Tesla drops prices on X/S $20k. All colors free. Bye bye resale

[father_of_6]

No one would be happy about the market value of their vehicle taking a huge dive recently after purchasing, but can anyone really take it out on Tesla?

It's not their goal to protect the market value of your vehicle. It's their goal to sell, and they're doing what they feel is best for sales.

 

[E90alex]

He said that about FSD, not the car, but it's clearly not.

FSD got a price drop too

 

[voxel]

Please show me a car that loses 40% of its value when driven off of the lot, go read a book.

You seem like the typical sheep who regurgitates things their parents told them as children blindly.

Show me a car that drops 40% after being driven off of the lot.

Polestar 2, Audi e-tron GT, Mercedes EQS are instantly depreciate 30-40% the second you drive off the lot. It’s why there are significant incentives to move them. Well… P2 not really… just buy used IMO.

 

[FirstTime22]

Polestar 2, Audi e-tron GT, Mercedes EQS are instantly depreciate 30-40% the second you drive off the lot. It’s why there are significant incentives to move them. Well… P2 not really… just buy used IMO.

show me a listing for any of those cars with a 40% drop. In fact show me a 2022 or 2023 model for any of those cars selling at a 40% discount.

 

[ucmndd]

Tesla is tanking the value of these cars.

I disagree. The market is deciding what these cars are worth, and Tesla is doing the only thing they can - respond.

 

[SO16]

wow, I’ve never lost so much money on a car

Paid 110k for this car 1 year ago.
Almost a 50% rexuctionj

The SAME car I bought 12 months ago has lost 50% of its value. Your car is 7 years old and a pre refresh model. It isn’t normal to depreciate 50% in a year, so respectfully you are wrong.

I’d rather my next vehicle will be an even better value than worry about my resale.

Insurance would go down compared to another high priced vehicle. Taxes goes down. Registration goes down.

I paid 105k for my 2017 MS 90D. Can now get a car with much more power, feature, range, etc for far less.

Just like I don’t want to still pay 12k for a cell phone like they first were.

But for those that buy a car for one year and then want to flip, yeah, you’re screwed. I buy a car and keep for many years. Resale means little to me.

If one is going to be that susceptible to resale values, buy used or lease.

 

[f308gt4]

Damn, what lousy luck I have. I bought my Model S Plaid for $102k and picked it up on Wed. Now with this drop, same car costs $89k.

When I bought my Model 3P in 2020, the price dropped $1k the day after mine was delivered. Tesla did make it right by sending me a check for $1000 several weeks later. I can’t imagine the same thing will happen with the S.

What a bummer for me, but hopefully lucky for someone else who is looking to buy.

 

[FirstTime22]

I’d rather my next vehicle will be an even better value than worry about my resale.

Insurance would go down. Taxes goes down. Registration goes down.

Again- nobody who buys a car expects a 40% drop in value after 1 year. Otherwise

show me a listing for any of those cars with a 40% drop. In fact show me a 2022 or 2023 model for any of those cars selling at a 40% discount.

Im waiting

 

[cybernation]

I didn’t think it was an investment , I planned to trade it in due to what a garbage made car it is and now I lost some cash.

What homework is to be done? No car has ever lost that much value in one year of ownership. Nobody would buy a car that did that.

If the car is garbage, why didn't you trade it in immediately? Why are you on a forum complaining about it? If i buy a POS, i try to rid my life of it and just forget about the wasted money.

 

[uscbucsfan]

If the car is garbage, why didn't you trade it in immediately? Why are you on a forum complaining about it? If i buy a POS, i try to rid my life of it and just forget about the wasted money.

Outside of the melting/peeling yoke, it's the best car I've ever owned and Tesla said they would fix the yoke when the new one comes out at the end of the month.

 

[cybernation]

Again- nobody who buys a car expects a 40% drop in value after 1 year. Otherwise

Im waiting

Dodge did the same thing to the Viper. It was 130K Canadian, then overnight MSRP dropped to 99K.

 

[FirstTime22]

If the car is garbage, why didn't you trade it in immediately? Why are you on a forum complaining about it? If i buy a POS, i try to rid my life of it and just forget about the wasted money.

That is for sure on me.

 

[ucmndd]

Again- nobody who buys a car expects a 40% drop in value after 1 year. Otherwise

Im waiting

30% off MSRP back in March with ~1,000 miles. No doubt the same car would sell for quite a bit less 6 months later given the market…

2022 Polestar 2 Dual Motor Performance - ~1,000 Miles, 408-hp Dual Motor AWD, Highly Equipped

This 2022 Polestar 2 Dual Motor Performance is for sale on Cars & Bids! Auction ends March 8 2023.

carsandbids.com

Blah blah tax credit blah blah maybe they didn’t pay MSRP blah blah. I know. It’s still a reasonable example.

Bottom line, Tesla’s job is to sell cars. Not protect your “investment”. Seems you overpaid based on what the market is saying these cars are worth.

 

[Eugene Ash]

We've been through this before if anyone remembers $69420 model S standard range that was for sale new. It did not affect the long-term resale trend, as they were selling for well over that at the peak of prices frenzy. I followed from sidelines as I wanted to get back into S from the model 3 I have while used Model S were still selling at around 80k. This too shall pass. Enjoy your cars, ignore Mr. Market yelling car prices at the parking lot.

 

[Hamrhead]

Dodge did the same thing to the Viper. It was 130K Canadian, then overnight MSRP dropped to 99K.

I got lucky with this car. Bought my '15 Viper for significantly less than MSRP. Now look at what they're going for!

 

[DP1096]

Get that GAP insurance, people.

 

[ginmqi]

Alright, I totally get the frustration....BUt I also feel like if you are splurging 100k-130k+ on a Plaid...you KNOW this was going to be a money losing proposition...it's not going to be a collectible like the outgoing Vipers or other discontinuing sports cars....it is a LUXURY item that you lose money on because you choose to enjoy the insane performance of a Plaid that the only other cars can even touch are hypercars that only the 0.1% can afford (Bugatti Chiron, etc.)

I'm glad I'm been waiting to buy a Plaid...I was slightly tempted by their end of Q2 sales push...but now that a new PLaid is less than 90k new AND all colors included...I am more tempted but I am going to continue to wait to see what Tesla rolls out at the end of this month (end of Q3) and then I'll see what its like December to see if they can even slash price of a Plaid even more.

You do have to commend and be impressed by how much Tesla is able to make in terms of profit margin on the Plaid...going from 130k to 89k and STILL making a profit on each car.....

 

[brkaus]

So does this have a camera in the nose?

I was going to hold off trading in my 2017, but this may change things. And Plaid is even more tempting now. My State Farm guy needs some money to buy a boat.

 

[ks1972]

Alright, I totally get the frustration....BUt I also feel like if you are splurging 100k-130k+ on a Plaid...you KNOW this was going to be a money losing proposition...it's not going to be a collectible like the outgoing Vipers or other discontinuing sports cars....it is a LUXURY item that you lose money on because you choose to enjoy the insane performance of a Plaid that the only other cars can even touch are hypercars that only the 0.1% can afford (Bugatti Chiron, etc.)

I'm glad I'm been waiting to buy a Plaid...I was slightly tempted by their end of Q2 sales push...but now that a new PLaid is less than 90k new AND all colors included...I am more tempted but I am going to continue to wait to see what Tesla rolls out at the end of this month (end of Q3) and then I'll see what its like December to see if they can even slash price of a Plaid even more.

You do have to commend and be impressed by how much Tesla is able to make in terms of profit margin on the Plaid...going from 130k to 89k and STILL making a profit on each car.....

I have been looking to replace my 2018 model 3 with another S, but, even after 3 test drives, I still can’t buy a car without stalks. I guess I will just buy an M3P by month end before M3 also loses stalks

 

[JeffMH]

I imagine 4 years from now the resale market will settle somewhere between all the various prices. That 20k decrease in cost today will not equate to a 20k less resale value in 5 years. Just a guess of course. I'm sure it lowers it some but my guess is the resale market will average out somewhere between all the prices. P100D still has decent resale / trade-in value so I can't imagine it just killing the resale market altogether. If you bought the car and plan on selling it within a year or two, yea, you probably will feel it a bit more.

I'm not mindless, it would have been nice to get this price 6 months ago (20k is a significant amount of money), but I just love everything about the car. I was ok paying what I did, and have 0 regrets. The car is just awesome. I bought the car when the big price drop happened then, I surely can't be too surprised with another price drop now.