Teslas plummeting in value - Emperors no clothes moment?

[Honeywell]

Just listening to the Collecting Cars podcast and they've got onto how EV used prices have been collapsing.

I did look back in the Autumn at used Model 3's and there was nothing around that wasn't bent and under £38k. Now the classifieds have loads at mid £20's. Quite the change. As most are leased does this mean there is a long cold unpleasant bath for the Leasing companies?

Can they actually offload all the cars they shifted new in 2019/2020 when they were very hot property and the pinnacle of fashion? Does everyone who EV's suit now already have one? I've a massive farmyard, massive South facing shed roof for solar panels and only need a 180 mile daily range which Teslas all have easily. I have the 40% employer tax break scheme to shave £400 a month of the real lease cost of a 20,000 mile contract and yet I still don't want one and can't make the numbers stack up against a perfectly fine BMW diesel that's been around the planet a few times.

Is the stock market correct by indicating Tesla was a bit of a flash in the pan?

[Honeywell]

https://collectingcars.com/podcasts/?utm_source=&a...

[egomeister]

No, its just a rebalancing of supply/demand and the pricing dynamics over the last couple of years.

Tesla stock plummeting in value is the emperors new clothes moment.

[NMNeil]

The price of all used cars is dropping, not just Tesla.
https://www.forbes.com/sites/jonathanponciano/2023...

[JD]

Honeywell said:

Is the stock market correct by indicating Tesla was a bit of a flash in the pan?

A flash in the pan?

They will have the highest selling car in the world this year…

[kambites]

egomeister said:

No, its just a rebalancing of supply/demand and the pricing dynamics over the last couple of years.

Tesla stock plummeting in value is the emperors new clothes moment.

The current price corrections are long over-due but are hardly unique to Tesla.

Tesla's share prices have been (and indeed arguably still are) utterly ridiculous. Those two facts are not directly related!

[SkodaIan]

Used prices of all cars are going to drop (or at least not go up any more in absolute while inflation drops their relative value) , they've been stupidly high for a couple of years now.

Tesla have a different problem. Back in 2019/2020 they didn't really have any competition. Only the Kia Niro and Hyundai Kona could really compete on range, and they were quite a bit less "premium". Now, VW, Audi, Merc etc all have something which directly competes, and Hyundai / Kia have got some more upmarket offerings too.

[sixor8]

JD said:

A flash in the pan?

They will have the highest selling car in the world this year…

Hardly. If you're going to be model specific, maybe in the UK, but even Nissan make many more models than just the Qashqai (Model Y was 2nd).

In the USA they sold over 650,000 F-Series Ford pick-ups last year. And Ford have a wide range of vehicles too.

https://www.motor1.com/news/632430/best-selling-ca...

Tesla may have sold 1.3 millions vehicles in the USA in 2022 but it was less than 10% of the total:

https://cars.usnews.com/cars-trucks/features/tesla...

https://tradingeconomics.com/united-states/total-v...

Edited by sixor8 on Monday 23 January 16:10

[Dave Hedgehog]

Honeywell said:

https://collectingcars.com/podcasts/?utm_source=&a...

if you want to listen to idiots with no idea this is the place to go lol

[Honeywell]

Yeah because Chris Harris and the guy who owns the Dick Lovett chain of car dealtherships have no idea about cars compared to a man called Mr Hedgehog.