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The cost of new electric cars has fallen. This impacts the resale value of older cars. Further, these were relatively early model 3 with not great initial qua
by mlyle 2y ago
The cost of new electric cars has fallen. This impacts the resale value of older cars.
Further, these were relatively early model 3 with not great initial quantity, and Hertz had a bad operational experience for various reasons that are causing them to unload a bunch all at once.
Finally, Musk’s antics are arguably causing brand damage.
All of these impact resale value.
- Sohcahtoa82 2y ago> The cost of new electric cars has fallen. This impacts the resale value of older cars. It's really amazing to see. I bought my Model 3 Performance in 2019 for ~$57K. If I were to buy today, it'd be $56K. Now, a $1K drop doesn't seem like a lot, but there's been a lot of inflation in the last 5 years, and the M3P today has a couple newer features that mine doesn't have, like a power lift trunk, heated steering wheel, adaptive suspension, a screen for the rear seats, and faster acceleration. Accounting for inflation alone, the M3P today should be costing ~$70K. With all the added features, it really should be $75K. But it's only $56K.
- vel0city 2y agoIt's insane you think a car with power liftgate and heated steering wheel should be a $70k car today. $40k cars in 201x had these features.
- Sohcahtoa82 2y agoI don't think it should be a $70K car today because of the power lift gate, I think it should be $70K because of inflation, and the fact that it does 0-60 mph in 2.9 seconds.
- frumper 2y agoTax credits too. In 2019 you probably got a partial credit, in 2020-2022 you didn't get any federal credit. Today's M3P is now $49k with an instant credit. https://www.tesla.com/blog/what-you-need-know-about-federal-ev-tax-credit-phase-out https://www.tesla.com/blog/what-you-need-know-about-federal-...
- Sohcahtoa82 2y agoYeah, I got $1,750 federal credit, though I didn't factor that into my price.