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Model X price cuts- yet again

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As a Tesla owner and enthusiast, I've got to say, the recent Tesla price cuts this year have me scratching my head. While I'm all for making EVs more affordable and accessible (the ultimate goal), I feel that these drastic cuts have seriously dented the resale value of used Teslas. It feels like those who invested in the brand just last year, and prior, are taking a massive financial hit. Personally, I bought a used 2018 Model X P100D for $84,500 last July 2022 (Although the used market was a bit high at the time), and now I'm seeing its value plummet to around $50,000 or even less!

I'm curious to hear your thoughts. Are you feeling the pinch of these price cuts on your Tesla's resale value too? Do you think Tesla should have rolled this out differently to protect current owners? Let me know what you all think.

Tesla wants to protect its investors even if at the consumer expense.

The competition heated up, Tesla's demand went down, its stock price plunged from $300 in October down to $100 in December.

It's a growth stock and investors don't like to hear the decrease in demand.

Thus, Tesla reinstated Referral program in addition to price cutting.

As a result, the demand is back, the stock climbed back up to almost $250.
 
Are you feeling the pinch of these price cuts on your Tesla's resale value too? Do you think Tesla should have rolled this out differently to protect current owners? Let me know what you all think
Zoom out a few years and you will see this is nothing new. Tesla has had many waves of drastic price decreases. Yes, it stings when you are a current owner. But it is only a problem if you were planning on trading your car in. The current blue book value on my car is of no significance to me since I plan to keep it.

Even aside from the Tesla price cuts, I don’t expect the vertical-screen legacy model S and X’s to do anything but go down in value at a steeper rate than normal depreciation. I like mine, but the tech has been notably old for awhile. And as they hit the 8 year mark, there are many who think it is too scary to keep without the HV battery warranty.
 
Even aside from the Tesla price cuts, I don’t expect the vertical-screen legacy model S and X’s to do anything but go down in value at a steeper rate than normal depreciation. I like mine, but the tech has been notably old for awhile. And as they hit the 8 year mark, there are many who think it is too scary to keep without the HV battery warranty.
I dunno about tech being old legacy models front doors far superior tech & apparently falcon wing doors work better they also have uss. When I bought model x I preferred the vertical screen over my model3 horizontal screen first of all the steering wheel blocks part of he screen also when driving you have to look real far to the right so see the entire screen. I understand why they went horizontal but I don't play games or watch movies in the car. Lot of cost cutting measures on the new ones it looks like too. I'm hoping new ones at least don't rattle as much haha.
 
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@MXSD my comment about old tech stems from the comparison I have lived the past 5 years between my model 3 and my model X. The model X always lagged behind on getting updates, and there are updates Tesla has never applied to the vertical screens.

I agree that there are some disappointments in the hardware on the most recent cars. I like my ultrasonic sensors. And I like my trip meter display. No desire to update my model X anytime soon.
 
@MXSD my comment about old tech stems from the comparison I have lived the past 5 years between my model 3 and my model X. The model X always lagged behind on getting updates, and there are updates Tesla has never applied to the vertical screens.

I agree that there are some disappointments in the hardware on the most recent cars. I like my ultrasonic sensors. And I like my trip meter display. No desire to update my model X anytime soon.
For sure I'm probably the only person that prefers the vertical screen seemed much more natural than on my M3 looking way over to the right. Yah forgot about the updated less functional driver display too. That's smart money right there.
 
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Well, not quite. Some cars are actually investments. Vast majority aren’t, but there are some. I would say EVs are definitely not. Electric cars right now are the same thing as computers.

Ie. I’ve lost almost no money from an M2 I bought very long ago. Maybe even worth more now.

Agreed. Unless you have some ultra rare classic/sports car that's a collector's item, and it's been maintained well, then it MAY be an investment. However, the maintenance you put on that car may also end up being expensive as well.
 
Agreed. Unless you have some ultra rare classic/sports car that's a collector's item, and it's been maintained well, then it MAY be an investment. However, the maintenance you put on that car may also end up being expensive as well.
Plus, wouldn't you say that in most cases, it is difficult to know at the time of initial purchase that a particular car model might turn out to be a "classic" and hold its value? I think there are many cars that people bought and drove and later regretted they had not cared better for, because they unexpectedly became iconic. Certain Mercedes models come to mind in that regard.
 
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Plus, wouldn't you say that in most cases, it is difficult to know at the time of initial purchase that a particular car model might turn out to be a "classic" and hold its value? I think there are many cars that people bought and drove and later regretted they had not cared better for, because they unexpectedly became iconic. Certain Mercedes models come to mind in that regard.

The accidental classic case typically requires many decades in order for scarcity of examples to drive the price up combined with desirability vs the ultra expensive limited production car out of the gate where there's a nearly 100% chance of appreciation since scarcity and exclusivity are guaranteed from the start along with desirability.
 
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Even as someone that considers minimalism to feel more luxurious than maximalism (which often feels cheap to me), I struggle to see how the current interior of the Cybertruck can possibly feel more luxurious than the S and X. It looks very spartan, almost to the point of feeling cold and inhospitable. It definitely fits with the exterior look of the Cybertruck, but "more luxurious"?
 
Right. Just ask me. I bought a used 2017 MX 75D a year ago (for $70k) and with these latest cuts (what is it $18,500 less now NOT including the tax credit?) I'm so glad I sold our used MX a couple weeks ago! I sold it at a massive loss, but some dealers were only offering 25k for it. I did better than that, but still had to eat a lot of $. It also needed even more repairs and updates that were going to cost me another $7.5k and I probably dumped $5k in repairs into it since last summer already. I liked the MX, but I was DONE throwing $ at it.

So, if my residual values were not affected, someone needs to send me a check for $20k (not including tax & fee losses!).
I am dealing with the exact same problem! I bought a 2018 a year and a half ago from Carmax for $80K when the prices in CA were soaring because of the mandatory EV thing. Fast forward 1.5 years I am into it for $10K in tires, brake pads, 12V battery, and other misc repairs. Now it is worth way less because Tesla decides to lower the price! I am so over it...but if I sold it I would be easily $35K in the hole. Not happy. Wish I would have stuck with my GMC SUV. :-(
 
I am dealing with the exact same problem! I bought a 2018 a year and a half ago from Carmax for $80K when the prices in CA were soaring because of the mandatory EV thing. Fast forward 1.5 years I am into it for $10K in tires, brake pads, 12V battery, and other misc repairs. Now it is worth way less because Tesla decides to lower the price! I am so over it...but if I sold it I would be easily $35K in the hole. Not happy. Wish I would have stuck with my GMC SUV. :-(

What kind of things were you guys repairing besides brake pads, 12v, etc? I've (luckily?) had only minimal repairs to my 2016.5 MS, including some of the same things, but each bill was closer to $150-300 than $1,000 or more. Were you replacing entire seats or the whole AC system or such?
 
I am dealing with the exact same problem! I bought a 2018 a year and a half ago from Carmax for $80K when the prices in CA were soaring because of the mandatory EV thing. Fast forward 1.5 years I am into it for $10K in tires, brake pads, 12V battery, and other misc repairs. Now it is worth way less because Tesla decides to lower the price! I am so over it...but if I sold it I would be easily $35K in the hole. Not happy. Wish I would have stuck with my GMC SUV. :-(
Not sure how you used any brake pads already or 10k in tires. You must be an aggressive driver or slightly exaggerated.
 
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Not sure how you used any brake pads already or 10k in tires. You must be an aggressive driver or slightly exaggerated.
Not sure why I had to replace brake pads either? It seemed crazy early to me as well and I posted to another thread and some people said it is not common but they have seen it...? I have the regen braking on standard. The Tesla Service center said the previous driver may have been a 'grinder' because I have only put 10,000 miles on the vehicle in the 1.5 years I have owned it. So according to Tesla service the damage was done by the previous owner. And the entire month of November it has been in repair due to a 12V battery replacement which lead to another connection issue which they are struggling to diagnose and fix. Plus I had to replace all 4 tires at 50,000 miles and through Tesla - in California - that cost me $2K. I wish I was exaggerating. I drive to the grocery store and back. Not aggressive. Unfortunately I learned a valuable lesson. I won't buy used again.
 
Not sure why I had to replace brake pads either? It seemed crazy early to me as well and I posted to another thread and some people said it is not common but they have seen it...? I have the regen braking on standard. The Tesla Service center said the previous driver may have been a 'grinder' because I have only put 10,000 miles on the vehicle in the 1.5 years I have owned it. So according to Tesla service the damage was done by the previous owner. And the entire month of November it has been in repair due to a 12V battery replacement which lead to another connection issue which they are struggling to diagnose and fix. Plus I had to replace all 4 tires at 50,000 miles and through Tesla - in California - that cost me $2K. I wish I was exaggerating. I drive to the grocery store and back. Not aggressive. Unfortunately I learned a valuable lesson. I won't buy used again.
Buying tires after 50,000 miles is actually impressive (good) for any car. Also, you didn’t Have to buy tires from Tesla that was your choice. Anyone from Any car brand would never advise going to the dealer for tires. As your car is used (unknown miles) seems more like a previous owner issue then a Tesla issue. The trade off buying used unfortunately.
 
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