Elon Musk’s downgrade of Teslas is causing them to lose value faster than their rivals

At the beginning of the year, Elon Musk made a decision regarding Tesla : to lower the price of its. Models in Europe, the US and China . This, although at first it seemed like it would do more. Damage to his rivals , it seems that now it has turned against the billionaire . In January, Elon Musk defended this average by stating that “people’s desire to own a Tesla is extremely high. The limiting factor is their ability to afford a Tesla .” According to the Financial Times , the value of Tesla cars has plummeted on the second-hand market since the announcement of the price reductions. An example of this is the depreciation in the United Kingdom, one of Tesla’s main markets. In this country, the value of a new Model 3 with a long-range battery purchased in January this year in the United Kingdom for 57,435 pounds.

However Tesla is not following that line that the rest

An abysmal drop if we compare it between September 2021 and 2022, when the drop was only 4%. This devaluation is significant because, as a general rule, although. The prices of second-hand cars are usually lower, lately they were quite close to the originals .  of the rival brands have. First photos of Tesla’s new Supercharger.  Suggest it addresses a common complaint Philippines Mobile Number Database from non-Tesla electric car owners In contrast to the predicted drop in value for a Model   Polestar 2 electric purchased in January. Will be worth around £33,000 in early 2024, a loss of £, according to CAP HPI forecasts. This depreciation of Tesla models makes its cars potentially more expensive than those of its rivals in financing deals.

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Which offer discounts and incentives to help drive

This is because, according to the leasing or purchase contracts, users have to finance. The value that the car loses during this rental period. “Tesla has also struggled to grow its second-hand sales operation, meaning cars are often sold too cheaply ,” explains Dylan Setterfield, head of forecasting at CAP HPI. This has also played a major factor in the decline in German phone number list Tesla’s second-hand values ​​since last year, he adds. Elon Musk accuses Google of carrying out “insane, racist  and anti-civilizational. Programming” with its artificial intelligence Tesla sets prices globally, unlike other manufacturers that use local branches or dealerships,  sales. Another problem that the American brand has is the shortage of available models , something that does not happen to its rivals. This means it is less cushioned against a widespread drop in demand as economic conditions worsen.

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