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Demand has collapsed in the US for model 3 and looks incredibly weak in Europe and China at this point. There is no reason for this across the board price cut o
by camjohnson26 8y ago
Demand has collapsed in the US for model 3 and looks incredibly weak in Europe and China at this point. There is no reason for this across the board price cut other than weak demand.
- Lapsed 8y agoWhere are you getting this from?
- camjohnson26 8y agoIt’s general consensus but here’s an article for example that suggests less than 20,000 Europe orders and hundreds in China. Of course we won’t know for sure until Q1 earnings but it’s a safe bet https://seekingalpha.com/article/4239396-tesla-weak-model-3-demand-europe-china-may-widen-losses-2019 https://seekingalpha.com/article/4239396-tesla-weak-model-3-...
- camjohnson26 8y agoAnd as a follow up, insideevs just posted February’s numbers: 5750 model 3. That’s down from 6500 in January and over 25,000 in December and 18,000 in November. https://insideevs.com/tesla-model-3-s-x-sales-february-2019/ https://insideevs.com/tesla-model-3-s-x-sales-february-2019/
- umeshunni 8y ago> Demand has collapsed in the US for model 3 and looks incredibly weak in Europe and China [citation needed] Driving up 101 daily, I see truck after truck loaded with European-specced Model 3s heading towards the port of San Francisco.
- greglindahl 8y agoYeah, it’s not a route that used to have a lot of car carriers on it, now there are a lot of them.
- camjohnson26 8y agoEven with weak demand they’ll still deliver a lot of cars. The question is if it’s enough.
- leesec 8y agoLol. Best selling electric car in world last year with heaps of momentum that just got cheaper. Doesn't appear to be collapsing to me.
- camjohnson26 8y agoWell insideevs just posted the February sales numbers which are absolutely terrible. 5750 model 3s sold, down from around 6500 in January and 25,000 in December. That’s a collapse and that’s why they’re slashing prices now, even though there’s no evidence they can get the margins low enough to make a profit on this car. https://insideevs.com/tesla-model-3-s-x-sales-february-2019/ https://insideevs.com/tesla-model-3-s-x-sales-february-2019/
- yread 8y agoI think so. Model3 used to have 300k backlog and now you can get one in 2 weeks?!
- boznz 8y agoAs a person on the list since 2016 with a tentative delivery date of late 2019 I respectfully think you are pulling this statement out of your arse.
- camjohnson26 8y agoWell we won’t know until they post Q1 results but they said yesterday they’re expecting a loss now, downgrading from initial plans to post a tiny profit. General consensus is that the halving of the federal tax credit drove down Q1 demand significantly.