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[UK] used value of their Tesla cars plummeting?
- Thread starter Ricecooker
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Sorry, it's kind of confusing if the first "k" was referring to currency and the second "k" mileage. Please don't be lazy people - use currency symbols where appropriate and words like "miles". Because that could've been a Model 3 Performance bought for £58k with Tesla offering £17k for it.
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Jason71
Well-Known Member
Not just you. I thought the sameSorry, it's kind of confusing if the first "k" was referring to currency and the second "k" mileage. Please don't be lazy people - use currency symbols where appropriate and words like "miles". Because that could've been a Model 3 Performance bought for £58k with Tesla offering £17k for it.
bought mine in March 2022, looking at prices I paid about £900 more than now. That said I got parking sensors so happy with car as would have paid that much extra to have them and when I do trade its respective, may be the trade of mine will be less but so will be price of new car
Car prices went up like crazy due to Covid production limitations. Now that production is ramping back up most all the companies are relaxing their pricing back to normal. Excessive dealership markups are going away as well.
For a while, a used Tesla was selling for more than a new one. People were selling their used cars at huge profits and buying a brand new one with no out of pocket costs....strange times indeed.
Now with Germany, USA, and China getting the latest large casting technology production is ramping up and supply line costs coming down, pricing can be lowered.
Most EV producers are trying to get their pricing down to qualify for government rebate schemes as well.
For a while, a used Tesla was selling for more than a new one. People were selling their used cars at huge profits and buying a brand new one with no out of pocket costs....strange times indeed.
Now with Germany, USA, and China getting the latest large casting technology production is ramping up and supply line costs coming down, pricing can be lowered.
Most EV producers are trying to get their pricing down to qualify for government rebate schemes as well.
Mostly because of the increased charging costs and the inconvenience of the public charging network (not all of them were Tesla drivers). The falling residuals just makes them feel smart.
No one believed that explanation. Forward orders fell off a cliff. Tesla is going to have to discount to continue to move cars.
£17k lol this is a joke honestly.
At some point the value of the car prevails. There is no comparison out there for 17k.....
It's worth noting that Tesla have not reduced their model used pricing anywhere near in-line with everyone else.
To those whom disagreed with this... Are you so closed-minded as to think that just because you interpreted an ambiguous post in a certain way, it's not an ambiguous post? Or that somebody is wrong to suggest it could be interpreted a different way? Just curious as to what exactly you're disagreeing with here. Note that some agree with the post and posted to say they interpreted the post as currency only without mileage. So if you disagreed, perhaps open your mind a little.Sorry, it's kind of confusing if the first "k" was referring to currency and the second "k" mileage. Please don't be lazy people - use currency symbols where appropriate and words like "miles". Because that could've been a Model 3 Performance bought for £58k with Tesla offering £17k for it.
MashinBenzin
Member
It’s not a joke, it’s a reflection of how much Tesla want a four year old Model 3 on their books, nothing more. They probably have rather a lot after all the trade-ins for Model Ys.
If not happy with the price offered, try elsewhere. An auction on carwow or Motorway will give a very clear idea of what the most competitive trade value for a car is.
If a dealer needs/wants a Model 3 for his forecourt/group, he will bid strongly.
Lol I want a new BMW M3 for £30k but that doesn’t mean it isn’t a joke.
17k for a model 3 is a joke… cheapest on auto trader is around 26k. Drop off the high horse and get a little more realistic. £17k for this level of car is insane. Can barely get a golf R for that
Jason71
Well-Known Member
It may be a reflection on demand though? Tesla use trade in as a demand lever. If they are low balling that may suggest the price cut has done its job demand is up and they can afford to pass up the sale?
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