Tesla Used Car Price Crashes – Model Y, Model 3 Deals Explode
forbes.com
forbes.com
Is much of that driven by the price of new Model Ys declining? I bought one last year and (after accounting for rebates/incentives) it was less than half the price of a few years ago. That may suck for people who bought at the high price and want to resell, because of course they won't be able to sell a used Model Y for more than a new one, so that puts a hard upper limit on the value of used ones. But it's kind of awesome for the rest of us.
Wouldn’t this chart be more likely due to just Model Y being a relatively new car and more used coming into the market, off leases, etc.
It seems silly to compare overall prices without comparing similar models like what a 2018 with 40k miles cost last year vs a 2019 with 40k miles now.
Ys came out in 2020 and really got popular in 2021-2, so it makes sense that initially used car prices would be higher for 1 year old cars vs when those care are 2 and 3 and 4 years. And depreciation is high in early years so this seems kind of normal.
But if I were to consider a used Tesla, I wouldn't pay more than what a battery replacement cost. I could deal with the other problems like control arms and coolant leaks, but the replacement of the Battery/BMS is a risky proposition for me if it is no longer under warranty.
Do people often sell their current, functioning vehicle to buy a slightly facelifted vehicle of the same model? Sure people will buy a bigger, faster, or more fuel-efficient car. But I don't know people who will spend 20k or so to get pretty much the same car. And if your previous (less than 8 year old) Tesla had significant problems, I wouldn't be buying another one.
It’s folk selling off what they have because the value is in free fall so they need to get what they can before the value drops even further.
It seems like a used Tesla would be a better deal since most of the parts don't wear out and require maintenance like a petrol car. You can even check the status of the battery from service mode. Reddit seems to suggest high mileage Model 3's are pretty good in terms of reliability.
Obviously not fooling anyone but gave me a chuckle.
It’s not they there are no costs, it’s that costs are exponentially lower.
That said, it's not the powertrain that has the issues with the Teslas (battery/motors), it's build quality and steering/suspension that appears to have the biggest problems.
https://www.cargurus.com/research/price-trends/Hyundai-Ioniq... https://www.cargurus.com/research/price-trends/Tesla-Model-3...
This is a strange timeline.
Not exactly the same as Tesla, but I get what you’re saying.
That was a one-off really stupid comment, tho, so a little different.
I mean, realistically, this situation, where the CEO of a large public company has become a public official and is running around doing Nazi salutes and calling people the r-word on twitter is kinda unique; nothing like that has happened before. Even just a CEO of a large public company becoming a public official while keeping the CEO is pretty deviant; that's really not done.
"If you buy a Tesla today, I believe you are buying an appreciating asset, not a depreciating asset."
And the reason: "Musk's prediction is based on two assumptions: Tesla vehicles will be able to drive themselves without any human input by the end of 2019, and customers will be able to make money from their vehicles by including them in an autonomous ride-hailing service Musk says will be ready next year."
As Elon would say "Let that sink in".
This is one of the major reasons he's in the White House now. Otherwise he would be in prison.
Other than that, you suggest Musk would otherwise “be in prison.” Under which legal framework or statute should a CEO face criminal liability for a failed technological prediction or delayed product rollout?
https://www.youtube.com/watch?v=dEv99vxKjVI
I think he also repeated that on an investor call later.
As for prison, just ask Trevor Milton or Elizabeth Holmes.
What I'm describing is what happens after the pool of fools is exhausted.
https://youtu.be/k89aYdZOC_I?si=didH8UhYUIz7Y1zy (link to the video snippet on the Tucker Carlson YouTube channel).
Hell, Trump isn't in prison and he's had more failed businesses than Elon, and made just as many or more political enemies.
But maybe we should care more about that. Irrationally optimistic claims that people believe - cause how would they know you're full of shit before the second, third, fourth, fifth time around - still influence a ton of decisions, and it would be easy to not make them until the tech is actually there.
A world where lying has no consequences only increases the burden on everyone.
He said such things since 2016. This is almost 10 years, and they are nowhere near close to have a Full Self-Driving. In the meantime, they sold milions of cars who supposedly have all the hardware necessary for FSD. Except they already admitted twice that it's not the case and they will need to upgrade them once they solve FSD. But that's not an issue, since it will take another 10 years.
But yeah, this is not 'blantantly lying'.
PS. He's so optimistic about Tesla's future, that he sold $40B worth of shares at the peak in 2022, and so did most of the board.
Vaporware was a thing long before Tesla, it's not been a prison thing.
Is he deluded and/or full of shit about Tesla and self-driving? Definitely. Is he actually at risk of prison? No. None of his actions from 2016-2022 that you're talking about here were undertaken with an assumption of "boy, this is illegal, Trump better win in two years or I'm screwed!"
He just says that shit to rile up the base and get voters motivated. Stirring fear and anger at big-bad-government has been a reliable Republican staple for over forty years now. He's fully committed to the bit.
If I promise the public next year can buy a car that will fly you to mars, well, that's not prosecutable unless particular people enter into a business contract.
If I promise the public that if you pay me $50k now for a car and make statements that next year it will fly you to mars "once they get the bugs worked out". Well, that borders closer to fraud.
Time blows out and things don’t go the way you expect: it’s nearly unavoidable. Something like 30% of projects (anecdotal) are never finished and 85% (from a study) go over time and budget. The whole time, the end of the line seems like it’s just around the corner.
It’s super scary, yes, but that’s why deep tech investment is at an all time low in western countries. China’s dominant attitude - not being scared of it - is also why China is winning across the board in EVs and deep tech.
Perfection isn’t a human trait: actually, holding others to perfection but not yourself is a sign of diagnosable narcissism. Therefore when someone seems to be trying their best, I think it needs to be interpreted in good faith and not as a criminal offence if they don’t meet their mark.
The critiques of Tesla self-driving are not saying it isn't a hard problem, they are the:
* Elon acts like it's an easier problem than it is in terms of constraining how his company approaches it
* Elon ALSO acts like it's an easier problem than it is in terms of his claims about when it will be done, in a way that offers potential harm to purchasers and investors
It's hard to say he's "trying his best" to be honest about the timelines when they've slipped this many times.
If not: perhaps something like a Waymo fit-out is way outside a consumers normal capability to afford, or even clean and maintain?
I’m not convinced either way yet. But I think the need to fulfill the FSD promise to prior buyers is one reason why FSD would need to happen without LiDAR.
Elon Musk is the richest person on earth, because millions of people believed him.
Just as a lot of people believe we're going to Mars soon.
Sounds like used Tesla prices are returning to normal rather than crashing to some other unexpected level.
The number of people I’ve heard justify their purchase as an investment is bonkers. Just that alone I’d say calling it a crash is fair. Gonna be a LOT of people underwater.
https://www.businessinsider.com/musks-claim-teslas-appreciat...
https://www.businessinsider.com/elon-musk-claim-that-tesla-c...