[UK] used value of their Tesla cars plummeting?

[Utumno]

I would say “we didn’t burn him”, but the poor US visitor did indeed get burned.

I appreciate I’m not really helping the transatlantic detente here…

 

[GeorgeSymonds]

I thought it was the time for family photos, what with Christmas and all that…
I think we looked quite nice on that one, actually. Shame the kids couldn’t make it…

You do look better now you've had your teeth done

Group hug. Tesla values are depreciating all over the world at different rates, but for different reasons. I believe the US has some tax rebate/credit thing being discussed which has potentially been the cause of discounting there, whereas we have different issues but none directly linked to pre christmas discounts, our market competition differs too. Even in Europe the challenges are different, Norway wouldn't have the number of EVs it does if it wasn't effectively subsidised by taxes from the oil industry. It's not uncommon for people to end up in different countries sub region, but generally once people realise they just acknowledge the fact and move on. Life would be boring if we were all the same.

The one universal is probably Musk/Twitter, but thats done to death elsewhere.

 

[Durzel]

Significant price drops in China have been reported - per:

https://www.reddit.com/r/teslamotors/comments/104hwao

Apparently also in Australia, Japan, New Zealand, and South Korea.

Should be interesting to see if the UK follows suit.

There was a window back in around spring - summer last year where the delta for me to replace my 2020 M3P with a 2022 one, like for like (i.e. including FSD) was just under £10k. More recently it was ~£20k and I don't even want to look at what it is now.

 

[Mrklaw]

Prices went up a while ago multiple times in a short space of time. I assumed that was supply and demand related as queues were growing. This feels like a correction as supply frees up or demand eases (or both)

It will have an impact on resale values - just as the multiple price rises had a positive impact on resale values over the last year or two

Perhaps I’d prefer stability and predictable prices but it is what it is

 

[Durzel]

2023 is going to be a gloomy year all round I think.

Used car prices are getting back to reality. I think it's just more jarring because we've had a period where used prices were as much if not more than new in some cases, so the readjustment has been swift and severe.

 

[Mrklaw]

I bought my LR just before some big price hikes so will be partially insulated from some of the impact. But others that have bought at the current higher prices will be obviously harder hit

Would be curious to see % price after 3 years vs other cars - may still be well within average bounds just lower than we’ve been used to

 

[ACarneiro]

Well, my 2019 M3P- is worth just under half of what I bought it for.
50% after 3 years and 75000 miles is not terrible, tbf

 

[qwickshot]

25k a year for 3 years is good going!

If following the standard ICE (pre covid) used car market pricing, at 75k after 3 years you’d basically be pricing that as the cheapest non-crashed car on auto trader to try and shift it.

I’m also assuming that’s trade in value and not the actual resale value?

 

[BelfastEV]

Will we get price reductions do we think in UK for new 3/Y cars ?

 

[James-R10]

Will we get price reductions do we think in UK for new 3/Y cars ?

they have been discounted £4k still if you ask similarly to before new year. I think further discount coming as well.

 

[UrbanSplash]

Depends if they want to shift volume or chase high margin. Jan and Feb are difficult for car sales. They will need to do something.

 

[qwickshot]

They don’t have any cars to sell in January, the next boat won’t be until mid Feb or March.

Even if they cut £4K off the price, it’s still more expensive than a year ago.

 

[SR-Plus]

I’m not seeing the reduction in prices if you’re a buyer. If owners of MY LR cars are being quoted £40k to trade in then you’d imagine seeing cars on the forecourt for £44k but they’re still pretty much £48-52k.

Where do we think the prices of MS cars? Are they more resistant to price fluctuations due to limited supply of these cars as they were sold in fewer numbers compared to M3/Y ?

 

[James-R10]

I’m not seeing the reduction in prices if you’re a buyer. If owners of MY LR cars are being quoted £40k to trade in then you’d imagine seeing cars on the forecourt for £44k but they’re still pretty much £48-52k.

Where do we think the prices of MS cars? Are they more resistant to price fluctuations due to limited supply of these cars as they were sold in fewer numbers compared to M3/Y ?

There is a massive backlog on model s and x orders that wil take time to fill and the lag in them coming over here has meant they have held better and will for a while I think.

Mcu upgrades and FSD attached so computer and dampers upgrades are free will help

 

[Undecided_2]

I’m not worried as wet fueled cars are being fazed out. They’ll be a strong secondhand market for well cared for EV models like the MY during the next few years. Regardless, of newer non Tesla brands hitting the market over the coming years. Teslas charging network is reliable.

It’s a shame the Elon/Twitter noise spoils the brand IMO.

 

[Unclepaul]

New and used cars went way up in pricing over the last couple years. This is just pricing returning to normal.

 

[CWT3LR]

They don’t have any cars to sell in January, the next boat won’t be until mid Feb or March.

Even if they cut £4K off the price, it’s still more expensive than a year ago.

At least 50 each of Y/3 in UK inventory and those are just the ones they are listing in inventory. Probably hundreds more not listed. They currently produce more cars than they have orders for.

 

[Js1977]

Will we get price reductions do we think in UK for new 3/Y cars ?

Why do you ask? you've only just bought a Y haven't you ?

 

[qwickshot]

At least 50 each of Y/3 in UK inventory and those are just the ones they are listing in inventory. Probably hundreds more not listed. They currently produce more cars than they have orders for.

A whole 50 cars?

That’s literally a rounding error in their sales numbers.

 

[Utumno]

At least 50 each of Y/3 in UK inventory and those are just the ones they are listing in inventory. Probably hundreds more not listed. They currently produce more cars than they have orders for.

Not a single LR.