Sudden price drop past couple months?

[whipatessy]

I have been following Model Y updates pretty closely since Giga Texas took over, and have been looking since 2021 for the more practical 2021+ Model Y LR to replace my 2022 Model 3 Standard. About 2 months ago you couldn't find one under $67k and now on autotrader I see loads along the west coast for sale around $63-64k. Does anybody know why this may be?

 

[PaulSeivert]

I have been following Model Y updates pretty closely since Giga Texas took over, and have been looking since 2021 for the more practical 2021+ Model Y LR to replace my 2022 Model 3 Standard. About 2 months ago you couldn't find one under $67k and now on autotrader I see loads along the west coast for sale around $63-64k. Does anybody know why this may be?

Delivery times are getting shorter. Now you can get a MYP within weeks of ordering. A big part of the value of used Teslas was that you could avoid a long wait. The shorter the wait for a new Tesla, the less valuable a used Tesla becomes.

 

[jjrandorin]

I have been following Model Y updates pretty closely since Giga Texas took over, and have been looking since 2021 for the more practical 2021+ Model Y LR to replace my 2022 Model 3 Standard. About 2 months ago you couldn't find one under $67k and now on autotrader I see loads along the west coast for sale around $63-64k. Does anybody know why this may be?

You are talking about pricing on used cars, in a market where they were selling at MORE THAN NEW. The thread title is a bit clickbaitish to me, since no, there has been no "sudden drop on model Y pricing" unless you are talking about used ones which were overpriced and continue to be so.

 

[voxel]

Prices shot up 40% in a year or so... so the 10% correction over the past 8-10 weeks is reasonable. It should fall a bit more since used prices can still be more than new and interest rates went up.

 

[DerbyCityY]

I wonder if the EV credit has something to do with the changing market?

 

[Rootboy]

According to Mannheim (auto auction), used car prices are down something like 15% last month. The largest drop ever. That said, the used car market is still was high (30%?) since pre-pandemic. Personally, market is still too rich for my blood.

 

[240vPlug]

Supply increased and softening demand.

 

[1flossedm3]

Everything is down, housing, watches, luxury items.. Teslas are headed down as well as with the rest of the used car market which has been inflated for a couple years.