In case any of you were waiting for Black Friday type deals between now and the end of the year
FML I just took delivery 4 days before this was announced
Model Y inventory in germany is discounted by up to 7000€ for the LR version.
still way overpriced. Should be sub $30k IMHO.
i am not surprised. everyone talks about competition from other EV; but the real competition are the hybrids from Toyota and Honda, especially in parts of the USA where gasoline is not expensive. Even with tax credits: it is not easy to fend off the hybrids. and without tax credit: it will be a lot more challenging.
I don’t know what’s going on with Tesla but based on my vision, they aren’t selling. I live in TN and the local Tesla center is storing new cars at the local shopping center. I estimate there has to be at least 60 cars just sitting there ready to be cleaned up and sold. They just don’t seem to be selling very well.
That was a good move on Tesla’s part. Their business strategy is far and away better than GM’s and the tide of Red Ink under Mary B.S. Barra… Source:
GM - Under Mary B.S. Barra: A Sea of Red…
September 2023 Year over Year Revenue $44.14B Up 5.35% Net Income $3.06B Down 7.29% Diluted EPS 2.2 Down 2.22% Net Profit Margin 6.94% Down 12.04% Operating Income $3.13B Down 17.84% Net Change in Cash $2.22B Down 41.2% Cost of Revenue $38.74B UP 7.59% Why are these numbers in Russian? Tell me a joke!
You clearly don’t understand what “Red Ink” means, eh?
Agreed, this is a good move on Tesla’s part.
Apparently, you just respond with anything that you think refutes a comment someone makes… And you do so without actually knowing what it is your saying.
** Do you realize that you don’t actually know what it is you’re talking about? **
Here is the definition of ‘Red Ink’ from Merriam-Webster:
red ink
noun
1
: a business loss : DEFICIT
2
: the condition of showing a business loss
CyberSUV
This is why I leased. Tesla can tank their used market as much as they want, my “resale value” is enshrined in a contract.
Leasing was a bad deal when I bought, but now it’s more reasonable. Probably still a few bucks more than buying though, at least based on my current mileage and valuation.
But thats what makes leasing rates go higher for people who want to get a lease now.
I’m sure demand is fine. Nothing to see here.
Can’t give them away…
I bought a MYLRAWD two weeks ago and I configured the exact same car last night and the price came out the same as when I bought. I’m not seeing any $3,000 price cut here in CA.
It’s on in-stock local inventory. Once you configure your order, the next page might say “Get A Vehicle Earlier” and suggest local inventory that is close to your configuration. Some of those will have an offered price and then right under that the normal price crossed out. I see quite a few in my area, but not all areas will have inventory that matches your configuration. I see both 3 and Y new inventory with discounts up to $2970. I didn’t look at S and X.
My car was an inventory car. Already on the lot. Configured as I wanted. Red, white interior, and tow hitch. LR AWD. $48,990 plus $4k for the color and hitch. Then add taxes and fees and suddenly you’re at $60,441. Oof. Most I’ve ever spent on a car.
Funny, none of this ever applies in other countries. Here in Spain the price is still 40k for the most basic model 3. How come only the USA ever sees these discounts? Is demand that high in Europe?
Dat sweet, sweet government stimulus money.
Do you look at the inventory? Because in The Netherlands these discounts are applied to the ‘inventory’ cars. However, with the updated model I assume that the demand is very high right now so I don’t expect any discounts this quarter.
There does not seam to be any inventory, delivery time is 2-6 weeks.
I always read about Tesla not doing well, etc yet they seam to sell every car they have in Europe.
Maybe it’s just a NA thing?
There are literally hundreds sitting at a mall parking lot near my local Tesla showroom (NE US).
Seams to be a US thing
“Not doing well” is extremely relative for a company with almost a Trillion valuation. They had 60+% of the EV market for a long time and it was priced into their share price that they’d continue to have a quasi monopoly if the industry as well as be “more than a cat company”.
They still increased sales, revenue, and margins are still better than much of the industry. That said, they only have 4 models, only two of which really sell in large numbers, all in need of a refresh now and revolutionary vs evolutionary update within a few years in most industry analyst opinions. Cybertruck looks like a money sink with no end in sight and $25K EV doesn’t currently exist and seems like another case of over promising.
I still see almost as many new Teslas as all other EV brands combined where I live, but 5 years ago I only saw Teslas, and I’m seeing more and more of the “failed startup” cars like Lucids and Rivians, and traditional auto companies are popping up on the roads all over the place. Even some forgotten cars like Bolt EV were selling like crazy this past 6 months where I live. See a lot of electric BMWs.
By most metrics they had a good year but they failed at biggest metric: maintaining market share as the market exploded in size. They’re cutting margins to try to maintain it but it just isn’t working because there are other things besides just the amount of vehicle you get per cost that are driving people’s choices. Brand loyalty, luxury experience, quality control, form factor, performance and range all matter too.
I’m sure Wallstreet doesn’t expect Tesla to capture 60% of the US EV market at the point where EVs are making up 50% of the US new car market and then beyond as EVs take even more of the market. In 2022, the US car and light truck market was nearly 14 million so that would take 8.4 million Teslas to capture 60%. At $5,000 in profit per car, that would be $42 billion in profit per year just out of the US market. Tesla’s market cap would be way higher if that was a reasonable expectation.
So losing market share from 60% is priced into the stock and expected by basically everyone. You are right though that the question is: how fast does the market share erode (as the market grows quickly) and where does it start to settle in (e.g., does Tesla settle in at 25% of the US new car market; that would be huge because it would be 3.5 million a year of sales just in the US (a massive increase over the about 600,000 Tesla will sell in the US in 2023 and not remotely a number of cars that Tesla can manufacture for the US anytime soon)).
Periodically other manufacturers have had 20-25% of US market share for overall vehicle sales so it’s tough to justify their valuation based on that. A frequent justification of that valuation was that the company could maintain market share. 50+% was always unrealistic but if they can’t capture more than 25% what would make them more valuable than another make making good margins? Toyota for instance.
Tesla has been disconnected from fundamentals forever but “growth” companies start to suffer in the market when the revenue growth and future market share start to decline. Falling margins doesn’t help their case.
Tesla is heavily discounting cars in europe at the end of each quarter for the last 4 quarters now. There were regular price reductions in Q4/2022 and Q1/2023 in Q2 and Q3 Tesla mostly reduced prices on inventory cars and offered other benefits (free supercharging, trade in etc.)
You liar :D
https://www.tesla.com/es_ES/inventory/new/my?arrangeby=relevance&range=0
Same inventory discounts as everywhere else in europe.
I do not see any inventory. This link does not take me to inventory in Spain. All I get is the option to order a car with 2-6 weeks waiting time.
Maybe it’s because I am on mobile.
În Romania it applies, we already have discounts on inventory cars, between 3-7K euros. This summer we had really good ones, people were buying the SR for 27K, and LR & Performance for 37K.
Sweden has massive discounts on the Y now, perhaps related to the strike.
That’s funny. Can they strike in Spain please.
In my country try the base model 3 starts at USD 48,000
Import fees, does Spain have a factory inside Spain?
Inside the EU there are no fees. And I believe the important taxes at the EU boarders are the same all over.
Black Friday deals on a car? Lol
Feliz Tesladad
Reminds me of those focus and a dell commercials from back in the day
It used to be a thing until the car shortage from pandemic
It’s excellent.
Get butts in seats!
No
$40,990 MY and then $7500 off…immediate delivery…holy cow.
Wouldn’t take one for free with Musk and his buddy Netanyahu openly calling for Palestinian genocide.
Fuck imperialism and Musk.