Model Y price increase 1March

[armywildcat]

Looking in the Tesla app and saw under referral announcement that the Model Y price is going up 1 March. This would be great for any of us trying to sell our used Y before our CT arrives.

The $4-5k discount on inventory models has been killing resale values.

 

[Great Bay Shark]

What's actually killing resale values is the high interest rates on used car loans.

 

[armywildcat]

What's actually killing resale values is the high interest rates on used car loans.

Definitely doesn’t help either but a price increase and removal of $4-5k discount on inventory should help.

 

[Great Bay Shark]

I read somewhere that the average used car loan these days is around 14%.

 

[Gigahorse]

I think something that is hurting resale value on the Y is the publicly posted offers that Tesla is giving people for their trade-ins. A bunch of posts on X about people upset about getting offered $14k for a recent year low mileage model Y. Granted Tesla has to make some money on the flip but those numbers being publicized broadly is not helping perceived value.

 

[hridge2020]

Looking in the Tesla app and saw under referral announcement that the Model Y price is going up 1 March. This would be great for any of us trying to sell our used Y before our CT arrives.

The $4-5k discount on inventory models has been killing resale values.

Its a price war too going on .. see here

Ford F has announced significant price reductions for its 2023 Mustang Mach-E to boost sales as the demand for electric vehicles (EVs) has not risen as expected. The price cut is expected to make the model more accessible, thereby helping Ford to solidify its standing in the highly competitive EV market.

The Mustang Mach-E has quickly risen in popularity, becoming the second bestselling electric SUV in the United States in 2023. However, achieving this status required Ford to engage in a fierce price war with the EV behemoth Tesla TSLA, which is now entering its second year. Despite Tesla's dwindling market share in the country, the company still commands over 50% of the EV market.


While Mustang Mach E saw its best sales quarter in the October-December 2023 period, volumes tumbled 50.7% year over year in January 2024 amid the discontinuation of tax incentives. As part of its efforts to safeguard national interests and bolster domestic supply chains, the Biden administration has tightened rules on stimulus measures since the beginning of the year, rendering the Mach-E ineligible for a $3,750 US tax credit.

Amid the demand slowdown, Ford has slashed the prices for the 2023 model year Mustang Mach-E in the range of $3,100-$8,100 across various models, with the adjustments taking effect immediately. These cuts are expected to enhance Mach-E's appeal against rivals, particularly Tesla, which has also been adjusting prices to captivate more customers.

The price reduction positions the Select RWD version of the Mach-E below the $40,000 threshold for the first time. This move is not just about price competitiveness. It's a reflection of the shifting landscape of EV sales, which are not accelerating at the pace seen in previous years. The slowdown suggests that consumers have become price-sensitive and are still apprehensive regarding the reliability of the charging infrastructure.

Ford's spokesperson highlighted that the new pricing strategy aims to balance sales growth with customer value, adapting to market conditions to maintain a competitive edge. The premium trims with extended-range batteries received the most substantial discounts, signaling Ford's intent to attract customers seeking high-end features without the premium price tag. The Premium AWD (Extended Range) trim is now priced at $48,895, at a discount of $8,100 from its prior sticker price.

Ford Credit is also introducing enticing incentives, including a $7,500 "Red Carpet Lease cash incentive" and 0% financing for 72 months for qualified buyers. These incentives, coupled with the federal EV tax credit available on leased vehicles, significantly lower the barrier to entry for potential EV owners, making the Mach-E an even more attractive option.

Source

 

[armywildcat]

I read somewhere that the average used car loan these days is around 14%.

Yep, pretty sad. I have 2.29% on my 2021. My CT will be 5.29%

 

[dandor]

Its a price war too going on .. see here

The problem with the Mach-E right now is that the Model Y has a $7500 credit and the Mach-E doesn't. Right now I could take delivery of a Model Y Long Range for $38,090 point of sale. Ford has no choice, it is not a price war. It is Ford having to match Tesla.

 

[Art138]

I got 5k off a loaded MYP in January…..glad I did; I don’t see any more MYPs you can pick out of inventory at that type of discount.

 

[armywildcat]

I got 5k off a loaded MYP in January…..glad I did; I don’t see any more MYPs you can pick out of inventory at that type of discount.

I did the same in December was to good of a deal not to upgrade. Now I am trying to sell my 21 before my CT arrives.

 

[cgladue]

dont care about resale values, i am not a serial car trader, if you are then its just the price you pay, maybe hold on to your car longer and get more value out of it.

 

[armywildcat]

dont care about resale values, i am not a serial car trader, if you are then its just the price you pay, maybe hold on to your car longer and get more value out of it.

Yeah, I don’t care about money either but would like to get $1-2k more to feed my kids for a couple of months after I spend all our money on the CT.

Resale value has an impact on your bank account regardless when you decide to resell but agree a larger one when you sell after a couple of years.

 

[Strykerwsu]

I read somewhere that the average used car loan these days is around 14%.

Because no one knows how to save and actually have good credit. Otherwise they would get them in the 5s or 6s.