Upset that Tesla screwed customers who took delivery in the last few months

[patmurphey]

...I bought in early 2022 and it suck’s. My car dropped from 56k offered with carvana in nov 2022 to 32k today. No other car has ever done this. I hope a class action starts because I’m signing up. Whether we can get compensated or not for them not having an MSRP or not is the question. If anything it will force change to prevent future customers from being screwed. I for one am done with Tesla forever after this. Screw me once and I’m out for good. I also have their solar panels and now I’d never recommend them as a company again. Skirting rules just to screw customers.

What did you pay in "early 2022"? Are the new prices that much lower than what you paid? Don't be upset about missing a bubble opportunity to sell your car if you didn't act, and don't quote a price quoted today from a company that is on their way to going out of business for overpaying in the used car market.

The important thing to consider today for anyone who has financed a car purchased much later in 2022 is to get bids from their lender or insurance company for GAP insurance if they see they are potentially underwater on their loan in case of an accident totaling the car.

If you liked the car and felt like you paid a fair price, there is no compensation owed by anyone - no one forced you to buy. In this case, it's likely that the used car value of the early 2022 car will be within a very normal range when 3 or so years old. Those who bought in later 2022 and didn't plan on flipping the car, the prices were going to be down in a few years no matter what. Musk has always made that clear, and he stressed that Tesla would take substantially lower margins in a recession to keep production and expansion on track for the long-term benefit of renewable energy. The abrupt and dramatic cuts are phenomenal for future customers and the pace of EV conversion.

I understand the need to blow off steam in the near term, but I repeat, relax, prices were going there anyway, abrupt or gradual.

 

[ZenRockGarden]

makws no sense to place a cutoff. Nobody buys a car and expects the msrp to ever drop. Period. In fact it’s the first time it has happened to this degree. You refer to you you you but because I got my car in November don’t think I just say. Oh well that’s fair.

Um, GM did it with the Bolt just last year. There are tons of other examples. Try reading more.

 

[PoiuYpist]

This is a

I understand the sentiment, but you did just fine. You bought the car at a price that was acceptable to you at the time of purchase.

This current pricing is very much temporary and is opportunistic: tesla has a very small window of time to be eligible for federal tax credits again (jan->march). But to do so they have to sell (most models) for less than $55k.

This is a BS response. Everyone who has purchased a Tesla in the last year lost $10,000 plus dollars of resale value overnight. And as an owner of 2 model Y’s I’m furious. This isn’t a temporary price reduction, this will be valid for the entire time the EV tax credit rebate is available to meet the credit requirements. If Tesla is still making a profit at this new price why were their cars so overpriced to begin with? I will never buy another Tesla, ever, and I was one of their “fan boys”. Talk about literally alienating your entire customer base, Elon needs to take a lesson on how to earn customers and create brand loyalty. I’m done

 

[Dennisis]

While the people who are shocked by the price drop and talk class action suit commiserate a record number of new owners will be taking delivery over the next 3 months and more so after that. No matter how you slice it some are going to be upset but soon a far greater number will be enjoying Tesla's they previously couldn't, or wouldn't, have purchased. Tesla made the call that best benefited the company as they saw it. There's no way to soften the blow for those who feel cheated and any consideration provided by Tesla (and there won't be) would never be enough - any arbitrary cutoff point would be dismissed as unfair. Unfortunately recent buyers made the best decision with the info available (in their minds, others saw this coming) and now they need to live with it. You only compound the pain by not making the best of the situation and enjoying the car you so obviously coveted until a couple of days ago, something you had no control over. Wait a few years and roll the dice on another car - no guarantees in this world.

 

[Geech72]

human beings are confused either way-people do not enjoy haggling at the dealership but now you do!

It doesn't come down to what I enjoy it's how the legacy market works. When ford or Nissan set an MSRP it's to some extent irrelevant because the dealers are empowered to sell the cars at other prices and competition and market factors come into play. When Tesla sets the price it's the price and they have to do a good job keeping it in line with the market. They don't.

 

[MP3Mike]

I don't expect a whole lot of ppl to see the tiny window they are dealing with, nor the mad pricing power they had to lop off 18% on average, and strategically price it so most of their lineup will net their customers another 7500k on top the deep price cut.

They could have not done this and just given a rebate...

A rebate wouldn't have made the cars eligible for the tax credit. It had to be an adjustment of the MSRP.

 

[buster84]

What did you pay in "early 2022"? Are the new prices that much lower than what you paid? Don't be upset about missing a bubble opportunity to sell your car if you didn't act, and don't quote a price quoted today from a company that is on their way to going out of business for overpaying in the used car market.

The important thing to consider today for anyone who has financed a car purchased much later in 2022 is to get bids from their lender or insurance company for GAP insurance if they see they are potentially underwater on their loan in case of an accident totaling the car.

If you liked the car and felt like you paid a fair price, there is no compensation owed by anyone - no one forced you to buy. In this case, it's likely that the used car value of the early 2022 car will be within a very normal range when 3 or so years old. Those who bought in later 2022 and didn't plan on flipping the car, the prices were going to be down in a few years no matter what. Musk has always made that clear, and he stressed that Tesla would take substantially lower margins in a recession to keep production and expansion on track for the long-term benefit of renewable energy. The abrupt and dramatic cuts are phenomenal for future customers and the pace of EV conversion.

I understand the need to blow off steam in the near term, but I repeat, relax, prices were going there anyway, abrupt or gradual.

People sure don’t understand the auto market. There is a Reason MSRP exists and why dealers do discounts on the price at the dealer in private. It’s to stabilize the value of the cars they sell. If every car manufacture started dropping msrp by 20% people would be afraid to buy new. MSRP doesn’t change but 1-3% up and Rarely down. The issue with Tesla is that they deliberately don’t have dealers and don’t have MSRP which is why when they dropped prices in the open they crashed 20k.

It’s not about the price we paid, it’s about the market and stability of the used Tesla market. If your car can loose 20k in a day what’s to stop Tesla from crashing the market again by reducing the cars another 10k. It’s how they treat their customer that the problem. Their price decrease ways are outside of the normal and may even borderline break USA laws since they don’t have an MSRP. If the car has an MSRP of say 50k and the website said that you were paying a 15k inflation markup then there is no reason to get mad. Lexus, Ford, dam near every dealer I saw did this last year. They covered their ass. Tesla on the other hand didn’t they deceived us. Had I known the msrp was so much cheaper I wouldn’t have bought when I did.

To make matters worse Elon sold billions in stock a month ish ago and knew he would be dropping prices. He will definitely be under investigation for insider trading because he obviously sold knowing that he’s killing the companies profit. He screwed his buyers and stock investors it’s only a matter of time before we see multiple lawsuits.

Also let’s never forget what Elon said and hold his words accountable.

Tesla vehicles are now 'appreciating assets' due to self-driving capability, says Elon Musk

Elon Musk has made quite an important claim about Tesla vehicles today; the CEO said that Tesla’s vehicles are now...

electrek.co

 

[tonyz1]

While the people who are shocked by the price drop and talk class action suit commiserate a record number of new owners will be taking delivery over the next 3 months and more so after that. No matter how you slice it some are going to be upset but soon a far greater number will be enjoying Tesla's they previously couldn't, or wouldn't, have purchased. Tesla made the call that best benefited the company as they saw it. There's no way to soften the blow for those who feel cheated and any consideration provided by Tesla (and there won't be) would never be enough - any arbitrary cutoff point would be dismissed as unfair. Unfortunately recent buyers made the best decision with the info available (in their minds, others saw this coming) and now they need to live with it. You only compound the pain by not making the best of the situation and enjoying the car you so obviously coveted until a couple of days ago, something you had no control over. Wait a few years and roll the dice on another car - no guarantees in this world.

This attitude is why companies can get away with treating their customers like crap. Ill acknowledge I might not even be as empathetic if I were a different buyer group but as someone who got pushed aggressively to take delivery even with defects (I at least got them to fix that) and needed a car, it does not feel good at all.

They might continue to do well and get lots of satisfied customers but as someone who got burned, never again. I hope the other people in a similar situation do the same and not reward bad behavior.

 

[rwiegand]

For the vast majority of people who bought cars in the last 6 months, no one is going to care what the MSRP was for these few months when they go to sell their cars. Sales price and value of used cars is primarily determined by auction and recent (ie in the last week) sales data. That reflects both the current selling price of used cars and includes the alternative of competitive new cars. When new cars were scarce a few months ago the values of all used cars skyrocketed. If, in 3-5 years when you want to sell a new MY the price is $35K your resale value is going to be a lot less than if they are selling for $85K, no matter what you paid for it. Absolutely no one is going to look back and say "well you have a December 2022 car and therefore I'm going to give you a different price than the guy with the identical January 2023 car", just as no car dealer has ever asked you how much you paid for your trade-in or whether you got a rebate on it in deciding what to offer you for it.
Used cars are priced based on their value to buyers at the moment. I will predict right now, that in the future Tesla prices will increase and they will decrease. When and by how much I have no idea, but it's certain they will change. With a favorable IRS ruling making more Teslas eligible I think you can be pretty sure that prices will go up again when the decision is announced. Likewise if they come up with new whiz-bang must-have technology the price will go up (and used versions will probably go down, because they don't have it). OTOH with no tax incentive and increasing technology prices will probably fall further. Tesla may have a big advantage as a low cost producer, giving them room to lower prices to hold market share.

 

[Yelobird]

This attitude is why companies can get away with treating their customers like crap. Ill acknowledge I might not even be as empathetic if I were a different buyer group but as someone who got pushed aggressively to take delivery even with defects (I at least got them to fix that) and needed a car, it does not feel good at all.

They might continue to do well and get lots of satisfied customers but as someone who got burned, never again. I hope the other people in a similar situation do the same and not reward bad behavior.

Sorry but for every 1 of you there are 100 that got a Massive unexpected discount waiting in line and placing a new order now. You can bark and threaten all you like as that’s your choice but trust that you are not the majority.

 

[ScoobyDoo82]

Dump it to Carvana and buy something else then.

You can’t… Carvana has temporarily paused on buying Tesla’s. If you try to input your Tesla for a quote you get this:

 

[ElectricIAC]

You can’t… Carvana has temporarily paused on buying Tesla’s. If you try to input your Tesla for a quote you get this:
View attachment 895832

They’re just admitting that a Tesla is priceless.

 

[buster84]

You can’t… Carvana has temporarily paused on buying Tesla’s. If you try to input your Tesla for a quote you get this:
View attachment 895832

Dam, I got a quote earlier. After their millions of loss in value over night there like. Hell no we’re not buying teslas anymore. Screw Elon. I bet their layers are preparing lawsuits over this too. This was my quote from earlier.

 

[tonyz1]

Sorry but for every 1 of you there are 100 that got a Massive unexpected discount waiting in line and placing a new order now. You can bark and threaten all you like as that’s your choice but trust that you are not the majority.

haha right, is that why there are so many available model y's in my area still? Don't confuse a failure to manage price, supply, demand, and customer service as a genius master plan to save the world. Get your head out of Elon's butt.

 

[MP3Mike]

haha right, is that why there are so many available model y's in my area still? Don't confuse a failure to manage price, supply, demand, and customer service as a genius master plan to save the world. Get your head out of Elon's butt.

How many of the Model Ys that are available in your area are eligible for the tax credit? (Either a 7-seater or has a MSRP under $55k.)

 

[tonyz1]

How many of the Model Ys that are available in your area are eligible for the tax credit? (Either a 7-seater or has a MSRP under $55k.)

None actually but there are 50 Model Ys available just sitting there. Look out for another price cut!

I actually wouldn't be too angry if they created a version of the model y just to meet the tax credit. However, they didn't do that and willfully screwed any customer that was willing to take delivery in December.

 

[M109Rider]

Always amazes me how some people think capitalism is just fine, until it works against them.

Well said. !

This is such a selfish, entitled thread.
The “Im only happy when things are in my favor” mentality is so toxic for society.

 

[Operator64]

Dam, I got a quote earlier. After their millions of loss in value over night there like. Hell no we’re not buying teslas anymore. Screw Elon. I bet their layers are preparing lawsuits over this too. This was my quote from earlier.

Now that’s some funny *sugar*, their LAWYERS are to busy prepping the bankruptcy paperwork to worry about a lawsuit.

 

[thesmokingman]

Now that’s some funny *sugar*, their LAWYERS are to busy prepping the bankruptcy paperwork to worry about a lawsuit.

And they are getting short squeezed to death atm.

 

[buster84]

Well said. !

This is such a selfish, entitled thread.
The “Im only happy when things are in my favor” mentality is so toxic for society.

Actually what’s selfish is people making comments about a thread where people have the right to complain as their brand screwed them. What’s funny is that those claiming to understand capitalism sure don’t understand capitalism. What happened at Tesla recently wasn’t capitalism it was socialism. The government substadizing credits with forced requirements is what caused this. If you delete the new tax rebates he wouldn’t have changed prices and screwed over every customer he has ever had prior to 2023.

This is why msrp exists. Discounts at the dealers don’t destabilize the used car markets but msrp changes will. That’s why prices rises because msrp went up. No dealer has decreased the msrp of their cars. Show us one that dropped the msrp recently, let alone one that dropped for more than 5k…. Ill be waiting. People have a right to complain when a cars value turned into the stock market. It’s never happened before. Ever.

We will Never forget his own words. Tesla vehicles are now 'appreciating assets' due to self-driving capability, says Elon Musk