EV Discussion thread

JKenH

Tesla reduces Model 3 and Model Y prices in the United States

After a $13k list price reduction and the $7.5k tax credit a Tesla MYLR now costs a qualifying US buyer $20.5k less than previously. How long before we see reduced prices over here?

I imagine a few December MYLR buyers are a bit miffed.

https://www.teslarati.com/tesla-model-3-model-y-price-cut-united-states-update/

1961Nick

JKenH said:

Tesla reduces Model 3 and Model Y prices in the United States

After a $13k list price reduction and the $7.5k tax credit a Tesla MYLR now costs a qualifying US buyer $20.5k less than previously. How long before we see reduced prices over here?

I imagine a few December MYLR buyers are a bit miffed.

https://www.teslarati.com/tesla-model-3-model-y-price-cut-united-states-update/

Prices have also been reduced across Europe including the UK. The LR is down to £51K.

JKenH

1961Nick said:

JKenH said:

Tesla reduces Model 3 and Model Y prices in the United States

After a $13k list price reduction and the $7.5k tax credit a Tesla MYLR now costs a qualifying US buyer $20.5k less than previously. How long before we see reduced prices over here?

I imagine a few December MYLR buyers are a bit miffed.

https://www.teslarati.com/tesla-model-3-model-y-price-cut-united-states-update/

Prices have also been reduced across Europe including the UK. The LR is down to £51K.

And base model 3 RWD now £42,990. 

https://www.tesla.com/model3/design

Model Y RWD now £44,990. That should help sales. I pity the competition though. 

https://www.tesla.com/modely/design

1961Nick

The entry level Model 3 is now cheaper than an ID4 with similar specification. In fact, it's probably now going to compete for sales with the ID3 as well. Not a good day for VAG.

JKenH

1961Nick said:

The entry level Model 3 is now cheaper than an ID4 with similar specification. In fact, it's probably now going to compete for sales with the ID3 as well. Not a good day for VAG.

Yes, it really is bad news for VAG. Not everyone wants a Tesla but at these prices and the Supercharger network you would be daft not to consider one. There are niggles with Tesla like the parking sensors and apparently not very clever auto wipers but VAG isn’t without its problems either. I can’t see the German government taking this lying down as it will impact BMW and Mercedes as well.

I do genuinely feel sorry for someone who bought a Tesla at the end of 2022. You don’t expect car prices to suddenly fall and certainly not by this amount. TVs, yes, as new models come out but not cars. Maybe Tesla is a Tech company after all. 

Edit:

Perhaps people will hold off buying alternative brand EVs as well anticipating a price cut in response.

It’s going to impact used EV prices as well. We should soon see £25k TM3s on AutoTrader. Last night I looked and there was one at £26k.

JKenH

Interesting snippet in Car magazine about Tesla.

It was the largest EV brand in the UK in 2022 and sold more electric cars than Peugeot, Land Rover, Volvo or Skoda did of all their products, electric or oil-powered.

http://www.carmagazine.co.uk/car-news/industry-news/tesla/tesla-price-cuts/

JKenH

Tesla slashes price of Model 3 and Y in move that will damage used prices further

The price drop is likely to seriously affect used Tesla prices which are already in free fall.

https://cardealermagazine.co.uk/publish/tesla-slashes-price-of-model-3-and-y-in-move-that-will-damage-used-prices-further/277651

1961Nick

JKenH said:

Tesla slashes price of Model 3 and Y in move that will damage used prices further

The price drop is likely to seriously affect used Tesla prices which are already in free fall.

https://cardealermagazine.co.uk/publish/tesla-slashes-price-of-model-3-and-y-in-move-that-will-damage-used-prices-further/277651

The used car market anticipated a RRP reduction when Tesla reduced prices in China so some of the drop is already factored in. I still think the size of the reduction will surprise many though... particularly other car manufacturing CEOs.

Martyn1981

Should be fun this year then. I think they've taken away most of the price increase from last year (March(ish)?), when prices were about £42k for the SR.

I'm probably getting too excited, but this could be the start of real price competition, as BEV sales increase around the World.

The 'PR' (I think) Lady in China said that prices were down as they are an estimate/gamble on future costs which have been falling again (after the steep spike last year). But I suspect that's only part of the real story. Plus Elon said some months back that Tesla was well placed to cope with a recession, and that they would focus on expansion and market size, even if margins had to be reduced or go to zero.

Totally agree about VWG, they struggled last year, but still increased BEV sales, and did well in the US. But I don't think they have the margins yet to compete with Tesla, BYD and SAIC (plus others from Asia).

Fascinating times ahead, I just hope that the BEV share of new sales in Europe can get to 30-40% by mid decade, opening the door for ~100% by 2030 ..... ish! 

1961Nick

Martyn1981 said:

Should be fun this year then. I think they've taken away most of the price increase from last year (March(ish)?), when prices were about £42k for the SR.

I've just had a look at the price of mine & it's still £1600 more than I paid for it 19 months ago (although the price did rise shortly before it was delivered).