Some customers and investors alike may start actively disliking the CEO, which will finally end in fewer retail investments and acquisitions. Plus, Elon Musk’s Twitter adventure is not helping Tesla out at all. This might change when we start looking at the Model S Plaid or the Model X with its falcon-wing doors. The much-touted Full Self-Driving Beta ( FSD Beta) is not ready and there isn't much attractiveness or excitement to be found for an EV built to do exactly what any other basic car has to. And it may continue in this direction as more and more people realize that a Model 3 or a Model Y are nothing more than commuting appliances. For Tesla models, however, it started in a big way. Some may have learned about it and decided to either buy one from Tesla or look for deals on used EVs online, while existing owners might still try to haggle with those who did not hear about the price cuts.Įither way, the used car market is slowly but surely cooling off. This whole thing shows us that Tesla took everyone by surprise when it decided to make its entire lineup considerably cheaper in 2023. Because there are a lot more EVs listed on the platform for - what can now be safely called - ridiculous prices. Who will buy these cars when you can shop for a brand-new one for a lot less? Well, that’s for the market to decide. A barely-driven 2022 Tesla Model Y is trying to find a new home for a price tag of $58,590, as you'll see in this article's photo gallery. But it gets even more confusing as another Tesla Model Y, this time a Standard Range with over 31,000 mi (49,890 km) on the odometer, is listed for $54,990! That's almost $10,000 more than a better, newer, never-driven Model Y.Īnd it doesn’t even stop here. So, why are used Model Ys still more expensive on platforms like Carvana? For example, we found a 30,000-mile (48,280-kilometer) 2021 Tesla Model Y Long Range for which the owner wants $54,990. Right now, the automaker says your next Model Y or Model 3 can reach you between what's left of January and March. According to Tesla’s estimates, deliveries can happen in a couple of days or a few weeks at the most. And we didn't even touch on what many states and relevant private entities offer as incentives or rebates.īut that's not all of it! Prospective buyers don’t even have to wait very long. Now that’s a very attractive price point for an all-electric crossover SUV that’s known for being efficient, comes with lots of interesting technologies, and guaranteed access to one of the best charging networks in America. This tells us that a Model Y Long Range with no other options added to it can cost $45,490. The dual-motor Model Y Long Range retails for $52,990, while its sportier relative – the Model Y Performance – goes for $56,990.įor now, most of Tesla’s vehicles qualify for the updated EV tax credit, which can give qualifying Americans the chance to obtain a federal fiscal advantage of $7,500 in 2024. So, they got cheaper too.Ĭurrently, a brand-new single-motor Tesla Model 3 Rear-Wheel Drive costs $43,990, while the Performance version has a starting price of $53,990. But the manufacturer’s most popular models are the Model 3 and the Model Y. In the U.S., the biggest discount of $21,000 was applied to the Model S Plaid. For instance, the wait for a Model 3 Standard Range used to be a year, but now it’s only a month or two.Last week, Tesla decided to give Americans, Canadians, and Europeans another reason to be interested in its cars. Delays for most new cars have dropped significantly. Chip shortages are being addressed by the respective manufacturers, increasing their output, thereby meeting demands. Lastly, supply chain issues are getting sorted one by one. If anything, people are only willing to spend if the prices are extremely attractive. People are hanging onto money and are postponing expenses that aren’t justifiable. As discussed, the Fed’s anti-inflationary policies have shot up borrowing rates, which not only affected new car sales but also used car purchases as well. Not to mention the fear of a recession looming around. In other words, everything is getting expensive. Remember the Feds raising interest rates? Well, that’s to curb market spending. Next, it’s the overall economic instability. But for the used market, this became yet another reason for a price correction. This practice is not uncommon, as OEMs often drop prices to boost their year-end sales numbers. Another factor that contributed to the drop in used Teslas is that the company cut prices by $7,500 on Model 3s and Ys sold in December 2022.
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