![]() ![]() Swapalease, a car-lease-trading site, had around a dozen or so Teslas available for trade at any given time, all of which would be spoken for within a few hours (I was in the Tesla market last year, and when I reached out to one woman a mere 12 hours after she had posted her Model Y, she told me I was one of 50 people who had already reached out trying to take over the lease of her car). Even the used-car market for Teslas has been battered. While last July, the wait time for a new Tesla Model Y, the company’s latest crossover, was as long as almost a year, by the end of December, the company was offering up to a $7,500 discount to new Model 3 and Y buyers, and throwing an additional incentive of 10,000 miles of free supercharging-likely because demand for the vehicles had fallen so much and so abruptly. The company’s stock has fallen almost 70% in the past year, hundreds of billions of dollars (at a recent low, Tesla’s stock had fallen by the equivalent of 20 Twitters in value, if you believe Twitter is worth $44 billion). And now a $13k price drop and us being left out in the cold.”Ĭustomers complaining is of course only one of the slew of problems facing Tesla today. But after years of hoping to buy a Tesla, saved enough and finally took delivery of a MY three weeks ago. Another customer wrote: Sir, I’m not one to whine. “Saved up to afford a Tesla and in 2 weeks, slashed the prices by a mad number! Feels extremely painful and UNFAIR! I wish they price match or be fair! Or, I’d like to return the unfairly priced car please!” a customer from Menlo Park wrote on Twitter. On social media, countless customers who had recently purchased cars at the higher prices lambasted Tesla and Musk. Similar frustrations spilled out Thursday in the US when Tesla announced deep price cuts to its entire Tesla fleet, reducing the price of a Tesla Model Y Performance model by $14,000, or 18.6%, and lowering the price of the Tesla Plaid cars by as much as $21,000, or 15%. (Over 1 million people had forked over a deposit by March 2021.) But this past week, customers in China raced to numerous Tesla showrooms and jammed the company’s phone lines for a completely different reason: They were protesting the fact that recent cars they had purchased were now worth much less after Tesla made major price cuts to its vehicles in response to reduced customer demand. It happened again when the Cybertruck debuted in 2019 and more than a quarter million people raced to hand over money for Musk’s first truck within the first week of its announcement. This happened when the Model 3 debuted in 2017 and thousands of people waited outside Tesla dealerships to pay a $1,000 deposit just to be on a list for the new car. ![]() In other instances, people have even lined up outside the Tesla showrooms around the world to put their names on a list for the latest and greatest Elon Musk had to offer. Sometimes demand is so voracious that the Tesla website can grind to a halt with customers trying to beat each other for a better order number for the company’s latest electric vehicle. Over the years, when new models of Teslas have been announced to the public, customers have raced in every direction to be the first people to plunk down their deposits. ![]()
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