The id.buzz is intriguing. Deadline for a new car is end of March '24 when we go Eclipse chasing for my youngest 10th birthday.
I thought maybe that was it. But the thing is, Tesla raised their prices dramatically over the past 18 months or so, so this price reduction is simply going back to where it probably should’ve stayed to begin with. I never understood why they kept raising the prices seemingly at random.
Tesla also just killed used car pricing on preowned Teslas. In addition it doesn’t do much for the stock price. From what I’ve read if Tesla has to start advertising then the stock price will drop precipitously. Then Tesla will have come full circle as being just another car company.
I get what you’re saying, but Tesla cannot ever be just another car company, as they were the single biggest factor in ushering in the EV revolution. And it absolutely is a revolution.
Check out the following snippet taken from a recent NYT article:
In the same year that Tesla’s stock price dropped by about two-thirds, destroying more than $700 billion in market value, the global market for electric vehicles — which for so long the company seemed almost to embody — actually boomed.
Boom may not even adequately communicate what happened. Around the world, E.V. sales were projected to have grown 60 percent in 2022, according to a BloombergNEF report prepared ahead of the 2022 U.N. climate conference COP27, bringing total sales over 10 million. There are now almost 30 million electric vehicles on the road in total, up from just 10 million at the end of 2020. E.V. market share has also tripled since 2020.
Yep, this latest price reduction on new Teslas will cause a precipitous drop in the price of used Teslas. Heck, the used prices had gotten so high that a few months ago I was able to trade-in my 2020 Model X (which I had bought for $92,000) for $2,000 MORE than what I had paid two years prior. And that was after putting 26,000 miles on it.
I mean it was just insane. My jaw literally dropped when they gave me their offer. Needless to say, I accepted!
ICYMI, trial starts today in the class-action suit against Leon Skum relating to the 2018 tweet about taking Tesla private. The court has already determined that the tweet was false and misleading, so the only remaining issues are scienter (basically, intent to deceive) and damages. The plaintiff class consists of people who bought shares during the 10-day period before it became apparent that the tweet was false.
Skum tried an 11th-hour change-of-venue, claiming (I kid you not) that his actions with respect to Twitter had turned prospective jurors in SF against him to the point that he couldn’t get a fair trial, but the court wasn’t having any.
Wyoming has proposed banning EVs. I wonder how Elon feels about this.
https://thehill.com/homenews/state-w...cle-sales/amp/