Tesla owners are angry about buying their vehicles right before the latest big price cuts—and are letting Elon Musk know: ‘I feel completely duped’

Tesla's latest price cuts have left existing customers feeling frustrated and resentful, as they now see their vehicles lose value, while potential buyers hesitate to make a purchase fearing further reductions.

fortune.com

Relevant topic timeline:

8/27/2023

Experts are witnessing a strange new phenomenon in the demand for electric cars: ‘We call it the ‘Field of Dreams’ moment’

Huge price reductions and increased availability are driving growth in the electric vehicle market, which saw record sales in 2023, as major manufacturers like Tesla, Ford, and General Motors lower their prices and pass on cost savings from raw materials to consumers.

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NIO in charts:Q2 deliveries disappoint amid shift in market preference to Sedans from SUVs

Tesla is predicted to reach a value of $1.00 by the end of the year, and despite mixed opinions on its quality, it is seen as a dominant force in the automotive industry similar to other successful tech companies like Apple, Nvidia, Google, Amazon, and Microsoft.

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Tesla drops price of Model S/X, Model X now qualifies for US tax credit

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9/1/2023

Tesla drops Model X price to qualify for federal incentives that Elon Musk once opposed: ‘I’m literally saying, get rid of all subsidies’

Tesla has reduced the price of its Model X, making it eligible for federal tax credits that Elon Musk previously criticized.

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Tesla Boosts Sales With Price Cuts But Squeezes Margins, Raising Questions About Future Profit Growth

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Goldman Sachs Sees Margin Pressure for Tesla Ahead Despite Growth Potential

Despite Tesla's record deliveries in the second quarter, the series of price cuts have impacted margins and Goldman Sachs analyst Mark Delaney expects Tesla to continue slashing prices in 2024 to support higher volumes, resulting in lower vehicle sales than previously anticipated in Q3 and reduced EPS estimates for 2023 and 2024.

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Posted 9/2/2023, 9:03:00 PM

Tesla owners are angry about buying their vehicles right before the latest big price cuts—and are letting Elon Musk know: ‘I feel completely duped’

fortune.com

Relevant topic timeline:

8/27/2023

Experts are witnessing a strange new phenomenon in the demand for electric cars: ‘We call it the ‘Field of Dreams’ moment’

8/29/2023

NIO in charts:Q2 deliveries disappoint amid shift in market preference to Sedans from SUVs

9/1/2023

Tesla drops price of Model S/X, Model X now qualifies for US tax credit

9/1/2023

Tesla drops Model X price to qualify for federal incentives that Elon Musk once opposed: ‘I’m literally saying, get rid of all subsidies’

Tesla has reduced the price of its Model X, making it eligible for federal tax credits that Elon Musk previously criticized.

9/4/2023

The Car Market Just Flipped — But the Prices of These 9 Vehicles Remain High

Car buyers are finding some relief in the US market, as prices for new vehicles have dropped by up to 20% thanks to an increase in unwanted EVs, although certain vehicles remain expensive.

9/14/2023

Tesla Boosts Sales With Price Cuts But Squeezes Margins, Raising Questions About Future Profit Growth

9/18/2023

Goldman Sachs Sees Margin Pressure for Tesla Ahead Despite Growth Potential