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What happened to the cpo inventory?
- Thread starter Nototrader
- Start date
I still want to know why when you select Any Location only 10 cars appear...
I'm not seeing this problem. Selecting San Francisco for example displays 50 cars for me.
HankLloydRight
No Roads
antialias
Member
It's not just conspiracy theory, there is something going on beyond just price fluctuations. If you go to http://www.ev-cpo.com/ and filter out just by CPO, you will see that the last posted CPO was 12/18/2015, none less than $60k, and only ten less than $70k. I am not staking a claim as to what Tesla is up to, but they are doing something. They haven't posted an additional CPO since the list was purged.
At the last earnings call there was some mention of a new CFO and something about "cash is king." Seems they have revised the CPO program for the time being to only to sell cars that cost almost the same as a new car. Perhaps the thinking was they can bring in more revenue by only selling more expensive cars?
Not sure how this is going to work for them as I bet most who look to buy a CPO car are looking for a nice deal and many likely will not buy and just wait for pricing to return to where they were with cars available to buy in the $50Ks and $60Ks and some even in the $40Ks. There are still a few nice deals to be had but nothing like what we had before.
This is not an especially good time to buy a CPO car from what I can see.
whitex
Well-Known Member
Very good observation, I just checked it myself. It is very unlikely that Tesla didn't trade-in ANY CPO qualified cars in 2.5 months, so where did all those trade-ins go? Are they all sitting somewhere to be CPO'ed? Or have they all been sold-through ("cash is king?") to wholesalers?
Zaphod
Galaxy President (former)
There were plenty of cars posted after that date. They were just removed when the big purge happened. So it is giving the false indication that none had been added since mid-December. That was not the case.
Bangor Bob
Member
Are new trade-ins going to wholesale auction? I haven't been paying attention to numbers available on other sites during the lull, but for instance I'm showing 299 Model S's on Autotrader at the moment.
Perhaps they're starting to apply higher standards to what qualifies to be a CPO.
Perhaps they're starting to apply higher standards to what qualifies to be a CPO.
antialias
Member
Information I received from the local showroom is that they are still in the system, just not listed on the website. I hope I don't end up bothering them too much...
Maybe someone has posted this already, if yes, sorry for the duplication:
1. In reaching the 17k+ goal in Q4, Tesla sold out the majority of the loaner/test drive Model S and emptied their pipeline. They've done this repeatedly.
2. They replaced the sold cars with new Model S's and kept listing new trade-ins on the CPO site.
3. With the slower Model X rollout, they are facing another crunch in Q1 to make sales #s.
4. Someone realized that they could kill 2 birds with one stone. They could use CPOs as loaners/test drive cars and free up 300+ New production Model S's that would be counted as a "new" car sales in Q1 while at the same time not selling out all loaners/test drive cars out from under their SC's every quarter.
I wouldn't be surprised to see the new process be: Trade In - Loaner/test drive - CPO going forward. When the new Trade ins = 300, it also wouldn't surpeise me to see some of the "missing" CPOs reappear with a few more miles on them. If rumors of a P100D are accurate I don't think there will be a shortage of new CPOs...more of a flood. That may be helpful for those in the CPO market as it could put pressure on prices.
1. In reaching the 17k+ goal in Q4, Tesla sold out the majority of the loaner/test drive Model S and emptied their pipeline. They've done this repeatedly.
2. They replaced the sold cars with new Model S's and kept listing new trade-ins on the CPO site.
3. With the slower Model X rollout, they are facing another crunch in Q1 to make sales #s.
4. Someone realized that they could kill 2 birds with one stone. They could use CPOs as loaners/test drive cars and free up 300+ New production Model S's that would be counted as a "new" car sales in Q1 while at the same time not selling out all loaners/test drive cars out from under their SC's every quarter.
I wouldn't be surprised to see the new process be: Trade In - Loaner/test drive - CPO going forward. When the new Trade ins = 300, it also wouldn't surpeise me to see some of the "missing" CPOs reappear with a few more miles on them. If rumors of a P100D are accurate I don't think there will be a shortage of new CPOs...more of a flood. That may be helpful for those in the CPO market as it could put pressure on prices.
Wshowell
Member
One other possibility but I don't think anyone has brought up yet...Tesla is gearing up to populate "used car lots". I was able to arrange a one-off tour of the "post trade in pre-CPO" cars in Fremont a few months back. I wanted to see what they looked like when they came in NOT what they looked like after they were refurbished. I was told that Tesla is/was building a CPO lot where people could come and test drive the cars and buy on the spot. There would be an east coast and west coast CPO lot. Could it be the cars they pulled are all getting scrubbed up and ready to populate these CPO lots? The woman responsible for these CPO lots is the one that provided me with the tour and she did say Dublin was the location for the West coast. I wasn't asked to sign a non disclosure but I also don't want to burn any bridges so,I won't name names...
Tesla to open first Tri-Valley store in Dublin - ContraCostaTimes.com
based on what I am suggesting here, it would make sense that they would pull a few hundred cars from inventory and start the refurbishment process. Once the cars are refurbished they could warehouse them in the factory and then Populate the used car lots in one fell swoop to much fanfare. Prospective buyers could drive or fly in, inspect, test drive, finance/purchase and supercharge their way back home. None of this $1000 down, weeks to refurbish, shipping costs, second round of refurbishment and then final delivery. Anywa, something to think about. I know I'd prefer to buy a CPO under this situation versus the current clunky program.
Tesla to open first Tri-Valley store in Dublin - ContraCostaTimes.com
based on what I am suggesting here, it would make sense that they would pull a few hundred cars from inventory and start the refurbishment process. Once the cars are refurbished they could warehouse them in the factory and then Populate the used car lots in one fell swoop to much fanfare. Prospective buyers could drive or fly in, inspect, test drive, finance/purchase and supercharge their way back home. None of this $1000 down, weeks to refurbish, shipping costs, second round of refurbishment and then final delivery. Anywa, something to think about. I know I'd prefer to buy a CPO under this situation versus the current clunky program.
JPP
Active Member
I live near Dublin. An old Chrysler dealership. Lots of pavement to park lots of vehicles (at least 50 or more slots) plus a nice large sales office, a service center, Superchargers and about 4 or 5 HPWCs (some crippled to 40A), all conveniently located at the intersection of Interstate 580 and 680 (...close to most anywhere in the SF Bay Area). I have in fact been surprised that CPOs have not shown up there yet.
Wshowell
Member
The more I consider this, the more it makes sense. Here's why. My buddy bought a CPO last year, 5 weeks after ordering it from SF he was told it was still two week away from being ready to be shipped. He was PO'd as anyone would be. He complained and they waived the delivery fee to Denver ($1200 or $1500 I forget). When it arrived he found numerous areas that were not to the CPO standards and refused delivery. Now even more PO'd. They provided him with a P85 loaner for two weeks while they worked through the issues. On 2nd inspection he found some additional items and again refused delivery I think just to push the limits. New rims, tires, windshield, seat, paint protection later he took delivery almost two months after his deposit was made. That's not a good situation for anyone involved. The "CPO showroom/lot" makes much more sense to me. Find one you like, drive, inspect and agree to purchase and it gets hand washed while you sign the paperwork and its yours 90 minutes later and you drive off into the sunset.
mmd
Active Member
LOL, that's awefully close to the Alameda county auction site where I bought my first car for under $3K! They sell 300 cars each weekend there.
Directions to Alameda County Auction
Skotty
2014 S P85 | 2023 F-150L
Updated Statistics:
2/11/2016
Count distinct occurrences of values. -- trim
S85 occurs 143 times
P85+ occurs 114 times
P85 occurs 88 times
P85D occurs 36 times
S60 occurs 34 times
P90D occurs 2 times
90D occurs 2 times
85D occurs 1 times
Average Value -- price
72,860.31
Minimum and Maximum -- price
Minimum: $49,500.00
Maximum: $127,450.00
2/28/2016
Count distinct occurrences of values. -- trim
90D occurs 157 times
P90D occurs 72 times
70D occurs 35 times
P85D occurs 28 times
P85+ occurs 28 times
P85 occurs 21 times
S85 occurs 16 times
S70 occurs 8 times
85D occurs 5 times
90 occurs 3 times
S60 occurs 3 times
Average Value -- price
103,740.82
Minimum and Maximum -- price
Minimum: $60,600.00
Maximum: $142,700.00
3/6/2016
Count distinct occurrences -- trim
90D occurs 136 times
P90D occurs 66 times
P85+ occurs 27 times
P85D occurs 26 times
70D occurs 22 times
P85 occurs 16 times
S85 occurs 11 times
S70 occurs 5 times
85D occurs 4 times
90 occurs 3 times
S60 occurs 1 times
Average -- price
105,603.155
Minimum and Maximum -- price
Minimum: $60,600.00
Maximum: $142,700.00
2/11/2016
Count distinct occurrences of values. -- trim
S85 occurs 143 times
P85+ occurs 114 times
P85 occurs 88 times
P85D occurs 36 times
S60 occurs 34 times
P90D occurs 2 times
90D occurs 2 times
85D occurs 1 times
Average Value -- price
72,860.31
Minimum and Maximum -- price
Minimum: $49,500.00
Maximum: $127,450.00
2/28/2016
Count distinct occurrences of values. -- trim
90D occurs 157 times
P90D occurs 72 times
70D occurs 35 times
P85D occurs 28 times
P85+ occurs 28 times
P85 occurs 21 times
S85 occurs 16 times
S70 occurs 8 times
85D occurs 5 times
90 occurs 3 times
S60 occurs 3 times
Average Value -- price
103,740.82
Minimum and Maximum -- price
Minimum: $60,600.00
Maximum: $142,700.00
3/6/2016
Count distinct occurrences -- trim
90D occurs 136 times
P90D occurs 66 times
P85+ occurs 27 times
P85D occurs 26 times
70D occurs 22 times
P85 occurs 16 times
S85 occurs 11 times
S70 occurs 5 times
85D occurs 4 times
90 occurs 3 times
S60 occurs 1 times
Average -- price
105,603.155
Minimum and Maximum -- price
Minimum: $60,600.00
Maximum: $142,700.00
Last edited:
As it should be.
I think their initial strategy of certifying on the fly what are essentially loaner cars was a logistical mess and highly inefficient. Really makes sense to verify and then offer the car for sale so the transaction is done in an orderly manner.
Quite the price increase there.. the cheapest car in Florida on their website is 102k~.. forced me to get a new S70, when I may have purchased a used p85 in the same price range
SPXMike
Member
They already have a CPO car lot at the Buena Park (Orange County, CA) service center. I was there in December for a 12v problem. They said this was the first SC to do this; an "experiment". They had as least 40 cars. "pre-CPO" cars were parked along the back fence. Many RWD coming in from the Midwest; people out there wanted Ds for the snow. CPOs for sale were out front, with stickers in the window just like any other car dealer. In December I was able to get a real nice loaner, an inventory P90D with ~3k miles. MC red, real sweet. I was there again in January and was not able to get a loaner at the time. They went from 8 loaners to 4; presumably in the push to move inventory. I asked them "why not loan me one of these CPOs, you have a lot full!" I was told CPOs don't go out as loaners.
Piney999
Member
A some point the prices on CPOs are going to have to come back to normal. I can't help but think this is all related to the model 3 release. They don't want anything on their website close to the model 3 price when it's unveiled.
