply cannot afford a $60K entry level Tesla when their 401K’s portfolios, and property values are literally crumbling around them.

Sprinkle in 10% inflation + crypto market meltdown, general uncertainty and the buying pool for Tesla just went from a year long backlog to a surplus of inventory.

 

[FloridaSun]

It’s far worse than that. People simply cannot afford a $60K entry level Tesla when their 401K’s portfolios, and property values are literally crumbling around them.

Sprinkle in 10% inflation + crypto market meltdown, general uncertainty and the buying pool for Tesla just went from a year long backlog to a surplus of inventory.

I don't see it affecting the less pricey models as much as the higher priced S and X..

 

[glide]

I don't see it affecting the less pricey models as much as the higher priced S and X..

It’s the exact opposite. People who had $120K to spend on a vehicle 2 months ago, probably still do today. Not so much on the lower end of the spectrum.

 

[FloridaSun]

It’s the exact opposite. People who had $120K to spend on a vehicle 2 months ago, probably still do today. Not so much on the lower end of the spectrum.

I have a nice net worth myself but I usually don't keep too much cash around, certainly not a six figure amount for a car. My money is invested.. In my case, virtually all my money is in real estate and a smaller part in stocks. Let's say someone had $500k in Tesla stock @$1100 per share and they wanted to sell $130k worth of shares for a Model x Plaid, they would had to sell a lot fewer shares at that price than right now and they don't want to take the loss and selling at a lower price. Sure, the uber rich who have 100's of Millions won't care and probably have $150k or more in their checking account but the rest of the upper middle class usually has most of their money invested, letting the money work for them..

 

[glide]

I have a nice net worth myself but I usually don't keep too much cash around, certainly not a six figure amount for a car. My money is invested.. In my case, virtually all my money is in real estate and a smaller part in stocks. Let's say someone had $500k in Tesla stock @$1100 per share and they wanted to sell $130k worth of shares for a Model x Plaid, they would had to sell a lot fewer shares at that price than right now and they don't want to take the loss and selling at a lower price. Sure, the uber rich who have 100's of Millions won't care and probably have $150k or more in their checking account but the rest of the upper middle class usually has most of their money invested, letting the money work for them..

If I have $500K in Tesla stock, that means I probably also have several million someplace else. Those people can still afford the $130K vehicle.

Maybe they choose not to buy it, fine. But the people who ordered a 3/Y likely are taking a hard look at their finances and interest rates.

These downturns disproportionally impact those not in the top 10%. And those people are buying 3/Y, not S/X.

 

[jboy210]

Some people are investing in highly speculative things like crypto. They ordered the X when the value is way up and now the value has been destroyed. I never understood the underlying value so only watched from afar.

 

[glide]

Some people are investing in highly speculative things like crypto. They ordered the X when the value is way up and now the value has been destroyed. I never understood the underlying value so only watched from afar.

Those people are called idiots.

I really hope the increase in Tesla’s sales numbers is not tied to crypto-bros. Otherwise the company is doomed.

 

[E90alex]

Those people are called idiots.

I really hope the increase in Tesla’s sales numbers is not tied to crypto-bros. Otherwise the company is doomed.

A lot of Tesla bros are also crypto bros and tech bros and finance bros, especially the early buyers.

But they are expanding reach to “normal” people as well as EVs in general are becoming more accepted and normalized.

 

[strider]

I'm sure people that were stretching to buy a car may now be priced out due to interest rates going up. The same will happen with housing. Most people buy based on the monthly payment. As rates go up, the price that people can afford to pay goes down.

It's possible that this burst of recycled VINs may have more to do with parts shortages finally easing. Remember, there was an airbag issue with the early cars. I'm guessing a decent number of cars were pushed aside and all new airbags were installed into current production. Tesla may now have excess new airbags and can go back and refurbish those older cars and sell them.

I do agree w/ someone who posted in the Delivery Thread that Tesla should make those older cars inventory cars and only deliver new cars to those who have been waiting. Due to the order backlog, people who recently decided to buy an X would scoop up those cars instead of waiting. Plus at current pricing, they could discount them slightly and still make more money than they would selling it to someone who has been waiting 6+ months.