Model S Plaid huge depreciation

[calikid]

Weird, I paid $157k for my ‘22 S Plaid this time last year. Configuring the exact spec’d car tonight with FSD, $108k

 

[racerx2005]

Those price changes, especially price cuts, must make crazy the leasing companies
which are not able to predict the residual value of a car at the end of the lease term

Agree, specifically when lease and loan payments are pretty much the same; buyers will debate, should I buy? should I lease? what would you do?

I’m demo driving a Model S on Saturday, 9/9 and will probably get the Plaid, who am I kidding? for $89,990 - $1,000(referral code from a friend) it’s a no-brainer, even with the vibration issue plaguing the car.

The price may go down, who knows, a face-lift imminent? new “revolutionary” tech? better/more luxurious interior? then again if that happens, prices will skyrocket again, if not, then that would be huge bummer! at least I’ll be getting it at its lowest price and not selling anytime soon.

 

[Ash83]

As a 22 plaid x owner who took a nice bath in resale value, I personally have a devalued car but tesla as a brand just became more competitive in the marketplace. As more EVs join the market, I figure they’ll get more aggressive with their costs. They have one of the highest profit margins in the industry so they have some room to play with. It’s all about pricing the current market. Market was hot when I bought, interest rates were essentially giving me money so im not that overly upset. Plus looking long term, if for whatever reason, this car in 3-4 years becomes a $20k rocket ship then I’ll just drive it into the ground. But if the value goes back up and my residual is normalized again, then I’ll sell.

Wow, Tesla **** you and you still defend them Are Mercedes, BMW, Porsche competitive in the car market? Did they drop prices like this and f*** everyone? And please do not say EVs are different than other cars!! Car is a car regardless of how it run!

You stay competitive in the market by building Quality cars, quality service and offer it at the right price to build trust to get new and repeated customers. Tesla now has still quality issues, crappy service and now no one trust the value of their cars which is huge factor for many people so yeah no clue what do you mean.

 

[Speedr117]

Silly question - is the Plaid much different from the LR S 2023? Is there addditional differences? Planning to test drive a Tesla MS with 21 inch tires and 19 inch.

@delsky, the only difference is power, straight line performance, and track mode/drag race mode. Otherwise, they're the exact same car. If you don't need mind shaking acceleration, then the LR has everything else the Plaid has...except the badge on the back, and red brake calipers, and carbon-fiber interior.

 

[racerx2005]

@delsky, the only difference is power, straight line performance, and track mode/drag race mode. Otherwise, they're the exact same car. If you don't need mind shaking acceleration, then the LR has everything else the Plaid has...except the badge on the back, and red brake calipers, and carbon-fiber interior.

I feel the need, the need for speed! ️

 

[racerx2005]

I’m demo driving a Model S on Saturday, 9/9 and will probably get the Plaid, who am I kidding? for $89,990 - $1,000(referral code from a friend)

Tesla has dropped the amount a Model X and Model S buyer get when using a referral code to $500 (from $1,000).

The referrer also now only gets 10,000 credits for referring a Model S & X (down from 20,000 credits).

… and just like that 500 bucks down the drain

 

[CTruck_BMW]

Tesla has dropped the amount a Model X and Model S buyer get when using a referral code to $500 (from $1,000).

The referrer also now only gets 10,000 credits for referring a Model S & X (down from 20,000 credits).

… and just like that 500 bucks down the drain

This is a good sign if anything. It tells you that they are getting close to their bottom line as far as pricing. Yoke now is 1000, price discounts are reduced from 1K to 500USD on the S and X, and also, the inventory has 0 discounts (barely demo cars are getting 1-2K when they were 10K discounted).
Hence, if anything, again am 100% certain prices will go back to normal right after Q4. Tesla does NOT sell many S and X, and low margins on cars that don't sell that well would never work. The pool of S and X buyers are the same, whether the car is 100K or 80K, it's the same pool of buyers. The price reduction was just a reaction against Lucid in my view as well as a trial to get more sales as the inventory was growing like crazy on the S and X. I think going forward they will just start making less S and X somehow, and sell them for a reasonable yet competitive value.

Let's not forget that buyers of S and X are more likely to buy FSD and other stuff, as they can afford it. Hence, even with low sales, they can still make good profits on these cars.

 

[racerx2005]

This is a good sign if anything. It tells you that they are getting close to their bottom line as far as pricing. Yoke now is 1000, price discounts are reduced from 1K to 500USD on the S and X, and also, the inventory has 0 discounts (barely demo cars are getting 1-2K when they were 10K discounted).
Hence, if anything, again am 100% certain prices will go back to normal right after Q4. Tesla does NOT sell many S and X, and low margins on cars that don't sell that well would never work. The pool of S and X buyers are the same, whether the car is 100K or 80K, it's the same pool of buyers. The price reduction was just a reaction against Lucid in my view as well as a trial to get more sales as the inventory was growing like crazy on the S and X. I think going forward they will just start making less S and X somehow, and sell them for a reasonable yet competitive value.

Let's not forget that buyers of S and X are more likely to buy FSD and other stuff, as they can afford it. Hence, even with low sales, they can still make good profits on these cars.

Agree … other buyers won’t get neither FSD nor enhanced AP like myself, I drive my cars, a basic cruise control to keep the speed on long drives is good enough … I may subscribe to FSD if it ever gets to level 5.

 

[TessP100D]

Weird, I paid $157k for my ‘22 S Plaid this time last year. Configuring the exact spec’d car tonight with FSD, $108k

How does that feel?

 

[TessP100D]

Let's not forget that buyers of S and X are more likely to buy FSD and other stuff, as they can afford it. Hence, even with low sales, they can still make good profits on these cars.

That’s BS. People with enough money to afford an S or X are also smart enough to skip FSD all together.

 

[CTruck_BMW]

BS for you. But that is the reality. The highest %s of cars with FSD purchases, is for the Model S followed by X, and that's right from a peer who works for Tesla. Also, just based on a quick market search, you will find more S and X (percentage wise) with FSD than a Model 3 and X. Hence, do your research first before you object. Aaaand, S and X buyers are not smarter than 3 and Y... Smartness has nothing to do with affordability (well not always, but to some degree). S and X buyers are often more in the mode of (the desire to have everything) than the mentality of (do I need it really or not). This is true across or line up. If a Model 3 can afford 12-15K to get FSD, they would like upgrade to Model Y than buying FSD.

 

[James Cole]

For every guy that feels f*cked by Tesla pricing, theres 20 more that are happy to purchase a new discounted car.

 

[racerx2005]

For every guy that feels f*cked by Tesla pricing, theres 20 more that are happy to purchase a new discounted car.

yeah, I’m a happy camper indeed

 

[CTruck_BMW]

For every guy that feels f*cked by Tesla pricing, theres 20 more that are happy to purchase a new discounted car.

I am one of those who took advantage of at least 10K out of the total 15K discount on the Model S. I got mine on a 9.5K discount from inventory (it was sitting on the lot for 2 weeks only, in a state wherein Tesla doesn't sell that well). I lost another 4.5K that I could have potentially got, but that's fine. What bothers me is not the discount, but the lack of exclusivity that the MS has now .... I am happy that it is accessible to more people (and grateful myself), but from of a resale value, I would have preferred to continue to believe that I got it on a 9.5K discount, than the fact now this is what it's market value is.

 

[James Cole]

yeah, I’m a happy camper indeed

Me too, this last price correction pushed me to purchase an S & X plaid… but I do feel sorry for the guys that paid full price…

 

[James Cole]

I am one of those who took advantage of at least 10K out of the total 15K discount on the Model S. I got mine on a 9.5K discount from inventory (it was sitting on the lot for 2 weeks only, in a state wherein Tesla doesn't sell that well). I lost another 4.5K that I could have potentially got, but that's fine. What bothers me is not the discount, but the lack of exclusivity that the MS has now .... I am happy that it is accessible to more people (and grateful myself), but from of a resale value, I would have preferred to continue to believe that I got it on a 9.5K discount, than the fact now this is what it's market value is.

Exclusivity is another matter and yes at these prices it loses some… on the other hand its impossible to find better value elsewhere, its not even close…

We are getting a lot for our money so I think its a smart decision to purchase now.

 

[DaHongfei]

I paid $147k for mine in 2021, thanks Elon. Got Ducked really good HA

 

[Jpandes]

Most buyers get a car because they need one quickly, to replace a previous one, to get a second car because of new job situation or a new baby...
So those buyers will be in the market for a short time, maybe be they will be willing to wait for the order to get delivered.

But if you buy only after waiting for a price drop, the car you try to sell will certainly get a price drop too.
The same was not too long time ago when new car price were continually going up, and used car price were going up too.
So I don't see any recommended strategy, like some buyers will be waiting for ever for some new feature or improvement.

This is my situation exactly. I bought my ‘17 MS P100D w/ 16,xxx miles for $73k two years ago, which was a decent deal at the time. The Plaid was launched a few months later at $129k. They are now priced at $89k, but my P100D is only worth $45-50k. it would still cost me ~$50k w/ taxes to upgrade

 

[Watts_Up]

I agree with the first sentence of your statement, but NOT when it comes to more expensive vehicles. The buyer that is in the market for a Model S probably has a garage and probably has multiple cars and will not be desperate to replace the car that just broke down or reached the end of its useful life. On the flip side, they may be an impulse buyer that doesn't care about price either because they suck at finances or were incredibly good with finances.

The second sentence also doesn't apply because although you might see similar percentage declines with the used vehicle dropping percentage wise similarly to the new vehicle, the difference in actual dollars is far larger with the new car vs the used car so it still makes sense to wait for the large price drop, sell your used Tesla, and then buy a new Tesla.

I didn't realised that this thread was directly dealing with the recent 20% discount on the Model S and X,
I was thinking more at the general Tesla prices fluctuations over the past years.

I was in fact considering getting the previous $69,420 Model S version which was similar to the price that I had paid my 2018 Model 3 LR AWD...
So yes, this Model S price drop at the time was a real trigger in my decision to upgrade to a Model S.
But the time I convinced myself, the previous Model S version was not in production any longer... and the Covid situation arrived.

So I am waiting again for a new opportunity, as you describe it in your comment above.
I am mostly interested in the Model S because of the air suspension and the extra range, something I would not get with a new Model 3 or Model Y.

 

[TessP100D]

BS for you. But that is the reality. The highest %s of cars with FSD purchases, is for the Model S followed by X, and that's right from a peer who works for Tesla. Also, just based on a quick market search, you will find more S and X (percentage wise) with FSD than a Model 3 and X. Hence, do your research first before you object. Aaaand, S and X buyers are not smarter than 3 and Y... Smartness has nothing to do with affordability (well not always, but to some degree). S and X buyers are often more in the mode of (the desire to have everything) than the mentality of (do I need it really or not). This is true across or line up. If a Model 3 can afford 12-15K to get FSD, they would like upgrade to Model Y than buying FSD.

FSD is the big fraud. please tell me you didn’t fall for the lie