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[UK] Price cuts

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I think we all saw this coming. I paid £47k for my RWD M3 back in March 2022 (annoyingly just after a price rise) same car now is £44k. However with the increased APR on the Tesla Loan since then the car today with same deposit would cost the same per month (couple of quid difference).

Just kinda sucks for resale value I guess but I'm not planning on shifting it anytime soon.
 
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I think we all saw this coming. I paid £47k for my RWD M3 back in March 2022 (annoyingly just after a price rise) same car now is £44k. However with the increased APR on the Tesla Loan since then the car today with same deposit would cost the same per month (couple of quid difference).

Just kinda sucks for resale value I guess but I'm not planning on shifting it anytime soon.
And the price will change many more times before you resell.
 
kinda sucks for resale value

Compared to recent giddy prices that's definitely the case, but for anyone buying now and keeping it, say, 3 years I'm not sure it matters.

In 3 years time the number of people wanting a second hand EV will be massive (compared to the number of people buying one today). Sellers market ... although that will be influenced by the margin between 2nd hand and new price at the time.

Anyways, 3 years at 10% inflation and £Pound falling will change the numbers favourably!!?
 
Am I the only one happy that the prices have come down and become more affordable*? I think it's great they're slashing prices. Competition is heating up and they needed to pull a demand lever. Also, (high speculation ahead) could it be they're anticipating a new product soon? A cheaper car like they've always promised? Who knows, but I for one was happy with the price I got and am happy for those being able to pick up cheaper.

*6.9% finance actually means monthlys stay about the same or even more depending on your down. If you get a good finance deal, new buyers should have a nice affordable deal overall.
 
Am I the only one happy that the prices have come down and become more affordable*?

Nope, you're not alone.

I want to buy my Tesla Model 3 Performance off my own Company.

So the lower market price means I pay less Corporation Tax... ducking the bill at both ends...

I'll keep this car for as long as necessary.

Originally paid £61,090 in September 2021
Same spec it's now £59,090 in January 2023
 
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Little annoyed, just ordered M3P last week!
I wouldn't worry about that, just cancel the order if they won't budge on price.

I suspect the reason they left it until today was to stop people returning the cars that were delivered under any 14 day cooling off period, so if you haven't even had the car delivered then you should have no issues!
 
Compared to recent giddy prices that's definitely the case, but for anyone buying now and keeping it, say, 3 years I'm not sure it matters.

In 3 years time the number of people wanting a second hand EV will be massive (compared to the number of people buying one today). Sellers market ... although that will be influenced by the margin between 2nd hand and new price at the time.

Anyways, 3 years at 10% inflation and £Pound falling will change the numbers favourably!!?
Pure speculation. It's just as likely that second-hand ICE prices tank in 3 years, and they look way, way better value depending on what gov does about taxes. If EV's do take off then OPEC may drop prices to sell fuel while UK's leccy infrastructure struggles and EM goes off the deep end and 'Ratners' the brand. Or Tesla suddenly decides to give their dysfunctional FSD away free with their second-hand and new cars. Or Putin throws another spanner or China's sabre-rattling screws everyone up. Take your pick.
 
Pure speculation. It's just as likely that second-hand ICE prices tank in 3 years, and they look way, way better value depending on what gov does about taxes. If EV's do take off then OPEC may drop prices to sell fuel while UK's leccy infrastructure struggles and EM goes off the deep end and 'Ratners' the brand. Or Tesla suddenly decides to give their dysfunctional FSD away free with their second-hand and new cars. Or Putin throws another spanner or China's sabre-rattling screws everyone up. Take your pick.

I'm picking the Aliens have have landed option...
 
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Anyone who paid Cash and did not trade in in December is going to feel a little aggrieved by this but for everyone else you probably benefited from either increased trade in or lower APR than you would get today so there may be little or no real difference.
And for everyone else who bought last year, surely most of us plan to keep the cars for 3 years plus so this change today will have minimal impact.
 
Pure speculation. It's just as likely that second-hand ICE prices tank in 3 years, and they look way, way better value depending on what gov does about taxes. If EV's do take off then OPEC may drop prices to sell fuel while UK's leccy infrastructure struggles and EM goes off the deep end and 'Ratners' the brand. Or Tesla suddenly decides to give their dysfunctional FSD away free with their second-hand and new cars. Or Putin throws another spanner or China's sabre-rattling screws everyone up. Take your pick.
It’s mind boggling to me the way people are still seemingly justifying their Tesla purchases based on residuals. I can’t fathom the number of people who seem to treat buying a tesla like they’re investing these days. People are trying to hedge the purchase of a depreciating asset like they’re Michael burry minus the data (because we’re in totally uncharted territory, global instability, covid market bizarreness settling, recession). It’s just an expense - that’s all cars have ever been and ever will be, aside from a very niche market that takes decades of experience to judge and big money to play in.

FOMO for features and discounts right at the point of ordering are one thing, but anyone who saw what tesla did to model s and x residuals would know all of the above.
 
There are even bigger reductions in the US -up to 20% off an MY. A comment from electrek:

“These price cuts will reverse the price portion of Tesla’s demand concerns, but it remains to be seen whether customers will remain turned off by the brand destruction to which its CEO seems committed.”

Would be interested to see what is happening in other European countries.
 
In return period since only picked up yesterday. Due to Apr changes it’s only £30 less a month and I got some super charged miles so I’m only a few £100 worse off over 4 years…
 
In my own personal case, I bought my Tesla through my small Limited Company.

I had a choice with the £60,000 ...

I either paid £ 11,400 to the Government in Corporation Tax, and banked the remaining £ 48,600

... or just pay it to myself at 40% income tax rate...

... or buy a Tesla Model 3 Performance car with it... with 100% drawdown to avoid paying any tax. (I would've lost the £ 11,400 anyways)

Then, once it's in my sweaty hands... I only paid 1% benefit in kind tax (at the time) £600 per year.

HELLO...

So, now my plan is to buy it off the Company as an asset sale. As low market value as the HMRC will tolerate.

I'll most likely wait, be patient, until BIK Rates increase dramatically...

What did Elon Musk say?... these Tesla Model 3 Batteries and Motors are good for 1,000,000 miles...
 
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