Thinking about joining legal action on recent massive price cut

[dmurphy]

Would you not be upset?

Nope.

Welcome to the automobile business.

I bought an ‘18 Enclave right when the new model launched.

6 months later:

I’m not even mildly upset. Nature of the car business.

 

[M3BlueGeorgia]

I got the rebate but would have rather it been factored into the car cost. People don’t mention in because the net car cost is lower now. Example...

My LR AWD - MSM - aeros and EAP: was $60k, less $7500 rebate $52.5k
Now: $51.2 less $1875 rebate = $49.3 ($3200 cheaper)

You can't currently buy EAP, but the implied difference between AP and EAP is $3K, which effectively eliminates the gap.

 

[jerry33]

Right - but the people who are really upset state there’s no new tech on the 3.

I doubt that very much. Tesla makes changes to the cars every batch they run--most changes are not mentioned, but the latest M3 are not going to be the same as the first M3.

 

[shaark]

Here is a sample of what early adopters got combined with the fact that Tesla didn't have as much economies of scale and cost of components such as batteries were significantly more. Most probably Tesla will reduce the prices further once the full federal rebate phases out. People just want to complain.

- $7500 Federal Rebate
- Free Unlimited Supercharging
- Significant referral awards
- Free Premium connectivity
- Higher chance of complimentary out of warranty services by the Service Center

 

[UTMB]

Here is a sample of what early adopters got combined with the fact that Tesla didn't have as much economies of scale and cost of components such as batteries were significantly more. Most probably Tesla will reduce the prices further once the full federal rebate phases out. People just want to complain.

- $7500 Federal Rebate
- Free Unlimited Supercharging
- Significant referral awards
- Free Premium connectivity
- Higher chance of complimentary out of warranty services by the Service Center

And rainbow glass (late adopter wipes tears from eyes)...

 

[Kilotango74]

With the recent major price reduction, I feel like I'm hit with the penalty for being a few months earlier adopter.

Not sure if I'd line up at the stores overnight or put reservation money.

I bet many of you, the loan balance is higher than how much you can buy the cars right now. Even with the tax credit refunds.

I can't even imagine how recent S or X owners feel right now.

You can easily disregard by saying 'that's how business works' but US is a country with lawsuits with a few MPG difference.

If there's no compensation gesture from Tesla, I'm willing to join a party with legal action. Do any of you know which firms are cooking up those ideas?

If your sitting around comparing prices that you paid vs what others are paying now you are obviously not spending enough time enjoying your car. You should probably sell it. You must not own much in the way of technology based products. What do you do when the sell phone you bought on day one drops to half price in a year? So tired of reading this BS. Tell you what pisses me off. I posted how happy I am that the price is going down before I purchase and my post gets locked and redirected to the general forum. This a$$hat talks about seeing Tesla because he somehow feels he has been slighted and is entitled to a payment and the post is stumbling on. Tells me that this forum is more about bitching about your experiences with Tesla and dragging down their reputation than it is about car enthusiasts sharing their experiences.

 

[Glamisduner]

Here is a sample of what early adopters got combined with the fact that Tesla didn't have as much economies of scale and cost of components such as batteries were significantly more. Most probably Tesla will reduce the prices further once the full federal rebate phases out. People just want to complain.

- $7500 Federal Rebate
- Free Unlimited Supercharging
- Significant referral awards
- Free Premium connectivity
- Higher chance of complimentary out of warranty services by the Service Center

Most people didn't get free supercharging it referral awards, and I'm not sure about complimentary warranty as most are still in warranty.

 

[scubastevo80]

You can't currently buy EAP, but the implied difference between AP and EAP is $3K, which effectively eliminates the gap.

Good point. Again, in hindsight, I'd rather basic autopilot given the extra EAP features I have are never used. Summon, Autopark and NoA don't have much value to me. NoA may benefit many who do a lot of road trips and have easy highway interchanges, but for where I live in NJ and my commute - not so much. If enhanced summon is given to EAP users, then maybe I'll feel better that EAP was a benefit over basic autopilot.

 

[Watts 4 Me]

We need a "get over it price adjustment" emoji.

 

[tomot]

Tesla did not break any laws:

There are 3 basic elements to a contact. This also needs to be taught in school, its not rocket science.

1. someone makes an offer:

2. someone accepts an offer:

3. parties exchange some consideration (ie a deposit) or simply shake hands

 

[traxila]

Whiny and entitled. Deal with it.

You got taken, sucka. You ain’t getting it back. As a shareholder thanks for padding my bottom line.

Now gonna go drive my M3P. Best car I ever had, my Model S included.

 

[MoHazee4]

I agree with OP.

Tesla changing the price so much is a slap in the face. I could buy a Performance model today for the price I paid for my Dual Motor, 5 months ago -- what's up with that?

Horrible. It also further depreciates the value of my vehicle - granted, all new cars depreciate, however, when the new one is now $10+ less - it puts me at an even greater loss.

Pretty messed up.

 

[Kenz]

As economies of scale kick in with increasing production numbers There will be or should be price reductions over time.
Battery costs are dropping every year as volume ramps up. Look at the price of computers or flat screen TV's. You get more for the same money or a lower price over time. Those flat screens were all over $1000 a few years ago for what you get today for $300.
Tesla's mission is to advance the adoption of electric vehicles. For more people to be able to afford a Tesla the price will need to come down. I could see Tesla building a less expensive sub compact sometime in the future.
Like anything else, do your research before you buy and then be happy with your decision. If Tesla raised the price a week after you bought it would you be running to give them a check for the price INCREASE. I doubt it. So just be happy with the amazing vehicle you purchased.

 

[Knightshade]

Some perspective from the past-


Model T in 1909 when it launched- $825 initially... this went up to $900 in 1910.


In 1911 volume had scaled, and Ford cut the price to $680.

In 1912 they cut it further to $590.

1913? $525

1914? $440

1915? $390

1916? $345

So within ~2 years of production start the new car price was ~25% cheaper than peak price...within 5 years more than 50% cheaper than peak... and kept going down several years after.

Weirdly nobody filed a class action against Henry Ford for any of this.

 

[ElectricGhost]

With the recent major price reduction, I feel like I'm hit with the penalty for being a few months earlier adopter.

Not sure if I'd line up at the stores overnight or put reservation money.

I bet many of you, the loan balance is higher than how much you can buy the cars right now. Even with the tax credit refunds.

I can't even imagine how recent S or X owners feel right now.

You can easily disregard by saying 'that's how business works' but US is a country with lawsuits with a few MPG difference.

If there's no compensation gesture from Tesla, I'm willing to join a party with legal action. Do any of you know which firms are cooking up those ideas?

Any luck? Ill join you. **** these other people. They are not the audience for your question any way.

 

[ElectricGhost]

I'm not beating the "start a lawsuit" drum. I don't want to hurt Tesla. But you all should be aware their price changes are much more dramatic than you think, and down right stupid in some cases. Consider my case:

I was an early adopter - I am proud that my money was able to help Tesla on its great mission. And I am completely thrilled with the car - big time cheer leader for the tech. Convinced a few friends through constant badgering to also buy car.

The fact that now you can buy the same car I bought ( actually better car - explanation coming) for 11K less is obnoxious. And it isn't that I am jealous of new buyers, but it is wrong on so many levels.

Fact - in Sept of 18 I bought a performance model 3. I paid $74,500. The only options I didn't get was the performance upgrade tires and brakes. I opted for the 18" rims, quite honestly because I had reached my mental limit with cost of car.

Fact 2 - 10 months later I can configure this same car for $62990. More than 11K less. And now you get all those extra's, upgraded brakes, 20" rims, higher top speed, carbon fiber spoiler, performance pedals. Heck my car didn't even get the badging. That is not right. I am not jealous of new buyers, but why shouldn't I be disappointed? Tesla just devalued my resale value big time. No dealer reduces a car price that much in first year, not even close.

Problems with this:
1. first early adopters naturally feel a bit taken advantage
2. value of car dropped unnaturally fast, not due to market, due to Tesla making a poor decision
3. Tesla is not yet profitable. Sales volume is up but they need to show profit. Why reduce premium version of car which is supposed to make profit so dramatically? I understand chasing 35K base model for mass appeal. But Performance model is not supposed to be that.

In my case I am really frustrated. The fact that now those extra performance options are essentially free- is really disappointing. As I said, the value of my investment has just dropped for no good reason I can see. And yeah, it stings. Yes I was able to take advantage of the full $7500 tax credit. And yes with that credit the $11500 gap is smaller, but remember I didn't get all the extras back then as a "early adopter".

Would you not be upset?

No one wants a well represented thorough opinion in here. You must be TESLAQ because you didnt expect your P3D to be worth 1/3 what you paid in 3 years. Shame on you...

Completely agree with you. All these other people that have have P3Ds shouldn't even comment. After 3 consecutive $5000 cuts in 3 consecutive quarters sign me up.

I mean if its $5000 who cares. Tesla pulls that value out of my car every quarter anyway. What's another quarter?

 

[UTMB]

Any luck? Ill join you. **** these other people. They are not the audience for your question any way.

Yet, here you are. “These people” would include me. The OP could be seen as satire or serious commentary; you seem to be taking it seriously.

OK, in that case, I’ll say that I felt pretty smart when I bought my car. It was too expensive last fall, and the price became perfect in April. Now it’s more perfect. As long as Tesla can cut production costs and recruit more buyers I say GET THE PRICE DOWN. More owners, more word of mouth, more affordability, much owners. And guess what, I’m going to buy another one. Love the car, love the new price.

One more thought: early adoption is risky, whether it be an early Lego release, a new iPhone or a new car. If you really want it first, you can camp outside the Apple Store door, or buy a Lego kit from a scalper on eBay or put up a deposit for the Model 3 or Y. But you’ll pay more, sometimes a lot more, thousands more... If you bought a Model 3 three months ago like I did, and you’re posting about class action then you’re either naive, not very introspective, or you’re writing (as I said) satire.

 

[Kleenerth3]

DRIVE YOUR CAR!!! Feel taken? See 1st sentence
Class action suit for a deal you signed up for? Never taken a law class?
See 1st sentence. You'll feel way better.
I'm glad when people get great deals. I shake the hand of the person who beats me in any competition. I hope everyone does as well as me or better.
It's called Karma and I don't mean the other EV either. See 1st sentence...

 

[traxila]

Class action my ass. Bet you all think you are capitalists as well, not to mention savvy entrepreneurs and supporters of the mission.

Oh me resale value is going down. Oh woe is me. Bail me out. Sue, sue, sue. I can’t believe my car is not appreciating. I can’t believe my new car is losing value. I just bought it, how can it lose value? My tummy hurts. Maybe we can set up a government relief program and fund it under the guise of fighting climate change.

Go ahead file a class action on the basis that Tesla cut the price of its cars after you bought one. Make sure you pay by the hour, cause ain’t no attorney worth anything that is gonna take that case on a contingent basis.

 

[Matt L]

I agree with OP.

Tesla changing the price so much is a slap in the face. I could buy a Performance model today for the price I paid for my Dual Motor, 5 months ago -- what's up with that?

Horrible. It also further depreciates the value of my vehicle - granted, all new cars depreciate, however, when the new one is now $10+ less - it puts me at an even greater loss.

Pretty messed up.

Don’t buy anything new ever again. Just wait. You will get so much more for your money!

I bet you can get a real steal on a ‘93 Ford Probe GT!