Yeah, probably lost 80k (Euro's) on Model S + Model 3 I sold. Bought the S at the wrong moment, and sold the 3 at the wrong moment (after the price drop). It sucks. Especially since the Model 3 was a great car. Built in China, no faults. I loved it. I wouldn't have such a big issue with this enormous depreciation if the S was a great car. But the build quality is crap. Creaks, vibration, cameras falling off. It's just sad...
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Model S&X Price Adjustments
- Thread starter Cars 97
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For those of us who suddenly have highly depreciated cars (My X was 107k and now same config is 88k) any recommendations on where to purchase GAP coverage? My insurance is with Geico and they don't offer GAP in my state.
And for those keeping count, no...I'm not at all pleased with this. I'd be thrilled if I was a buyer, but it feels like really bad since my couple month old X is suddenly significantly devalued.
And for those keeping count, no...I'm not at all pleased with this. I'd be thrilled if I was a buyer, but it feels like really bad since my couple month old X is suddenly significantly devalued.
I’ve been holding back for my X purchase, since my MYP was totaled a few month ago. Wonder if it will drop any lower..? I was hopi g to order it in November 23. But now seems like a great time too.
It’s a bargain now. I mean LR for 60k and Plaid for $70k. You’re already getting the huge chunk of savings now.
But you could be right. Another 10k cut would push these ‘22s into the $50k range.
The prices do seem low but who knows with Tesla. They may do yet another cut. But the Plaid in particular is $50k less than the intro price in 2019.
That’s the part that makes me angry. Clearly the plaid was a ridiculous markup from the start. Then they went and marked it another additional huge amount during Covid. Since Tesla is making most of their money from 3 and Y, why would they want to try to rob their 5% of their top tier customers and make them angry.
Nice of them to compensate customers. That’s all we can ask of Tesla. Give us some compensation.
Also it’s not normal for Ford or GM to do this. Even if they do it’s not by gross amounts. Tesla has dropped the price of one of their cars by $50k. That’s just never happened in the industry.
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Eric33432
Member
Eric33432
Member
Wonder if some clever lawyer can figure out a theory for a class action law suit?
We should look into it. There must be something that could be done. Even if it doesn't succeed it may be enough for Tesla to try to protect their image and offer something. Have someone write a solid article that's spread around on social media (in particular on X/Twitter) about Tesla's extreme price gouging and disloyalty to their customers. The Plaid is the worst example of this since it's down $50k from pre-covid pricing so can't claim supply issues. Clearly it's straight up robbing of customers to extreme levels.
Cash compensation would be best.
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Get over it. Losses happen. Everyone faces losses temporarily and then things normalize. Move on.
Firstly you probably didn't lose $75k in one year. Until you do, don't tell others to get over it.
Secondly complacency is what promotes bad practices. Put a dent in Tesla's image and they will respond. Class action or negative press on X will do the trick.
If you dont like what you are reading here, I suggest you move on. Clearly people who have lost $75k are more disturbed than you are. Please click to another section.
Pretty sure Model S was $140k. The X was $120k. Both are now $90k.
Correction:
S Plaid: $130k (pre-covid price)
X Plaid: $126k (pre-covid price). Note that it was $120k for 5 seater but that was cancelled. Six seater was/is the only option.
This means an overpricing of $40k for S Plaid, and $36k for X Plaid compared to Pre-Covid pricing. Prices went much higher than this during covid.
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When I bought my red multi coat X Plaid in February 2022, the price was $129K. Today it’s $90K.
-Sucker
sorry to say, but that would be a waste of time and energy just like this thread here. I’d be bitter too but it’s simply bad timing for some and good timing for others. This has played out several times over the years with Tesla.
Refresh S/X were launched during the pandemic so there were parts shortages and long delays (especially with X) on top of lots of natural demand. Now prices have normalized. Tesla has over a million customers waiting for CT but they can’t deliver any at this point. The volume targets have to come from existing models. As a shareholder, it would be painful if they can’t deliver ~1.8 million this year so I’m happy they are responding to market conditions.
I personally think S/X pricing will be rising slightly soon. For any new buyers, my advice is to buy now. That same pattern played out with Y pricing early this year.
I paid $119K for my MXP ordered on new years day 2022. The first price jump didn't happen until February when they removed the 5 seat option making the new based price $126K, but this was NOT pre-covid. In early March, it went up another $13K.
I begged Tesla to keep the 5 seat config. I needed it so I could haul stuff and didn't need 6 seats especially since the middle row couldn't be folded in the 6 seat config. I offered to pay them MORE than the 6 seat pricing just to have 5 seats. Looked into swapping with others but turns out to be non trivial and requires programming Tesla refused to do. I very nearly canceled my order then.
Bottom line is, BASE pricing for MXP was $119K pre-covid. Current price is $30K cheaper than that.
I think it's going to be at least a few months for dealers and private sellers to realize what's happened. A bunch of them don't even know the price dropped again and their first inkling will be prospective buyer telling them so. Even then, they won't drop the price immediately because it will mean a realized loss and they'll hope that Tesla raises prices back up. I guarantee you a month from now there will still be some used Plaids in the $130K range still listed.
Right after the MXP started shipping, there was a brief period where they were listing north of $200K from flippers. There were still some listed above that when I took delivery on April 7th but I think by then, nobody was biting on those absurd prices. Still, a few early on did. They're the ones that took the biggest bath and probably the ones that care the least.
There are a lot of people happy also with price reductions and they have an equal right to be on this forum and express their joy. My comment was not to snub you but to help you. We all have lost at some point in our careers from real estate, to stock to cars. People don't start stirring the pot and ask for a lawsuit. You want to recover money, buy Tesla stock. It will shoot up soon once it becomes clear that reducing prices was a master stroke. Tesla knows its cars interior quality is a bit subpar to others including BMW/Lucid/Merc and hence they have to reduce prices to bring in a less luxury connoisseur customer, till they have a truly upgraded luxurious version of S/X launched over next 6-18 months. They will sell 5x the number of Model S/X they were selling and eat into everyon'e lunch in the interim.
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