8/6/2023 0 Comments Tesla inventory model 3![]() ![]() The impact this has on residual values is gonna be fun to watch. If you’re selling them, they are, uh, less good. If you’re aiming to buy a Tesla, it seems like times are good. This Model 3 might be the most overpriced Tesla in America. Even adjusted for trims, there are 368 base model Tesla Model 3s listed above that number. That means you can get a new Tesla for cheaper than a used Tesla. Given all the problems Carvana has had lately, it’ll be interesting to watch how much they can afford to write-down cars compared to CarMax.Īccording to, more than 7,500 used Tesla Model 3s are listed for sale (primarily by dealers) in the United States, with more than half of them listed above $40,000. It might be harder for Carvana to part with cars given that they were driving up prices dramatically. ![]() Either way, they aren’t listed for sale anymore.Ĭarvana is also dropping prices ( here’s a Model Y with a $9,000 price drop), but their inventory stands at least 700 cars as of this morning. It’s also possible that CarMax is pulling these cars from inventory and is wholesaling them. The presumption is that these cars have been sold, but I don’t have any proof of that. It seems like CarMax has decided it’s better to drop inventory as fast as possible rather than let the cars sit there overpriced. If you look around you’ll see a lot of similar price drops. $11,000! Overnight! That’s a big drop considering the car was only discounted $2,000 over the course of the prior month. and they show this Tesla Model Y in Lafayette dropping from $55,998 on January 13th (pre price-drop) to $44,998 in a day. It’s not easy to tell on CarMax’s website when they discount a car, but Edmunds tracks it for you. In searching around it seems a little uneven, but here’s a good example: What’s happening? For one, CarMax is heavily discounting Teslas. That’s a drop of a little over 69% in a few days. As of this morning, when I checked, there were about 210 (you can check for yourself here). Two days later, that inventory dropped to 301 Teslas. So, above he pointed out that CarMax had 696 Teslas in stock on January 13th. His analysis is mostly just tweeting out whatever bits of data he sees and reacting in these big pronouncements to get social engagement, but he hasn’t Milkshake Duck’d yet and he does find some interesting stuff so let’s roll with it. UPDATE: Carmax sold 57% of its ENTIRE Tesla inventory in the past 24 hours ? Īs I believe I’ve expressed before, I have some skepticism about and not just because he pays for a blue checkmark and tweets bullshit memes. It doesn’t require a lot of shrewd analysis to see that lowering prices helps to move inventory.īut what of used cars? Used cars also qualify for incentives but they’ve got to be below $25k and sold by a dealer, so that rules out most used Teslas for sale right now. Then came Tesla’s big price drop last week, putting the Model 3 and Y into contention for the tax break in certain trims.ĭid it work? The TeslaData website tracks Tesla inventory and, going back to October, you can see a big spike in the inventory above followed by a big drop. The problem? New Teslas were mostly too expensive. ![]() The Great Tesla Sell-Off Continuesįirst, there was the great sell-off in Tesla stock, with the company losing 64 percent of its value in the last year (based on the current stock price, which I Googled about two minutes ago.) Then came the Inflation Reduction Act, with a quirk that meant new Teslas suddenly could qualify for the full $7,500 tax credit until the end of March. ![]() If that’s not your vibe, I also have the dullest story in the history of dull stories because David is quite excited about it. The sudden Tesla price drops have had the seemingly intended impact on Tesla’s inventory, with cheaper cars and government incentives colliding to move a lot of the cars. ![]()
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