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Prediction: Model X price will be reduced to $78K in January 2024
- Thread starter Sunshine Speed
- Start date
That's what I am thinking too. I didn't update my blue tax edition order so got canceled. Just got the email from tesla today about canceled order and $250 order fee refund. Looks like It all adds up for the prediction it will drop to $74990. Then I can add blue color $1500 and 7 seat $3500 back to $79990. Which I gain a 7 seater and a 2024 VIN. Will reorder if it holds true lol
It could also be stealth gray is the new tax credit edition color. We’ll see very soon
Super_Popular
Well-Known Member
Tiger
Active Member
Tesla raises the price a little and, all of a sudden, everyone expects Tesla to drop prices.
Super_Popular
Well-Known Member
Fingers crossed lolTesla raises the price a little and, all of a sudden, everyone expects Tesla to drop prices.
Tiger
Active Member
What goes up, must come down.Tesla raises the price a little and, all of a sudden, everyone expects Tesla to drop prices.
looks like grey is free, all other colors 1,500 and red is 2,500 more, they can't drop the price of the X anymore, if they do all the Y buyers are going to roam over to the X
Super_Popular
Well-Known Member
They can drop it another $5K, that would still be more than $25K than a Y.
If an inventory car can drop like that. I don't see why can't the MSRP drop to $74990
Tiger
Active Member
Maybe make the tow package cost extra when they drop the price? Not everyone who buys a Model X needs to tow.
davenlei
Member
The manufacturer cost of the tow package is probably less than $30. No material cost decline.
Because they’re desperate to clear out 2023 models for the 2024 models. This isn’t new to Tesla. They did that with Model 3/Y as well in the end of 2022/2023. They’re willing to take a hit on profits for only the couple hundred vehicles in inventory.
If the 2024 models are going to drop in price it’ll be a couple more months. There’s no reason to increase the prices so they can drop the price in two weeks. In fact, history usually shows the opposite for Tesla. They usually drop the prices, then realize it was too low, then increase it slightly for at least a couple of months, like in Model Y back in January 2023 and as well as Model X Plaid in October 2023 when they increased it by $5k. In fact, in September right when the Model X dropped to $79,990, they started to decrease the referral credits (used to be $1000, but started decreasing to $500 only 6 days later, then $250 several weeks later, and now $0.)
Remember inflation is still a thing and that to lower prices, Tesla needs to decrease production costs more than inflation. Generally, prices for cars tend to INCREASE year after year, even if there were no changes to model years. Also, Tesla just decided to increase wages for all their employees on the assembly line due to the recent UAW strike.
Also, the prediction of federal interest rates decreasing later in 2024 will not help Tesla in lowering prices as well given that alone will spur more demand.
My thinking is that Tesla will eventually decrease prices only if they feel that Model X isn’t selling well at all, and that competitors are able to sell their comparable EVs at lower prices than Tesla, which they haven’t been able to do.
Model X always has been a niche product for Tesla. They would rather sell many more Model 3’s and Y’s which is their sweet spot than to sell Model X’s which have been plagued with issues and costs a lot more to warranty repair.
Tesla raising factory worker pay in U.S. following UAW victories in Detroit
Tesla is increasing pay this month for many of its factory workers across the U.S., a move that comes after the UAW secured big wins against major automakers
www.cnbc.com
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henderrj
Active Member
Good points all around, except for that one. Tesla was going to have to raise wages no matter what. Inflation is a reality, as you already pointed out, and they have to raise the wages of their employees to match. I don't think it had anything to do with the UAW strike at all. In fact it's surprising Elon didn't hold the back the raises to make sure everybody realized that he was thumbing his nose at the union.
Tiger
Active Member
That fact right there will osborne the sales so much that they will need huge incentives when end of Q1 nears.
Actually, I forgot to mention, Tesla DID increase the price of the Model Y a couple days after that price drop in October 2023 as well. It was only by a couple hundred, but it did increase.
Now I'm guessing they're trying to drop the prices of Model Y soon, as they've just dropped in China and Germany.
Now I'm guessing they're trying to drop the prices of Model Y soon, as they've just dropped in China and Germany.
davenlei
Member
Regarding Tesla needing to lower manufacturing costs to be able to lower prices, that has been happening with the cost of the most expensive component of EV's which are the batteries. Analysts stating raw material costs have dropped by over 60% in 2023 and still dropping. Now from other moves and impacts (inflation of other materials, labor wag increases, etc.) that is eating into some of that savings from being passed to consumers but as battery tech continues to improve and costs continue to drop, based on Elon's edicts if it continues, then prices will continue to slowly decline over time until a floor is found on material costs for the most expensive components of EV's.
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