[UK] used value of their Tesla cars plummeting?

[Kenners]

Wait was 6m+ earlier in the year for MYLR, longer for M3. M3LR went up £10k and MY £3k. These things kept residuals high. Normality is now returning.

Of the three Tesla’s I’ve bought all started with a long delivery time on the website and after a few weeks that turned into a call telling me to be ready for delivery (including a LR Y which I ordered in Feb, was offered in March which I bumped to June). Never had to call Telsa up to ask when is the car coming. The 6m+ story is not my real world experience.

Most of the lag is due to the cadence of quarterly delivies, so I would guess that might account for a perception that they were scarce.

I have had to wait longer for every other car I’ve ever bought, when there were no supply chain issues.

 

[ZenRockGarden]

I never understood this as it has always been pretty easy to buy a new Tesla, unless you are waiting for a model not in production.

There's been a 6 month to year-plus waiting list to get one. That's gettingshorter, but there are essentially zero models you can just walk up and "buy"

 

[Kenners]

There's been a 6 month to year-plus waiting list to get one. That's gettingshorter, but there are essentially zero models you can just walk up and "buy"

Yeah, I know in the US it is a different story with wait times (was looking at it through a UK lens) and of course you haven’t been able to walk up and buy, as there is no pool if dealers that they try and shift inventory onto, or in the case of the US dealers that then add another 20%+ onto the recommended retail price, as has been the case more recently.

 

[Jason71]

Of the three Tesla’s I’ve bought all started with a long delivery time on the website and after a few weeks that turned into a call telling me to be ready for delivery (including a LR Y which I ordered in Feb, was offered in March which I bumped to June). Never had to call Telsa up to ask when is the car coming. The 6m+ story is not my real world experience.

Most of the lag is due to the cadence of quarterly delivies, so I would guess that might account for a perception that they were scarce.

I have had to wait longer for every other car I’ve ever bought, when there were no supply chain issues.

Yes but you are a very small sample size even if you have had 3 cars.
You probably never ordered a car right before the Chinese govt shut the factory down . I ordered an MY in March when the expected lead time was about 6 weeks. I got it in September i.e. 6 months. a lot of the people picking up MYLR this month ordered in June /July and lets not even talk about MYP and M3LR which some people collecting now have waited the best part of a year for.
BUT
order an MYP or MYSR now and allegedly you will get it before Christmas.

 

[EVer Hopeful]

4 months to the day between ordering and delivery

 

[DeejUK]

MYP and M3LR which some people collecting now have waited the best part of a year for

13 months in the case of MYP.

 

[Jason71]

13 months in the case of MYP.

I said we weren't talking about that

 

[Kenners]

Yes but you are a very small sample size even if you have had 3 cars.
You probably never ordered a car right before the Chinese govt shut the factory down . I ordered an MY in March when the expected lead time was about 6 weeks. I got it in September i.e. 6 months. a lot of the people picking up MYLR this month ordered in June /July and lets not even talk about MYP and M3LR which some people collecting now have waited the best part of a year for.
BUT
order an MYP or MYSR now and allegedly you will get it before Christmas.

I had a Cybertruck order, I will add that to my average

 

[ACarneiro]

I had a Cybertruck order, I will add that to my average

Were those ever available to order in the UK?

 

[Kenners]

Were those ever available to order in the UK?

Well reservation was, got the deposit back when I ordered the Y.

 

[ACarneiro]

It would be hilarious to see one of those navigating the typical UK roads…

 

[candida]

Only thing falling quicker than second hand values is the share price…

 

[Durzel]

Tesla's stock price is heavily predicated on the continued perception of Musk as a disruptive genius. In pure numbers terms it doesn't add up as it eclipses all of the other manufacturers, whose stock price is largely based on actual results.

With his antics at Twitter there is a strong argument to be made - reflected in the deteriorating share price - that perhaps his previous successes were more fortuitous (or more down to others) than his acolytes would have you believe.

There is also the very real prospect that he will have to continually liquidate his Tesla stock to prop Twitter up. The only way I can see the share price rising is if a) he hands off control wholesale to someone else - which I can't see his ego doing or b) he sells it at whatever loss he currently faces. Twitter has a massive debt burden to service, he has to somehow do what the company has been unable to do in 16 years. Based on his recent behaviour this looks less and less likely by the day.

 

[ACarneiro]

With his antics at Twitter there is a strong argument to be made - reflected in the deteriorating share price - that perhaps his previous successes were more fortuitous (or more down to others) than his acolytes would have you believe.

I would have to disagree.
His previous successes have been far too resounding and far too difficult and done more than once for it all to just be a fluke.

The issue seems to be that he is tackling a completely different set of problems. You could argue that Tesla and SpaceX solved fiendishly difficult technical and technological problems, whereas Twitter is more of a sociological and philosophical problem (which, I fear, may actually have no solution!).
His brain may be wired in a way that makes it possible to solve the former but not the latter.

I think he deserves the benefit of the doubt. It's not the first time he has solved "impossible problems".

As it turn out, I intensely dislike "social media" anyway so I have no real interest in the outcome, but this is being a fascinating saga to watch nonetheless.

 

[candida]

As it turn out, I intensely dislike "social media" anyway

tee hee

 

[ACarneiro]

View attachment 877119

tee hee

Touché

 

[EVer Hopeful]

Tesla's stock price is heavily predicated on the continued perception of Musk as a disruptive genius. In pure numbers terms it doesn't add up as it eclipses all of the other manufacturers, whose stock price is largely based on actual results.

With his antics at Twitter there is a strong argument to be made - reflected in the deteriorating share price - that perhaps his previous successes were more fortuitous (or more down to others) than his acolytes would have you believe.

There is also the very real prospect that he will have to continually liquidate his Tesla stock to prop Twitter up. The only way I can see the share price rising is if a) he hands off control wholesale to someone else - which I can't see his ego doing or b) he sells it at whatever loss he currently faces. Twitter has a massive debt burden to service, he has to somehow do what the company has been unable to do in 16 years. Based on his recent behaviour this looks less and less likely by the day.

I'm not a fan boy by any means, in fact some of his antics are just embarrassing, but I take your first paragraph as more opinion than fact (though not necessarily incorrect)

I agree with your second paragraph that others played a huge role in Tesla's success - something that large is always teamwork after all

But your third paragraph is interesting because you say (i) that Twitter "has been unable to [make money] in 16 years" and (ii) that "Based on his recent behaviour". Yes his behaviour is ...erratic to be polite, and it's certainly not how Twitter was run previously, but maybe, just maybe that difference might engender a different result and the company might actually start making money

. . . though I have to add that it does seem unlikely at the moment

 

[Bouba]

I'm not a fan boy by any means, in fact some of his antics are just embarrassing, but I take your first paragraph as more opinion than fact (though not necessarily incorrect)

I agree with your second paragraph that others played a huge role in Tesla's success - something that large is always teamwork after all

But your third paragraph is interesting because you say (i) that Twitter "has been unable to [make money] in 16 years" and (ii) that "Based on his recent behaviour". Yes his behaviour is ...erratic to be polite, and it's certainly not how Twitter was run previously, but maybe, just maybe that difference might engender a different result and the company might actually start making money

. . . though I have to add that it does seem unlikely at the moment

I also think that Elon knows that success is down to teamwork...and that he is proud of his teams at Tesla and Space X etc...and that is why he is certain that if he gets a better Twitter team then success is assured.
Vision, entrepreneurialship and leadership are all part of the mix for any successful businessman

 

[Silicon Desert]

For me, I never worry about the value of any car dropping. I drive them till they die and almost never resell them or trade them in. Not worried about how an insurance company will value it in an accident either. Frankly, I would be more worried about a plummeting house price if I were OP. It's a much bigger price tag.

 

[WKUK]

I traded into a MY with pretty much zero cost of change. Sale of old car in silly ICE used market bubble settled all outstanding finance and paid MY deposit

Monthly MY PCP + charging is essentially the same as previous ICE PCP + fuel (albeit the PCP element is higher on MY)

Given those numbers I know what I'd rather hold as an "asset" in 4 years time, it's a no-brainer

...but anyone buying a daily use car as any kind of investment is crazy IMO