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[UK] used value of their Tesla cars plummeting?

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In that price band they have got to be an attractive alternative to the city car EVs which are more expensive new. And hopefully that’ll stop them going too much lower.

I could see myself switching my, very capable and enjoyable e208, for a 2nd hand M3 for our second EV.
It's a good thought but you've got to think of what will the e208 be worth by then and many others. It certainly will/would be great but it's food for thought.
 
There seems to be plenty of EVs in Greater London already but due to the ulez expansion (and equivalents in other cities) I feel there should be an increased demand for EVs.

For even the people most adamant on sticking with ICE cars they surely have to wonder when there will be a further restriction on which cars are deemed compliant 🤷‍♂️.
 
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There seems to be plenty of EVs in Greater London already but due to the ulez expansion (and equivalents in other cities) I feel there should be an increased demand for EVs.

For even the people most adamant on sticking with ICE cars they surely have to wonder when there will be a further restriction on which cars are deemed compliant 🤷‍♂️.
Some are aren't sticking out of stubbornness. Many people in London and across the country literally don't have the means, financial or otherwise to make the switch.

I reckon governments will incentivise used EV adoption in the future because I just don't see people willingly making the switch right now.

But either way, I don't know why the prices of Tesla's and other EV's dropping rapidly should be a bad sign or a contentious topic. It's a good indication that EV's are becoming an affordable option both used and new. I for one look forward to the day that I can confidently by a used EV, because aside from being part of an EV adoption drive, I see no reason why so many brand new cars need to exist when there are plenty of used ones available.
 
Some are aren't sticking out of stubbornness. Many people in London and across the country literally don't have the means, financial or otherwise to make the switch.

I reckon governments will incentivise used EV adoption in the future because I just don't see people willingly making the switch right now.

But either way, I don't know why the prices of Tesla's and other EV's dropping rapidly should be a bad sign or a contentious topic. It's a good indication that EV's are becoming an affordable option both used and new. I for one look forward to the day that I can confidently by a used EV, because aside from being part of an EV adoption drive, I see no reason why so many brand new cars need to exist when there are plenty of used ones available.
Without new ones, you don't get old ones ( in time)
 
In that price band they have got to be an attractive alternative to the city car EVs which are more expensive new. And hopefully that’ll stop them going too much lower.

I could see myself switching my, very capable and enjoyable e208, for a 2nd hand M3 for our second EV.
This is a good idea in principle but I reckon the insurance aspect may be a hurdle for some.

Probably not how you envisaged but I’d like to swap my daughters ICE for a Zoe at £25k. Just to be rid of the petrol car.

Insurance for a Zoe is painful; however, insurance on the M3 is not an option at any cost for an 18 year old regardless of the closeness in purchase price😉
 
There seems to be plenty of EVs in Greater London already but due to the ulez expansion (and equivalents in other cities) I feel there should be an increased demand for EVs.

For even the people most adamant on sticking with ICE cars they surely have to wonder when there will be a further restriction on which cars are deemed compliant 🤷‍♂️.
Anecdotally feels like replacements are being more inclined to sway towards EV, however energy prices the last 9 months haven’t helped matters at all. Lots of Uber drivers in the capital that had gone to EV are questioning the present economics of it, especially with the price of public charging which is frankly obscene.

Many London boroughs are still incentivising EVs through low/peppercorn visitor parking and permit parking prices for EVs.

There’s still only 2 years left before EVs will have to pay the congestion charge…the public purse in London is bankrupt.
 
Insurance for a Zoe is painful

How so? Is it very expensive for an 18-year-old despite being a cheaper and less powerful car, or is there another hurdle you've faced? Asking as a Zoe owner.

peppercorn visitor parking

Is that an autocomplete error, or is it a term I've not heard of before? If it's the latter, could you help me expand my vocabulary? :)
 

Specialized Creo Comp, £6250 list, I paid £3550.

Currently sourcing some Revo carbon wheelsets that will take the bike to pretty much S-works spec (£11k list price). Aiming for at least 50% discount on £2k list price wheel set.
That’s a cracking deal, congrats. Obviously seen your posts at the other place but hadn’t picked up quite how cheap it was!

Direct from specialized or a LBC?
 
That’s a cracking deal, congrats. Obviously seen your posts at the other place but hadn’t picked up quite how cheap it was!

Direct from specialized or a LBC?

Tredz, the prices now aren't as good as they were just after Xmas*. I got an additional 10% discount through work, and was able to add another £50 off post Xmas sale voucher.

I love new toys, but I hate paying over the odds. £3.5K is still nuts prices to pay for a pedal bike, but the quality is sublime. Our original X was order was 'Justified' on similar grounds, expensive, but lots of incentives (the 'free' PowerWall was just mad), free for life charging etc.

Its also why we didn't go ahead with the 3 order back in 2020, it wasn't that expensive but it just wasn't good 'value' compared to previous S/X pricing/options.

*Just checked price now are nearly £1000 more than what I paid!
 
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How so? Is it very expensive for an 18-year-old despite being a cheaper and less powerful car, or is there another hurdle you've faced? Asking as a Zoe owner.



Is that an autocomplete error, or is it a term I've not heard of before? If it's the latter, could you help me expand my vocabulary? :)
Islington Council used to charge a flat 20p to park an EV in any visitor space up to the maximum duration of the bay - in some case up to 4 hours. As of this month that’s gone up to £2 flat fee but still pretty good.

In Westminster Council areas you pay for the first 10 minutes of parking - around 88p and you can stay for the max bay time again. Hence why Taycans and Teslas are so popular and common to spot in the west end.

Peppercorn = nominal / comparatively cheap.
 
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Not pleasant reading from CarDealer Magazine

TLDR - Tesla used prices will continue to drop
  • Model Y has been flagged for ‘urgent review’ by trade pricing experts Cap HPI
  • Cap HPI’s director of valuations Derren Martin said: ‘The news regarding new car price drops for Tesla Model 3 and Model Y has led to a number of enquiries regarding used values and forecasts
  • It is likely that the price drops will encourage buyers into a new Tesla, potentially making used ones less attractive at current prices, particularly as new car lead times for these two models are relatively short.
  • With the volumes currently being remarketed, there could well be a further impact on used values, which are already under considerable pressure

 
Not pleasant reading from CarDealer Magazine

TLDR - Tesla used prices will continue to drop
  • Model Y has been flagged for ‘urgent review’ by trade pricing experts Cap HPI
  • Cap HPI’s director of valuations Derren Martin said: ‘The news regarding new car price drops for Tesla Model 3 and Model Y has led to a number of enquiries regarding used values and forecasts
  • It is likely that the price drops will encourage buyers into a new Tesla, potentially making used ones less attractive at current prices, particularly as new car lead times for these two models are relatively short.
  • With the volumes currently being remarketed, there could well be a further impact on used values, which are already under considerable pressure

Heard exactly this today. My 2020 M3P has CAP of 31.5-32.5 but with the flag for review affecting 3 as well as Y.
And here’s an example of why prices are dropping: I’m working away, drove my usual 144 mostly motorway miles 80%-10% this morning. Charged this eve ready to go home at the end of the week at MFG through Electroverse, 57kwh was £43. So for 500 miles, that’s over £150 at public rates. That’s worse than my wife’s diesel Defender.
 
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You know the actual reason why these cars are dropping in price don't you? It's nothing to do with electric prices (or every other electric vehicle would be suffering the same, they aren't), it's nothing to do with Tesla's recent price reduction lol.

It's literally because every man and his dog leased one of these for 3 years when they first came out. Deliveries of these leases started taking place properly in November/December. These have now nearly ALL gone to auction, thus flooding the market, flooding BCA and there are now an abnormal amount of Model 3's about in the for sale streams.

This is it

Do not panic. Think about logically, you can now pick up a model 3 performance for 30-32k. The same price as a 70 plate electric MG, it doesn't make sense and won't last.
 
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