Prediction: Model X price will be reduced to $78K in January 2024

[terranx]

Yeah agreed I would assume people who make 80-90k+(Roughly 20-25% of the US population make that and more) would be the ones to buy the Model X's. Average income for Americans are 35-50k

Not sure how accurate this is, but median household income seems to be more in the 150-160k range for S/X owners. Which is a bit lower than I’d expect for such expensive cars, but not completely unreasonable imo depending on the rest of the financial profile. Tesla Demographics 2024 by Age, Income, Gender, Home Value

90k would be tough imo unless you have truly no expenses.

 

[Jayskywalker21]

Not sure how accurate this is, but median household income seems to be more in the 150-160k range for S/X owners. Which is a bit lower than I’d expect for such expensive cars, but not completely unreasonable imo depending on the rest of the financial profile. Tesla Demographics 2024 by Age, Income, Gender, Home Value

90k would be tough imo unless you have truly no expenses.

90k solo you could probably do it but not if you bought it new. Probably used/financed and not following any rules. 150-160k range joint could work even for these cars.

 

[Super_Popular]

90k solo you could probably do it but not if you bought it new. Probably used/financed and not following any rules. 150-160k range joint could work even for these cars.

I make less than that and have purchased many new and used Tesla’s since 2013, it’s all about good money management. I also do not have kids or a house, thank god.

 

[terranx]

I make less than that and have purchased many new and used Tesla’s since 2013, it’s all about good money management. I also do not have kids or a house, thank god.

I mean good money management is one thing, but unless you have a healthy trust fund, I'm just not seeing how it's feasible assuming you're talking pre-tax income. Simply rent, insurance, and the car payment itself would consume pretty much the entire monthly income. So nothing left over to save, invest, etc.

 

[Super_Popular]

I mean good money management is one thing, but unless you have a healthy trust fund, I'm just not seeing how it's feasible assuming you're talking pre-tax income. Simply rent, insurance, and the car payment itself would consume pretty much the entire monthly income. So nothing left over to save, invest, etc.

Rent, car payment and insurance does not consume $4k+ a month. It’s all about low costs and premiums. Lot’s of people do it. Not everyone that drives a Tesla is loaded, has a trust fund or retired.

 

[Jayskywalker21]

I make less than that and have purchased many new and used Tesla’s since 2013, it’s all about good money management. I also do not have kids or a house, thank god.

Then you are definitely good with your money I assume you don't waste a ton on clothes or eating out when you can cook/eat at home. Kids and housing are a big part. Also I see Portland as the location which the cost of living there isn't as bad as Major cities

 

[Super_Popular]

High interest rates are killing car sales, the best rate I got with excellent credit was 5.75%, that rate on any car over $50k is insane and not worth it.

 

[terranx]

Rent, car payment and insurance does not consume $4k+ a month. It’s all about low costs and premiums. Lot’s of people do it. Not everyone that drives a Tesla is loaded, has a trust fund or retired.

In even low cost of living areas, rent is going to be about $2k / month for a 2br these days. 80k (which is only a very recent price reduction) at 5% (which is lower than typical) for 6 years is going to be about $1300/month. Insurance another $2-300 / month. Maybe doesn't take up the entire $4k, but it leaves such a small cushion for misc expenses that I can't see it happening.

More power to you, but no way I could have afforded an S/X when I was making under 6 figures.

 

[TespaceX]

If you ever get involved in real estate investing, you’ll realize there’s A LOT of people out there making tons of money with little to show for on their tax returns. Write-offs can be huge with real estate.

Back to the topic, just one day left in January to see this magical Tesla price drop.

 

[davelv]

ICE car resale values will never drop like a rock, more than they already do. As evs become a larger portion of the fleet, gasoline usage will fall and its price will fall too making ICE usage much cheaper. There will also be 75% of the country where evs don’t make sense - cold and/or long distance driving areas. People living in cities on the coasts just have no idea how big the central and west USA are. And pickup trucks which are a huge portion of sales will always be 90%+ ICE.

 

[Jayskywalker21]

If you ever get involved in real estate investing, you’ll realize there’s A LOT of people out there making tons of money with little to show for on their tax returns. Write-offs can be huge with real estate.

Back to the topic, just one day left in January to see this magical Tesla price drop.

It aint coming lmao

 

[Tiger]

Not sure how accurate this is, but median household income seems to be more in the 150-160k range for S/X owners. Which is a bit lower than I’d expect for such expensive cars, but not completely unreasonable imo depending on the rest of the financial profile. Tesla Demographics 2024 by Age, Income, Gender, Home Value

90k would be tough imo unless you have truly no expenses.

This statistic must contain used ones too? I'd say people can roughly afford (high-end) a car that costs half of their income, and what is the median price of an X taking into account all available models and model years? Furthermore, that demographic probably contains all Tesla owners.

 

[Tiger]

It aint coming lmao

Weak sauce. We'll stand in line until EoQ /s

 

[threeputts]

Furthermore, that demographic probably contains all Tesla owners.

I found it interesting that the average income of new Y owners nearly identical to new S or X.

 

[TespaceX]

I found it interesting that the average income of new Y owners nearly identical to new S or X.

Maybe says that many people don't find the S and X worth its price relative to the Y.

 

[terranx]

This statistic must contain used ones too? I'd say people can roughly afford (high-end) a car that costs half of their income, and what is the median price of an X taking into account all available models and model years? Furthermore, that demographic probably contains all Tesla owners.

I mean it literally says new and show new model X at 162k and new Model S at 153k.

 

[Tiger]

I mean it literally says new and show new model X at 162k and new Model S at 153k.

Good to know. It's blocked from my ip, seems to be US only or something.

I got to see it now actually through 12ft ladder. But how many new owners have they already interviewed in January 2024 if it is a 2024 statistic, to make it statistically relvant? Nevertheless, one would assume the income needed comes down as the new sales prices decline.

 

[prindiaos]

Not sure how accurate this is, but median household income seems to be more in the 150-160k range for S/X owners. Which is a bit lower than I’d expect for such expensive cars, but not completely unreasonable imo depending on the rest of the financial profile. Tesla Demographics 2024 by Age, Income, Gender, Home Value

90k would be tough imo unless you have truly no expenses.

Fascinating. All of the Tesla owners I personally know fall into the bucket of (make > 300k/yr in W2 income, own a 3/Y), so I guess I was just stuck in my coastal/HCOL bubble and horribly miscalibrated on the market as a whole.

 

[Super_Popular]

Interest rates not coming down for a while so come on Tesla we need a $69990 X

 

[Jayskywalker21]

Interest rates not coming down for a while so come on Tesla we need a $69990 X

They do that and I'll order 2