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

[ricohman]

Anyone here in Ontario Canada who took Model Y LR delivery in late Dec 2022 - with $5000 reduction and 10000 Supercharger Kms? How do you feel about this latest price reduction? Has anyone reached out to Tesla to do something about it - if so what has the response been like? Further to that, has anyone submitted or considered submitting OMVIC and/or Consumer Protection Ontario complaints to push pressure on Tesla to do something about it? If enough of us do it, maybe Tesla will actually think hard about doing something about it.

My story/rationale here is as follows:
I took delivery of mine in that late Dec 2022 period, and I feel quite bad as it’s still ~$10,000 CAD difference (without taxes and cost of financing layered on) between prices then and now (originally would be ~$15,000). I see people on this thread giving examples to justify Tesla’s capitalist move… yes, prices of a product can go down after purchase, but even in those cases most manufacturers/retailers offer price adjustment and/or option to return and get refund within 30 days of purchase… whereas in the case of cars getting a cash refund/adjustment is simply unlikely once you take delivery… I get that… however it’s the unethical behavior from Tesla as a company, and Tesla sales advisors that I am most pissed about. Well… they were actually cold calling customers like me (likely due to a previous test drive) in late Dec year to say this is one a kind discount and it will expire at the end of the year with prices going back, so best to take advantage of it… thus creating an artificial demand and false illusion. I am sure they knew the numbers were not tracking well for Dec delivery targets and thus prices may have to be slashed further, but they marketed it as the opposite. Moreover, now this reduction has happened, Tesla has not even thought about folks who have taken delivery within the last 2 weeks or even 30 days (I know some people here took delivery up to 6 months before these discounts and they also feel bad, but to me, that is an eternity; barely any retailer offers refunds/price adjustments for that long of period, so I would not hold that against Tesla, if I was in that position personally - I will still be somewhat upset, which is understandable… as differences are still pretty large). When I asked my Tesla advisors what they can do to make things right, their response is a blunt no/nothing. I mean, from my perspective, they could try to make up for it, by giving free or subsidized software upgrades like FSD to offset the financial loss… still not same as cash back if you didn’t need those overpriced software upgrades in the first place, but realistically speaking I doubt Tesla will refund the money back, so that might be our best bet, and I will gladly take it. I mean I don’t have issues with my car (yet) - so far so good. I got it because I like/wanted it. The financial loss and unethical behavior from Tesla is very disheartening and worrisome however - so if Tesla offered upgrades like above, it will tell me that they go value their customers and will earn back my goodwill. Else, regardless of how the car drives, Tesla surely lost 1 future customer… and I am sure I am not the only one in that boat!

Well, in Canada you don't actually own your car (or anything else for that matter). We have zero property rights. We possess things only by approval of our gov't for as long as they see fit.
So in effect, the gov't took a loss!

 

[johnnycnote]

We need to unite as buyers and put some pressure. Musk really took advantage and price gouged

I was going to debate your point but... It's fine...

 

[johnnycnote]

It’s probably insane because you fabricated the argument and now you’re flogging it like the straw man it is.

Nobody “stands on principle against returns and exchanges”. I stand on principle against insisting a retailer who has no such policy should be compelled to invent one retroactively for people who KNEW no such policy was in place when they voluntarily made a purchase.

Dude! You're on fire!

 

[patmurphey]

In most cases someone that purchased a Model Y at the high price didn't really lose anything other than normal depreciation (in this collapsing used car market) in trade value to replace their car with a future Model Y. Think about it...

 

[scratch]

A fact getting lost in this discussion: no one lost any money. People who bought before the price adjustment missed out on a deal and that's different.

While it sucks to miss out on a deal, obsessing about the cost difference presumes you know the future.

A car is an asset. You can't take a loss on an asset until you sell it.

The US is currently experiencing 8% annual inflation. A major recession is likely for 2023. This means prices will go down in the short term, then climb once cash begins circulating again.

The real question is how much inflation will outpace depreciation. My guess is by quite a bit. In this scenario, it's entirely possible the price for a used Tesla will approach 2022 new car prices within a few years.

But reacting to this as a catastrophe is premature. Conditions are set to make up some or all of that money by just enjoying the car. Put a ceramic coat on it if you want to maximize future resale value.

 

[ElectricIAC]

A fact getting lost in this discussion: no one lost any money. People who bought before the price adjustment missed out on a deal and that's different.

While it sucks to miss out on a deal, obsessing about the cost difference presumes you know the future.

A car is an asset. You can't take a loss on an asset until you sell it.

The US is currently experiencing 8% annual inflation. A major recession is likely for 2023. This means prices will go down in the short term, then climb once cash begins circulating again.

The real question is how much inflation will outpace depreciation. My guess is by quite a bit. In this scenario, it's entirely possible the price for a used Tesla will approach 2022 new car prices within a few years.

But reacting to this as a catastrophe is premature. Conditions are set to make up some or all of that money by just enjoying the car. Put a ceramic coat on it if you want to maximize future resale value.

If you remove basic necessities like homes (rent or mortgage doesn’t matter), food, drink, and energy from the equation; 8% might still be as optimistic a statement as “This ship can’t sink!”

 

[FastEddieB]

I see what you did there.

Wait. That was sarcasm?

Or was I on the wrong side of sarchasm: “The intellectual gap between the person who makes a sarcastic joke and those who don't get.”

 

[scratch]

If you remove basic necessities like homes (rent or mortgage doesn’t matter), food, drink, and energy from the equation; 8% might still be as optimistic a statement as “This ship can’t sink!”

Inflation between 2016 and now averaged 2.78%. Something that costs $55k today would have cost $46k then.

8% covers the difference on Tesla in roughly 3 years. That's not a long timeframe for owning car.

 

[woolymammoth17]

Inflation between 2016 and now averaged 2.78%. Something that costs $55k today would have cost $46k then.

8% covers the difference on Tesla in roughly 3 years. That's not a long timeframe for owning car.

If you believe the government reports of inflation, have I got some oceanfront property in Kansas to sell you.

Inflation is more like 5-6% in normal years, and more like 15-20% last 2 years.

 

[Kokukenji]

In most cases someone that purchased a Model Y at the high price didn't really lose anything other than normal depreciation (in this collapsing used car market) in trade value to replace their car with a future Model Y. Think about it...

I don't know if I would blanket it that way. Those folks lost $. I'm on the boat for already came to terms, lol. Not even factoring depreciation because you are right, that's a factor if you are to trade in or sell your car.

Just in cash (if you pay all cash) or the amount of money borrowed via loan. Even the % amount to put as a down payment is all less if I was to buy the same car that I got in Nov, today. Just the fact that I would have to spend less money is considered a lost, I would think.

 

[ScoobyDoo82]

A fact getting lost in this discussion: no one lost any money. People who bought before the price adjustment missed out on a deal and that's different.

While it sucks to miss out on a deal, obsessing about the cost difference presumes you know the future.

A car is an asset. You can't take a loss on an asset until you sell it.

The US is currently experiencing 8% annual inflation. A major recession is likely for 2023. This means prices will go down in the short term, then climb once cash begins circulating again.

The real question is how much inflation will outpace depreciation. My guess is by quite a bit. In this scenario, it's entirely possible the price for a used Tesla will approach 2022 new car prices within a few years.

But reacting to this as a catastrophe is premature. Conditions are set to make up some or all of that money by just enjoying the car. Put a ceramic coat on it if you want to maximize future resale value.

Lol.. this discussion got lost 15 pages ago

 

[BOOMER7]

Will be great to revisit this thread in 2024 and see how it all shakes out
The great thing is besides fb today the forum reading has given some great entertainment.
ESP from @ucmndd you still lost me at #1 …. and you should look into bottling up on the website the flatulence juice & tequila Classic stuff very funny!
and @buster84
Thx fellas good times & entertaining

Nice call so far Tesla is up almost $9 share
Also, thanks for keeping it light hearted in your replies your replies . Props for restraint

My boy Jackpot Joey, throwing some dimes early

 

[Jedisparky]

I'm like 10 grand upside-down in a snap of a finger. Sucks, but is what it is. Elon should at least send us a hat or a T-shirt.........or sticker.........or something. Lol

 

[tonyz1]

I don't expect any kind of reimbursement or compensation for being on the losing end of this price decrease, but a complimentary FSD upgrade sure would make me feel better about it, and make me more likely to keep buying Tesla vehicles in the future!

Their fundamental assumption is we're all focused on money at the end of the day. In 3 to 5 years, if they are still the market leader by volume (who knows?) with the best product (will be debatable) at the cheapest possible price (maybe), you will forgive them for burning you for $10k and come back even if they give you nothing now.

Will be an interesting question to ask the November and December cohort in the future.

 

[arbitrage000]

Best thing about this price reduction....the forum got interesting again!! It was getting pretty boring Nov-Dec as all the long delivery delays had vanished overnight so we couldn't sit around talking about checking the EDD every 15mins anymore. All of us that had been hanging out on here for 2022 waiting for our 7-12month waits got our cars. Now things are getting spicy on here again.

The only thing really unexpected about this drop was the size of it in a single go. But the skyrocketing inventory levels across the US and Canada from November onward gave clear indication that the price had to change or production lines needed to be shut down. Pretty obvious which one of those was going to happen.

I got to watch the price get raised by $10K CAD over my 8 month wait. I then got to see it drop by $17K overnight. You win some, you lose some.
The first price increase in March is what drove me to order. Got in ahead of the 2nd March increase and then the May (Canada only) and June price increases.
If I'd ordered a day earlier and kept my MSM color the new price would be less than $5K different from what I paid on Oct 28th. You just never know with these things.

The only people I really feel for are those that took delivery in January. Letting people take delivery after getting rid of the December discounts while knowing you were about to cut prices drastically and let the car qualify for another $7500 off was a sleazy move. They should have done the price cut on Jan 1st or left the $7500 discount for those first 2 weeks.

 

[WyoDude]

Best thing about this price reduction....the forum got interesting again!! It was getting pretty boring Nov-Dec as all the long delivery delays had vanished overnight so we couldn't sit around talking about checking the EDD every 15mins anymore. All of us that had been hanging out on here for 2022 waiting for our 7-12month waits got our cars. Now things are getting spicy on here again.

The only thing really unexpected about this drop was the size of it in a single go. But the skyrocketing inventory levels across the US and Canada from November onward gave clear indication that the price had to change or production lines needed to be shut down. Pretty obvious which one of those was going to happen.

I got to watch the price get raised by $10K CAD over my 8 month wait. I then got to see it drop by $17K overnight. You win some, you lose some.
The first price increase in March is what drove me to order. Got in ahead of the 2nd March increase and then the May (Canada only) and June price increases.
If I'd ordered a day earlier and kept my MSM color the new price would be less than $5K different from what I paid on Oct 28th. You just never know with these things.

The only people I really feel for are those that took delivery in January. Letting people take delivery after getting rid of the December discounts while knowing you were about to cut prices drastically and let the car qualify for another $7500 off was a sleazy move. They should have done the price cut on Jan 1st or left the $7500 discount for those first 2 weeks.

I wonder if people who bought in those 11 days can apply for the credit and get it. I wonder how closely the IRS tracks that.

 

[ElectricIAC]

I wonder if people who bought in those 11 days can apply for the credit and get it. I wonder how closely the IRS tracks that.

Much more closely with ~174,000 new hands coming aboard.

 

[MP3Mike]

I wonder if people who bought in those 11 days can apply for the credit and get it. I wonder how closely the IRS tracks that.

The IRS is requiring the manufacturer to submit data files that include every VIN sold and what the MSRP was. So they will probably track it closely.

 

[WyoDude]

The IRS is requiring the manufacturer to submit data files that include every VIN sold and what the MSRP was. So they will probably track it closely.

Ah ok, that makes sense. They can just run a script to match and produce a diff then

 

[ThomasD]

Unless people put half or more for a down payment on a vehicle you are underwater as soon as you drive it off the lot.