Tesla used car price bubble pops - Reuters

[chassis]

“Now fuel prices are easing, interest rates are rising, Tesla output is increasing, and EV competition is growing, leading used Tesla prices to fall faster than the market, and creating a cascading effect on prices of new Teslas.”

[NYG]

lol @ all the EV gestapo on here who paid 130k for a model y so they can impress none of us.

[Murf the Surf]

Originally Posted by chassis

“Now fuel prices are easing, interest rates are rising, Tesla output is increasing, and EV competition is growing, leading used Tesla prices to fall faster than the market, and creating a cascading effect on prices of new Teslas.”

Maybe I don't get it but I can't see there being much of a used car market for EV's in general. The battery issue alone is a ticking time bomb. But I look at EV's like mobile phones, people seem to want to upgrade to get the latest tech, so a three year old EV is about as appealing as a 3 year old Samsung Galaxy.

[chad86tsi]

Originally Posted by Murf the Surf

Maybe I don't get it but I can't see there being much of a used car market for EV's in general. The battery issue alone is a ticking time bomb. But I look at EV's like mobile phones, people seem to want to upgrade to get the latest tech, so a three year old EV is about as appealing as a 3 year old Samsung Galaxy.

Seems like an over-simplistic comparison, but raise of hands, who here has replaced an otherwise working cell phone because of battery life degradation?



Follow up, how much did you sell your old phone for?

[hihowareyougood]

Not sure if source data is the same, but I cross-referenced against Cargurus' website which seems consistent with what Reuters is reporting. I think this is a good thing though, as prices in this segment of the auto market are now returning to earth and may soon be within reach of the average Joe. Per Cargurus, the average used price of a Tesla is two times Cargurus' index and doesn't have the same brand cachet as the likes of Porsche, so it seems logical that the average value decreases are steeper.

https://www.cargurus.com/Cars/price-trends/

Also, the whole battery degradation thing is a tad overblown. The battery is absolutely a critical and expensive point of failure, but on the flip side there are far fewer moving parts to break. On ICE there are a myriad of things that break and albeit are usually cheap fixes, they're still headaches. People also blow up their engines/transmissions all the time and have to foot a $6-12k OTD repair bill on a car worth <$50k, so it's kind of a pick your poison thing.

[Clark_Kent]

Originally Posted by NYG

lol @ all the EV gestapo on here who paid 130k for a model y so they can impress none of us.

Who paid $130K for a Model Y?

[GOLFFRR]

Originally Posted by Clark_Kent

Who paid $130K for a Model Y?

I was just about to comment that.... Thats more then double the price of the y performance I believe?

[NYG]

Originally Posted by Clark_Kent

Who paid $130K for a Model Y?

Idk but if someone did, you all know who it is on this forum.

[dgoldenz]

You mean a moving toaster doesn't hold its value? Say it ain't so!

[M5VanHalen]

Originally Posted by Murf the Surf

Maybe I don't get it but I can't see there being much of a used car market for EV's in general. The battery issue alone is a ticking time bomb. But I look at EV's like mobile phones, people seem to want to upgrade to get the latest tech, so a three year old EV is about as appealing as a 3 year old Samsung Galaxy.

The thing that doesn't get addressed enough about EV's are they have a terrible build quality and reliability record. Just look at the recent Consumer Reports list of least reliable vehicles; EV's are at the top of the list. Tesla's are particularly bad when it comes to build quality and reliability. Considering the price you pay for a Tesla, I would never pay that amount for a vehicle so unreliable and poor build quality.

[LogicalApex]

No surprise. The used car market bubble in general is having its gas let out.

Originally Posted by Murf the Surf

Maybe I don't get it but I can't see there being much of a used car market for EV's in general. The battery issue alone is a ticking time bomb. But I look at EV's like mobile phones, people seem to want to upgrade to get the latest tech, so a three year old EV is about as appealing as a 3 year old Samsung Galaxy.

In Tesla’s biggest market, CA, and other CARB states EV batteries are warrantied for 10Y/150K miles by CA regulations. So buying a used EV isn’t a ticking time bomb.

I guess buying a 10Y old one could be, but the same is true for a 10Y old ICE where you might need a new transmission or engine in that range. Who knows where that thing stands after that age and mileage with probably 4 or 5 owners in that time.

[yousefnjr]

Originally Posted by M5VanHalen

The thing that doesn't get addressed enough about EV's are they have a terrible build quality and reliability record. Just look at the recent Consumer Reports list of least reliable vehicles; EV's are at the top of the list. Tesla's are particularly bad when it comes to build quality and reliability. Considering the price you pay for a Tesla, I would never pay that amount for a vehicle so unreliable and poor build quality.

Just 1 data point here, but my i3 was the most reliable BMW I've ever had and the only one that didn't rattle somewhere on the inside. Miss that ugly little thing.

[Murf the Surf]

Here's an interesting article about the Canadian mandate for EV adoption. The author is an electrical engineer and auto journalist for over 20 years who's written extensively on EV's.

https://driving.ca/column/motor-mout...ish-automakers

[chad86tsi]

Originally Posted by Murf the Surf

Here's an interesting article about the Canadian mandate for EV adoption. The author is an electrical engineer and auto journalist for over 20 years who's written extensively on EV's.

https://driving.ca/column/motor-mout...ish-automakers

From one of the comments in that story at the bottom (not me):

A few years ago a BC Hydro executive said that if everyone in BC bought an electric car, another 15 dams would have to be built to charge them all. "Which valleys would you like flooded?" he asked.
Just imagine getting 15 more dams designed, approved, the land bought or expropriated, the protests...ain't gonna happen in this current environmental mindset.
And that's aside from the grid upgrades necessary to carry and distribute all that electricity.
But leftists don't do math. They do feelings.

[ASAP]

I never really entirely understood why Tesla resale value was so good... it is a constantly up gradable car that is rendered useless after a few years... the battery degradation is another issue. The Model 3 was hard to get for like a year or so.

[Murf the Surf]

Originally Posted by chad86tsi

From one of the comments in that story at the bottom (not me):

A few years ago a BC Hydro executive said that if everyone in BC bought an electric car, another 15 dams would have to be built to charge them all. "Which valleys would you like flooded?" he asked.
Just imagine getting 15 more dams designed, approved, the land bought or expropriated, the protests...ain't gonna happen in this current environmental mindset.
And that's aside from the grid upgrades necessary to carry and distribute all that electricity.
But leftists don't do math. They do feelings.

I think as the reality starts to sink in with respect to the need to increase electrical output and then the infrastructure (grid) to supply it and the ramifications that is going to have on the environment it should be interested in seeing how all the environmentalist who want EV reconcile the reality we will surely be faced with.

[chad86tsi]

Originally Posted by Murf the Surf

I think as the reality starts to sink in with respect to the need to increase electrical output and then the infrastructure (grid) to supply it and the ramifications that is going to have on the environment it should be interested in seeing how all the environmentalist who want EV reconcile the reality we will surely be faced with.

They will just say "solar and wonder batteries (we wonder when they will be invented) will fax that". You know; that famous canadian winter solar energy.

[Tambohamilton]

Originally Posted by chad86tsi

Seems like an over-simplistic comparison, but raise of hands, who here has replaced an otherwise working cell phone because of battery life degradation?



Follow up, how much did you sell your old phone for?

Yes. Gave it to a friend who's phone had broken (not battery related). I was fed up of having to charge it twice a day.

[NickyC]

Musk sure is over the target right now.

[Efthreeoh]

Just one correction, rising gas prices was not because of the Ukraine war. Lol.

[NickyC]

Originally Posted by Efthreeoh

Just one correction, rising gas prices was not because of the Ukraine war. Lol.

Sure they were!

"Safe and effective" was also both as well!

[________]

I’m so confused, this is like the 4th or 5th EV/Tesla thread, do we need more than 1?