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[UK] used value of their Tesla cars plummeting?

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I think some of the earlier comments about valuations are right, neither Tesla nor WBAC want our cars.

So they’re offering very low prices. Most sellers will walk away. Someone desperate might accept the offer, but at those prices the buyers know they can make good money quickly.

I’m not too worried as a) I don’t need to sell and b) the fundamentals still apply. By that I mean when the market calms down Tesla will be selling MY LR for approx £53k. I understand that demand has gone up, there are buyers at that price. So if, as a buyer, my option is a new one from Tesla for £53k or a used 1 yr old one, how much less does the used one need to be to be competitive? My guess would be £45-47k. So a in a normal market a dealer should be happy to buy that off me for say, £42-44k. So that is what I think my MY is likely worth in a calm market. That is much more than WBAC will currently offer, but I bet their CFO is telling them to conserve cash while worrying about a recession (fewer sales) plus seeing increased costs for them to hold stock, so their system makes low ball bids.
Nearly £10k in value by WBAC is some ‘adjustment’.

I imagine Tesla might not sell as many cars to existing Tesla owners currently if their part ex is a piss take. Yes list price is down, but I will give you nothing for your Model 3
 
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I don't think Tesla particularly care if existing owners are among the group of future owners of cars they're trying to sell, so long as someone is buying them.

I've said it before but I can imagine a state of affairs where a great many post Model S/X Tesla owners are a "once bitten, twice shy" breed, people who bought into the brand wholesale, realised to a greater or lesser extent that there is a lot of smoke and mirrors, and end up switching to another brand on their subsequent cars.

Speaking personally I'm cheesed off that I got ripped off on FSD in the UK, and self driving development in general which has gone absolutely nowhere in the 3 years that I've owned my 3. I wouldn't say I feel outright scammed on the car as a whole, but the public pre-ownership image of Tesla is some distance away from reality.

That's not to say that they won't continue to attract a clientele who need or want specifically what Tesla is offering, but I can imagine casual customers falling out of love with them. Casual owners are getting a lot more exposure to Musk's antics as well, and unlike most other brands he is indelibly linked to it.
 
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Argh, I was just typing that I actually prefer the chrome 🤭
It works better on some colours than others. I’m inclined to go back to chrome at some point, particularly since cars have been black since 2021.

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I posted this 3 weeks ago and I'm slightly worried June has become January based on some of the offers out there.

I'm glad i don't need to sell, and the decision over whether I want to sell is currently made for me with the prices. What's kind of odd is that when I swapped the M3 for the MY back in March the part ex seemed over the top against the market as if they were trying to buy the business, and at a time when they didn;t seem to need to (the MY was just out and they were selling privately over list). They're certainly not trying to do that at the moment.
Delivery was down to 6 weeks for an MY in March. They were already headed into over supply then. So yes they were over paying on tradein to shift cars. Then Shanghai covid hit and suddenly the wait went up to 6 months almost over night.
 
I think some of the earlier comments about valuations are right, neither Tesla nor WBAC want our cars.

So they’re offering very low prices. Most sellers will walk away. Someone desperate might accept the offer, but at those prices the buyers know they can make good money quickly.

I’m not too worried as a) I don’t need to sell and b) the fundamentals still apply. By that I mean when the market calms down Tesla will be selling MY LR for approx £53k. I understand that demand has gone up, there are buyers at that price. So if, as a buyer, my option is a new one from Tesla for £53k or a used 1 yr old one, how much less does the used one need to be to be competitive? My guess would be £45-47k. So a in a normal market a dealer should be happy to buy that off me for say, £42-44k. So that is what I think my MY is likely worth in a calm market. That is much more than WBAC will currently offer, but I bet their CFO is telling them to conserve cash while worrying about a recession (fewer sales) plus seeing increased costs for them to hold stock, so their system makes low ball bids.
I'm not sure where the statement 'demand has gone up' has come from? Maybe in China or America, I don't know tbh.

But here in the UK, I watch the 2023 shipping page and we're only on page 3 at the moment. Of course, thats not a demand guide, but its definitely an indicator. There doesn't seem to be very much activity in this UK forum section for new buyers which seems really odd.

This time last year, if you were a couple of days between log ins, you literally had pages and pages of new posts to read through, yet after a month this year basically, only 3 pages of content up to now.
 
I'm not sure where the statement 'demand has gone up' has come from? Maybe in China or America, I don't know tbh.

But here in the UK, I watch the 2023 shipping page and we're only on page 3 at the moment. Of course, thats not a demand guide, but its definitely an indicator. There doesn't seem to be very much activity in this UK forum section for new buyers which seems really odd.

This time last year, if you were a couple of days between log ins, you literally had pages and pages of new posts to read through, yet after a month this year basically, only 3 pages of content up to now.
Yes I suspect that too, at least in the UK. Went to Trafford Centre to return my car last Saturday expecting loads of people either picking up or test driving, but no, it was dead quiet. There's cars on inventory every day, and there are a few ship loads coming in the next few weeks.
 
Yes I suspect that too, at least in the UK. Went to Trafford Centre to return my car last Saturday expecting loads of people either picking up or test driving, but no, it was dead quiet. There's cars on inventory every day, and there are a few ship loads coming in the next few weeks.
As you say, huge amounts in inventory already and have been for weeks. Prices are REALLY going to have to come down to shift the inbound stock. Which will inevitably impact on residuals, and so the cycle turns once more.
 
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I pick up a new MYP on thursday. I investigated private sales and Motorway etc but went with the 34.6k Tesla offered - this was for a 2019 M3P which has done around 18.5k miles. It's immaculate, full PPF, hardly used OEM tyres (I've been running on Cross Climates) and perfect rims. So someone will get a cracking car. All that said, prices are tumbling and the prospect of maybe getting a few thousand extra privately versus all of the hassle, did not appeal. The funniest offer was Kazoo - 24k :) - they're still busy sending me emails telling me not to miss their "excellent" offer - muppets. Motorway we closest, but still a couple of grand adrift of Tesla. I didn't bother with the plonkers at WBAC having received silly offers and cr@p service with other cars previously.

I've still managed 67% ish residual value after 3.5 years of motoring, so not too bad. That, plus 4 years new warranty, lower prices and a very flexible vehicle in the Model Y, made the decison quite easy. Pretty poor not to have USS but I'm "assured" that TeslaVision will be more than adequate. We'll see! I'm not interested in FSD and all of the other bits that don't work, so as long as I get some parking functionality back, I'll be OK with it. Hopefully the car is in good order come Thursday's pick up.
 
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The price you got for a 2019 M3P is similar to what WBAC offer for a 9 month old YLR with less than 10k miles. Crazy times.
Sounds like a real low-ball offer. Knowing how prices have fluctuated recently, currenly significantly down, I was quite surprised that Tesla offered that. It was done in their showroom, so maybe they have a bit more flex than they admit to when trying to get a sale over the line? It made my sums add up so all good. Crazy times indeed, everywhere you look.
 
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