Why so many Tesla’s in the span of a few years?

[Horty4]

Hello, I’m new to the forum and have a reservation for a MYP with EDD of May-July. I have had a Rivian reservation for a few years so still waiting for that but this would be my first EV. I have been reading many posts about Tesla overall and also more specifically the MY. I do have a serious question.

Many on here love their teslas so much and how great they hold up over time, yet so many are on their 3rd Tesla or even more. How or why is this? If the vehicle is sound why keep buying and selling and buying and selling? I have only ever held vehicles for at least 5 years so this was odd to me.

 

[jcanoe]

It is a good question. One reason is that due to rising prices a 1 year old Tesla vehicle can sell for the same price as a new Tesla. Buyers are willing to pay top dollar to buy the used Tesla because they don't have to wait months for the new vehicle. The pace of change in automobiles, not just Tesla vehicles has greatly accelerated. It used to be you could buy a vehicle and drive it for 10 or even 12 years. When you purchased a new vehicle it would likely have some new features but nothing radical. Now 5 years is like 10 years in terms of enhancements. You could drive a Tesla for 10 years but would you want to? Probably not, the future model Tesla vehicle will be better in measurable ways for range, performance, safety and convenience. Components such as batteries, processors, cameras and sensors will continue to improve at an accelerated pace. Leasing the Tesla vehicle, although more expensive, is the better option if you want to drive the latest technology vehicle.

 

[jjrandorin]

Hello, I’m new to the forum and have a reservation for a MYP with EDD of May-July. I have had a Rivian reservation for a few years so still waiting for that but this would be my first EV. I have been reading many posts about Tesla overall and also more specifically the MY. I do have a serious question.

Many on here love their teslas so much and how great they hold up over time, yet so many are on their 3rd Tesla or even more. How or why is this? If the vehicle is sound why keep buying and selling and buying and selling? I have only ever held vehicles for at least 5 years so this was odd to me.

Vehicle purchases normally follow a progression (not with just tesla). People tend to start with the entry level one when they are younger / have less money, then graduate to the mid size sedan, etc.

Most ICE car manufacturers encourage this. I will use BMW as an example. People start off with a base 3 series, then trade up for the sporty one, then many times move to a 5 series, and depending on income / place in life, end up in a 7 series.

Substitute X1 / X3 / X5 / X7 for SUVs.

Same thing happening here, just in a shorter amount of time, because model 3s and Ys have held their value well (and in the current market, VERY well). People bought entry level model 3 SR+, then traded up for Long Range AWD, then when model Y came out, got the mid size SUV version (because it didnt exist when model 3 was launched.

People COULD because the value of the car held pretty (or VERY) well, depending on when they did it.

TL ; DR --- Occams razor applies here. People are trading up quickly because it hasnt cost them a lot of money to do so.

 

[Ogre]

Hello, I’m new to the forum and have a reservation for a MYP with EDD of May-July. I have had a Rivian reservation for a few years so still waiting for that but this would be my first EV. I have been reading many posts about Tesla overall and also more specifically the MY. I do have a serious question.

Many on here love their teslas so much and how great they hold up over time, yet so many are on their 3rd Tesla or even more. How or why is this? If the vehicle is sound why keep buying and selling and buying and selling? I have only ever held vehicles for at least 5 years so this was odd to me.

I only have 1, but am considering selling it for another Model Y.

I can sell it for more than I paid and apply that now larger down payment to get a new car.

The newer version should have: Faster console, better sound dampening, Bioweapon Defense Mode, and faster charging.

I haven't done this yet because the bit I care about most—faster charging—is still speculative and based on a car which is not on sale yet.

Also, lots of people here own Tesla stock which has done exceptionally well. Very tempting to spend $TSLA earnings on a Tesla.

 

[thesmokingman]

Many on here love their teslas so much and how great they hold up over time, yet so many are on their 3rd Tesla or even more. How or why is this? If the vehicle is sound why keep buying and selling and buying and selling? I have only ever held vehicles for at least 5 years so this was odd to me.

All the other reasons mentioned above aside, a lot of owners treat the cars not like cars but more like smartphones. Upgrading to the next generationis normal with a lot of tech equipment, phones, computers, and now Teslas, lol. Add to this the fact that Tesla is still very much evolving as a manufacturer and one who can make changes to production in hours. There's no other car maker out there that can implement advances in tech or improved processes in as short a time span. And thus we get to my point which is that the newer cars are improved from the old cars and not just in build quality. For instance, right now the big atm improvement is the MCU3 which is all new with a XBOX/PS5 level computer with a dedicated gpu for gaming. Then there's the biodefense filter, rear double pane glass, wipers, the switch to PS4 all season tires (more demand in winter areas), etc etc. I'm leaving other updates etc out but you get the point.

And add to that the strong resale values and crazy high demand whether new or used and it makes swapping to the newest version an attractive notion.

 

[Horty4]

All the other reasons mentioned above aside, a lot of owners treat the cars not like cars but more like smartphones. Upgrading to the next generationis normal with a lot of tech equipment, phones, computers, and now Teslas, lol. Add to this the fact that Tesla is still very much evolving as a manufacturer and one who can make changes to production in hours. There's no other car maker out there that can implement advances in tech or improved processes in as short a time span. And thus we get to my point which is that the newer cars are improved from the old cars and not just in build quality. For instance, right now the big atm improvement is the MCU3 which is all new with a XBOX/PS5 level computer with a dedicated gpu for gaming. Then there's the biodefense filter, rear double pane glass, wipers, the switch to PS4 all season tires (more demand in winter areas), etc etc. I'm leaving other updates etc out but you get the point.

And add to that the strong resale values and crazy high demand whether new or used and it makes swapping to the newest version an attractive notion.

I appreciate the responses from everyone and I do understand that todays vehicles are out of date within a few years and it’s easy to just go get another.

I know personally on the Rivian forum, most of the members are trying to be eco conscious. This turn around of vehicles being bought and sold so quickly worries me. Just like phones as one member mentioned, we can easily just get rid of one and buy another year after year. But with full sized vehicles, this could pose an issue of waste for the environment? I know that battery technology takes a heavy toll on the environment in the manufacturing but over the lifespan of the vehicle is overall a reduction compared to the ICE. I just hope we aren’t buying and selling every time something slightly newer comes out and never get to the environmental benefit that EVs are supposed to carry.

Anyone have a different perspective?
Sorry to ramble, I used to have a lifted F250 and rolled coal so don’t think of me as a hardcore environmentalist. That was the past though and trying to make sure we are all headed into the right direction.

 

[jjrandorin]

I appreciate the responses from everyone and I do understand that todays vehicles are out of date within a few years and it’s easy to just go get another.

I know personally on the Rivian forum, most of the members are trying to be eco conscious. This turn around of vehicles being bought and sold so quickly worries me. Just like phones as one member mentioned, we can easily just get rid of one and buy another year after year. But with full sized vehicles, this could pose an issue of waste for the environment? I know that battery technology takes a heavy toll on the environment in the manufacturing but over the lifespan of the vehicle is overall a reduction compared to the ICE. I just hope we aren’t buying and selling every time something slightly newer comes out and never get to the environmental benefit that EVs are supposed to carry.

Anyone have a different perspective?
Sorry to ramble, I used to have a lifted F250 and rolled coal so don’t think of me as a hardcore environmentalist. That was the past though and trying to make sure we are all headed into the right direction.

At the beginning, I imagine there were a lot of "Tesla Stans" for whom "The environment!" was a huge part of why they purchased the vehicle. Now, many people just buy them because they are really good cars in their class, and "the environment" is an afterthought.

Its not like all these traded in cars are being junked, they are being turned right around and sold (many times for more than new, in the case of model 3s and Ys). used ones are being sold for list or above, due to demand, so they are certainly not being scrapped.

If you are expecting people to hold onto them longer "just because", well tesla is not really niche player any longer, so "for the environment" is not really a rallying cry for most current tesla owners, at least not in my opinion.

One more thing (because this is the model Y subforum, and we are discussing model 3s and Ys with the above context)

=====================

You said "many on here love their teslas so much and how great they hold up over time, yet so many are on their 3rd tesla or even more. How or why is this?

====================

Model 3s came out in the end of 2017, and didnt start selling in any sort of numbers till 2018. They are a car model that is just over 4 years old. Model Ys started delivery in March of 2020. In the context of "how great they hold up over time" absolutely no model 3 or Y owner can have any context on that at all, because "over time" in vehicles is normally more than 2-4 years.

 

[Bp25]

I appreciate the responses from everyone and I do understand that todays vehicles are out of date within a few years and it’s easy to just go get another.

I know personally on the Rivian forum, most of the members are trying to be eco conscious. This turn around of vehicles being bought and sold so quickly worries me. Just like phones as one member mentioned, we can easily just get rid of one and buy another year after year. But with full sized vehicles, this could pose an issue of waste for the environment? I know that battery technology takes a heavy toll on the environment in the manufacturing but over the lifespan of the vehicle is overall a reduction compared to the ICE. I just hope we aren’t buying and selling every time something slightly newer comes out and never get to the environmental benefit that EVs are supposed to carry.

Anyone have a different perspective?
Sorry to ramble, I used to have a lifted F250 and rolled coal so don’t think of me as a hardcore environmentalist. That was the past though and trying to make sure we are all headed into the right direction.

Well, the used tesla is not going to landfill, it’s going to someone who would probably buy a new tesla, but buying used for immediate availability. I don’t see how this impacts environment negatively.

 

[glide]

Hello, I’m new to the forum and have a reservation for a MYP with EDD of May-July. I have had a Rivian reservation for a few years so still waiting for that but this would be my first EV. I have been reading many posts about Tesla overall and also more specifically the MY. I do have a serious question.

Many on here love their teslas so much and how great they hold up over time, yet so many are on their 3rd Tesla or even more. How or why is this? If the vehicle is sound why keep buying and selling and buying and selling? I have only ever held vehicles for at least 5 years so this was odd to me.

It’s because Tesla’s build quality is generally poor. But they do make iterative refinements to come in line with what would be expected from other manufacturers at the price point (I.e. sound insulation, dual pane glass, heated steering wheels etc).

Yes. That is correct. Tesla launched a near $70,000 vehicle in 2020 without a heated steering wheel.

None of these things can be easily retrofitted so it’s easier to just sell/trade in/buy a new one.

I would also say people flip their vehicles more frequently than every 5 years. More like every 3.

Also, with regards to longevity and how the entry level 3/Y hold up, no one knows. The Y has only been around for less than 2 years.

If I had a choice between a MY and a Rivian, I would take the Rivian hands down. They probably even have a customer service department at this stage in their growth cycle.

 

[MP3Mike]

This turn around of vehicles being bought and sold so quickly worries me. Just like phones as one member mentioned, we can easily just get rid of one and buy another year after year. But with full sized vehicles, this could pose an issue of waste for the environment?

No, it isn't a waste for the environment. It isn't like their old Tesla goes to the crusher when they buy a new one. It goes to another person, likely offsetting another ICE vehicle. So it is a net gain of another EV on the road, which is a good thing. In the past these trade-ups resulted in less expensive used EVs being available for people that can't afford to buy new. But with prices as they are, they are going for almost new prices, so they aren't going down-market just yet...

But it might result in newer, more efficient, used ICE vehicles being available for reasonable prices for people to move into from their old worn-out inefficient ICE. Again a plus for the environment.

tl;dr: Every new EV sold is a positive for the environment.

 

[ChadS]

As someone who made a post today about my 7th Tesla, a few things (most mentioned above) apply:

1. *I* haven't actually had 7. My wife and I have.
2. We didn't start just a couple of years ago - we started in 2009.
3. One had to be returned because it was a lease.
4. Another I didn't sell; I gave to my father. If I hadn't wanted to do that, I might not have switched cars.
5. One I sold after only 2k miles because Tesla introduced some new, significant features and I wanted a newer version. Ordinarily this is considered foolish because of how much money you lose selling a car, but I got back not only the price of the car, but the money I paid for taxes and registration. So...why NOT upgrade?

My cars:

• I had a Roadster for 7 years. I sold it because my Mom needed to be driven around, and she couldn't fit in it.
• Then I leased a Model S for two years. I turned it in because...well, the lease was up. And I really wanted a Model 3 (my wife had an S, no need for two) which had just become available...which is why I leased in the first place.
• Then I had a Model 3 LR RWD for 6 months (partly overlapping the lease). I sold it for everything I had in to it, and upgraded.
• Then I had a Model 3 Performance for 3.5 years. I gave it to my father a few days ago.
• I just got a Y a few days ago.

My wife's cars:

• My wife had an S for 5 years. Then her 6'4", 300lb 82-year-old father with a bad back needed to be driven around.
• My wife has had an X for over 4 years so far.

So while 7 Teslas is a lot, 4 of them we held for 3.5 to 7 years (plus one of those we still have, and another is still in the family). Of the remaining three, one was a lease return, one was a no-cost upgrade, and one doesn't count yet because we just got it - but I do hope to have it for a few years.

 

[Jersey_guy_202]

As someone who made a post today about my 7th Tesla, a few things (most mentioned above) apply:

1. *I* haven't actually had 7. My wife and I have.
2. We didn't start just a couple of years ago - we started in 2009.
3. One had to be returned because it was a lease.
4. Another I didn't sell; I gave to my father. If I hadn't wanted to do that, I might not have switched cars.
5. One I sold after only 2k miles because Tesla introduced some new, significant features and I wanted a newer version. Ordinarily this is considered foolish because of how much money you lose selling a car, but I got back not only the price of the car, but the money I paid for taxes and registration. So...why NOT upgrade?

My cars:

• I had a Roadster for 7 years. I sold it because my Mom needed to be driven around, and she couldn't fit in it.
• Then I leased a Model S for two years. I turned it in because...well, the lease was up.
• Then I had a Model 3 LR RWD for 6 months (partly overlapping the lease). I sold it for everything I had in to it, and upgraded.
• Then I had a Model 3 Performance for 3.5 years. I gave it to my father a few days ago.
• I just got a Y a few days ago.

My wife's cars:

• My wife had an S for 5 years. Then her 6'4", 300lb 82-year-old father with a bad back needed to be driven around.
• My wife has had an X for over 4 years so far.

So while 7 Teslas is a lot, 4 of them we held for 3.5 to 7 years. Of the remaining three, one was a lease return, one was a no-cost upgrade, and one doesn't count yet because we just got it - but I do hope to have it for a few years.

Amazing! So which one is your favorite?

 

[Corndart]

Every buyer is different so you're going to get a random grab bag of answers. May as well throw mine on the pile:

We're in a strange strong car resale bubble right now, that once deflated, will stop some of the upgrading / flipping.

The average Tesla buyer has more disposable income and may just change cars out more frequently, generally speaking.

 

[TomServo]

I can sell my 2020 LR AWD Y and buy a new Performance Y for $10K out of pocket and get all the latest features. Gonna do it once I can be sure I get an Austin Y with the 4680 batteries. M

 

[MP3Mike]

I can sell my 2020 LR AWD Y and buy a new Performance Y for $10K out of pocket and get all the latest features. Gonna do it once I can be sure I get an Austin Y with the 4680 batteries. M

What makes you think that GigaTexas is going to make a performance Model Y anytime soon? (My guess is that they will make the non-long range AWD variant for the next 6-12 months before starting to make the LR or Performance variant.)

 

[davidski]

I know personally on the Rivian forum, most of the members are trying to be eco conscious. This turn around of vehicles being bought and sold so quickly worries me.

While these 2-3 year-old Teslas certainly will go on to new owners, I think there is a legitimate concern about the total life of these cars. I do wonder with the rapidly evolving technology, if these cars might end up on the scrap pile more quickly. To Tesla's credit, I think they are making efforts towards recycling old cars. And the CEO of Lucid had a great idea of using old car batteries for household power supplies, ala Powerwall.

 

[xyeahtony]

Because used Tesla values right now sometimes exceed what people paid for their Teslas originally. So if people can make a profit selling their car and get a new car in the process, whats the harm. There are incremental upgrades every year so its not like they're buying the same exact car.

 

[jcanoe]

There are plenty of people who would like to buy their first EV, their first Tesla but the price is still too high. A previously owned Tesla vehicle is the perfect solution.

 

[Ogre]

I appreciate the responses from everyone and I do understand that todays vehicles are out of date within a few years and it’s easy to just go get another.

I know personally on the Rivian forum, most of the members are trying to be eco conscious. This turn around of vehicles being bought and sold so quickly worries me. Just like phones as one member mentioned, we can easily just get rid of one and buy another year after year. But with full sized vehicles, this could pose an issue of waste for the environment? I know that battery technology takes a heavy toll on the environment in the manufacturing but over the lifespan of the vehicle is overall a reduction compared to the ICE. I just hope we aren’t buying and selling every time something slightly newer comes out and never get to the environmental benefit that EVs are supposed to carry.

Anyone have a different perspective?
Sorry to ramble, I used to have a lifted F250 and rolled coal so don’t think of me as a hardcore environmentalist. That was the past though and trying to make sure we are all headed into the right direction.

The cars don't get tossed in the rubbish bin. Someone buys them and drives them for another decade or so.

Finding a buyer is 100% the reason it is even possible to get the next one for me.

 

[WADan]

I can sell my 2020 LR AWD Y and buy a new Performance Y for $10K out of pocket and get all the latest features. Gonna do it once I can be sure I get an Austin Y with the 4680 batteries. M

Same here, waiting to see what the new Y will be like.