Can Tesla Fix The EV Demand Slump?

[quellLeo]

It convinced me. We were shopping around for used MY but with the 0.99% rate + federal + state incentives it is going to be a lower monthly payment, less interest over term of the loan, and paid off a year faster buying a new MY LR RWD than buying a used AWD 2020 in our area. Don't care to wait for the refresh we need a car in the next couple months not next year. While AWD would be nice I just want the cheapest model Y I can get.

[ryanfraley]

I talked with a high school friend who looked into electric trucks and instead bought a F-150 Powerboost Hybrid that enables him to drive with electric power in the city where he lives to some degree. The thing he pointed out as the reason to not buy was the charging infrastructure and range not being there yet. As someone undergoing a similar process, I'm having similar thoughts. It's hard when there's 0 public chargers in a lot of the small towns around me. I know I can charge at home but off interstate travel isn't assured of charging stations. Also he told a story of a friend who went on a road trip with him and had a Hummer EV where the Hummer ran out of charge near the end. As someone looking at the Lightning and Rivian, I'm also having to reluctantly put the Powerboost Hybrid on the list. Not because that's the one I want but because of the charging infrastructure in the Midwest being dog doo. I can see why Tesla's pile up on the Chesterfield Lot (which is ironically only about 20 minutes from where I live in St. Louis.)

[alx]

Makes sense now to allow the lease buyout since Tesla is now selling used inventory. The thought was the lease vehicles would become Tesla robotaxi fleet. If you sell used then allow lease buyouts

[davidgazeley]

Tried to buy a model Y today. Did the pre approval process for the .99% put in my zip code so it should have been obvious that i live in North Dakota. Got approval so i pulled the trigger and paid my deposit including the $250 non refundable fee. After they took my money the cheap interest offer went away. Promotional interest rate not available in ND. Super disappointed. Why tell me it is available just to not offer it after i paid. I’m out the $250 now. I feel like Charlie Brown.

[SomeGuyNamedPaul]

It's common for people to buy out the lease on day 2 of ownership for other EVs because they want to buy a vehicle that has a battery pack that doesn't qualify for the rebate.

[IndigenousEarthling]

Model Y interest rates are down, and range is up. I'm pretty sure lots of folks are looking hard. I'm still sticking to my plans and waiting until next year for the refreshed Y long range AWD, maybe with Hardware 5.

[OffgridApartment]

Can’t help but think a lot of the take rate for model Y is due to the impending refresh.

[MacTX]

Interest rate just seems like a scapegoat to cover for more important things. Something more important is vehicle cost, insurance costs, and everything associated with living with an EV. If EVs costs more, that's a hurdle. Also, the Federal tax credit incentive being tighten and phased out isn't helping. If insurance for EV's cost more, that's another hurdle.

The enthusiasts have their EV, they've overlooked any hurdles for EV ownership. Regular folks, they won't, and that's the slump we're seeing. What's really telling are the folks who have bought an EV and have gone back to combustion engine cars.

[chrisborns]

We bought the morning of the new rate. The delivery center was busy! A great deal on an epic vehicle. Financing it as a work vehicle made tons of sense cost was only $2k more than the plz buy covid pricing on its predecessor. After 4yrs inflation it was much cheaper than the reasonable Japanese family wagon. No oil changes or fuel! Super stoked.

[ianbladuell]

It’s not going to increase until prices come down to the $25, 000 price range before EV tax credit and there’s larger infrastructure including apartments and work locations

[SDseb]

Took advantage of the 0.99% interest rate and got myself the Model Y. My first ever car that happens to be also electric. I test drove a Model Y before hand to feel it out and I have to say I'm super excited to get mine once everything is set!

[julianfify]

I got a email and text about the 0.99% apr and ehhh not a fan on suv type cars if it was only the new model 3 I might of pulled the trigger

[ernest]

I'll hold onto my Mazda 3 hatchback until the Aptera comes out.

[techboss]

Tesla needs to kick Elon to a Chief Vision Office and remove his firing powers. He is not stable and needs to be kicked down a bit to understand long-term sustainability.

[matts]

Interest rates? That’s cope. Fanboys need to start accepting that the adoption rate gets much harder from here. If you are an EV enthusiast you’ve already spent your money. Now the industry needs to convince regular consumers that owning an EV will be a good purchase and will be as convenient as a hybrid. Step 1: don’t fire your charging station team. Step 2: create batteries that don’t cost more to replace than the used car is worth.

[asingh]

Model Y should have been updated last year and the sales would have been better. My model Y lease is coming up. Going with a Hyundai 5 N

[rocketbrothers]

I really don't understand why Tesla doesn't have the option to buy out the lease at the end of the term. I am looking to lease the model 3 performance for 3 years due to the high interest rates. I don't want an old design Model Y, I am mainly leasing due the fact I don't know if I will wanna stay in the Tesla family as this is my first Tesla.  

Also, I originally wanted a refreshed Model Y Performance, so with the 3 year lease I have the opportunity to know after 3 years if I want stay with Tesla, and the MYP will have been available for a few years and most of the kinks worked out. Who knows, perhaps before my 3 year lease ends, TESLA will have reversed their dumb policy of customers not having the option to buy out the lease.  

Even with the RoboTaxi mindset, not all customers would option to buy after the term, this still offers plenty of vehicles turned back to Tesla for a fleet and or resale.

[bearcubdaycare]

An American buying a used Tesla may be eligible for a tax credit, while someone buying out the car at end of their lease probably wouldn't, I think? So that might be an incentive for Tesla to sell the car used at end of lease, rather than selling it to the lessee. Worth more to the used buyer given the tax credit.

[backdoormanintheend]

I don't want to attempt the math, but Tesla does have close to 30 billion dollars. Surely they could finance a few cars with some of that (leaving plenty leftover for capex). Are fairly rapid depreciation and just a three year bumper to bumper warranty good reasons not to buy out a lease? There is also the Osborn effect of new technology (800 volt charging, much improved suspension, steer by wire, etc.). Had I leased my 2020 model Y, I wouldn't have given a second thought to buying out the lease. At 70k miles, the front end was worn out and it never had a good ride. Insurance is expensive. I was paying over $80 more per month on my 4 year old model Y than I am on my brand new F-150 Lightning. Go figure. After my model Y experience, I'd be very wary of holding onto a Tesla past its 3 year bumper to bumper warranty (unless the warranty could be extended a couple of years?). With all of the controversy surrounding Elon, I'm afraid people's opinion of Tesla has soured even more.

[artboymoy]

As good as the deal is, the Aptera is going to be my next vehicle.