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This will be the 4th price cut this year and the 2nd this month. You’d be crazy to buy a new Tesla at the moment, you just don’t know what it will be worth in 3 years.
https://finance.yahoo.com/amphtml/news/tesla-misses-first-quarter-estimates-202015555.html
Enyaq EV
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I can’t open the link to that, but I suppose Weird Elon will be offering us our Advance Payment back if any Tesla makes it on to the scheme ?
2024 - BMW i4 Grand Coupe eDrive 35 Sport
2020 - Volvo XC40 T4 Inscription
2017 - Audi Q3 TFSi Sport S-TronicRenault is also reviewing its pricing policies for electric cars worldwide to ensure it stays competitive after a wave of price cuts by Tesla. However Renault has also warned that cutting electric vehicle prices will “kill” the residual value of cars, hours after Tesla vowed to keep reducing its own rates to drive sales higher.
Nowt wrong with a bit of good old competition to make them more affordable to the mass market. Asides manufacturers are likely to sell more, which is surely good for business-well it was when I had mine!
Yep, it’s not like we all didn’t know that was gonna happen!
Mist newspaper, the Grauniad excepted are anti ev and will push any anti ev story.
as more cars become available, Tesla, who have the biggest part of the ev pie will need to reduce prices to continue build levels.
However, the facts are:
Tesla were the best selling car of Q1 2023, 71,683 cars up by 17.3% year on year
2) Dacia Sandero, 60,202 cars up 27%
3) VW T-Roc 54,960 cars up 50%
4) Peugeot 206, 53,336 cars up 3%
5) Vauxhall Corse 53,307 cars up 38%
6) Toyota Yaris cross, 53,050 cars, up 57%
7) Fiat 500 45,598 cars up 30%
8) Dacia Duster, 45,310 cars, up 31%
9) Renault Clio, 44,134 cars, up 16%
10) VW Golf, 42,903 cars Down 8%
Interesting the cars not in the top ten….
For a few years there’s been that message that BEV prices will drop significantly. Here it comes.
As popularity rises competition for customers will increase and those who built a bank account on high pricing will now have the opportunity to cut the fat and prices. Meanwhile the legacy manufacturers are going to have to pull up their socks and live with the cuts. For owners, it’s not great news, Lease companies will anticipate huge depreciation and put up the monthly pricing, owners will find that their car they paid heavily for will be worth significantly less than they thought when they bought it but the gap between old and new will not have grown massively.
Once it’s done we may lose some who thought the prices would cover some heavy investment before the drops came. What we will have is a selection of high quality vehicles (in the main) at prices that will be more than competitive with their ICE counterparts.
I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.Mark
Fake news abound. Autotrader says less people have searched for EV’s on their site, and suddenly EV sales are crashing….lol.
Yes, EV sales are lower as are all vehicle sales as recession kicks in.
You got to love Musk dropping the prices ofTeslas to knock out the competition and the French are not happy.
Although Teslas are a bit long in the tooth and other manufacturers are catching up, Musk is roasting the car industry hard.
Soon, soon there will be Teslas on Motability….lol…
There are no ICE counterparts, as they are obsolete as steam locomotion and prices are not important.
The very near future is EV sales, there is nothing else.
This is great news, ev’s are over priced and this will make them more affordable on the secondhand market.
If you look at our id3 tour for example which is July 21 WBAC for the first six months was showing £42000 and at a year old with over 20000 miles was £38000, in January it fell to £28000 and now £24000!
Most cars lose at least 50% in three years or at least pre covid days
Fake news abound. Autotrader says less people have searched for EV’s on their site, and suddenly EV sales are crashing….lol.
Is it fake news or only fake news because you don’t want to agree with it!
Both the AA and DfT have mirrored what Autotrader has said. Although nearly three quarters said they would buy a BEV in the future. The biggest reasons were, they are too expensive and the DfT also said lack of chargers were amongs’t the biggest reasons.
BEVs are a niche market gaining intrest from prospective buyers, like anything that occupies that end of the market prices remain high. However as there market share and demand grows, there prices start to flatten out, just the same as any market. Then theres the growing number of Chinese BEV’s, especially in mainland Europe, mainly due to the side of the road they drive at the moment, which will also help to flatten out prices.
Renaults stance is just pure greed and I suspect there not the only ones. In return this is fueling leasing companies to anticipate higher han normal depreciation values. However as the BEV market continues to stabilize, depreciation values will change very little if at all. What will change is the residual value , which is quite normal. For example the BMW BEV will hold on to its value and depreciate far less than a Renault or Peugeot BEV of an equivulent size. No different from there ICE counterparts.
Chip shortages (European manufacturers have seemed to have fared less favourable than other markets with this) have also sent prices soaring in both the new and secondhand markets, as demand outstripped supply. As this resolves and manufacturing outstrips demand prices will fall. As more foreign markets enter Europe prices will flatten out, as predicted by European governments BEV’s will cost similar to that of their ICE counterparts. If the likes of Renault think they can hold on to their pricing strategy, there very much mistaken.
The fact that the EU have recently stepped back on the ICE ban will have an effect here, regardless what our government has said with their rehotric, after all you have only got to look at where are biggest market share of vehicles come from. Soon after the EU’s pushback date announcemet, our government have effectively brought forward the date, telling automakers selling in the UK, will be required to sell increasing percentages of zero-emissions vehicles every year from 2024. The government will then backtrack on this as we get closer to the initiall date as manufcturers are unlikely to conform to what the UK alone wants.
Come 2028/29 if the UK hasn’t pushed back the date, manufacturers will sell off their remaining ICE vehicles at discounted prices. Those that do very little mileage or only spend £3k in fuel over x years, the temptation will be too high not to resist buying, especially if a BEV counterpart is near £10k or more to buy.
Even when the end comes on buying a new ICE vehicle, they will continue to be on our roads for some time to come. So your point “they are obsolete as steam locomotion and prices are not important.” is rather premature!
Seems to be mixed messages because Tesla model Y is currently heading to be the highest selling car in the world not only in comparison with other BEVs but also ICE cars.
CATL who supply Tesla batteries have announced they are going to mass produce a battery that will have a range of 621 miles. The Qilin which seems to be based on an improved version of the Tesla battery has greater density than existing batteries and is due to be in full production in the next few months.
The fact is that like it or not BEVs are the technology of the sustainable future that we all need to embrace. I’m certainly not a technical expert and don’t pretend to be but I recognise the difference between old and new technology.
Wigwam said in 2019 that EVs would “never catch on”. Admittedly with the power of hindsight I beg to differ.
I do think that there will be incentives to switch to sustainable energy that will lead to ICE vehicles being viewed rather like steam engines are now, with a warm feeling of nostalgia but the realisation it’s time has passed.
CATL who supply Tesla batteries
CATL will also supply batteries to Mercedes for their EQ range and will also supply BMW from 2025. Stellantis group will use CATL LFP batteries. Likewise BYD also supply its Blade batteries for the Tesla inc the model Y and other leafing European manufacturers.
Both CATL and BYD hold the top two spots for the largest producers of BEV batteries and are both leading manufacturers in the electric bus industry in both the EU and here in the UK. CATL is building gigafactorys in Europe.
I guess every European EV will have a bit of China whether we like it or not!
(Reuters) – Electric car giant Tesla’s decision to cut prices to drive up sales volume reflects the pressure it faces from competition and an ageing product line-up, Ford Chief Executive Jim Farley said on Thursday.
Farley said Tesla’s price cuts underscore intense competition in the two-row crossover or SUV segment of the auto market, where Tesla’s best-selling Model Y faces a range of newer rivals in China and other markets.
Ford, he said, would focus on less-crowded segments like pickup trucks and vans.
But Tesla’s ability to adjust prices quickly, and its “reductive” focus on squeezing costs out is a competitive advantage, and other automakers would have to follow its lead in cutting prices, Farley said.
Tesla’s share price dropped almost 10% on Thursday, cutting more than $50 billion from its market value, after Musk said the company would discount as needed to drive up demand.
“Honestly, anyone surprised at this, I don’t understand,” Farley told reporters, speaking on the sidelines of a charity event on Thursday evening in Detroit.
“You have to be able to respond quickly” to Tesla’s strategy, he said. “That agility he’s building is super important for everyone.”
Farley said Ford was moving quickly to have a second-generation electric vehicle (EV) ready since the pace of product overhauls is happening far faster pace with EVs than with other cars.
“We used to think we would have a model year,” Farley said. “Now with Model e, four times a year we have a model year,” he said in reference to the pace of change for electric vehicles.
Tesla is readying a new version of the Model Y, code-named Juniper, but has not disclosed details. Since January, Tesla has cut the price of the long-range version of the Model Y by $13,000 in the U.S. market.
Although Tesla pushes frequent software updates to customers, the Model Y has not had a major, visible redesign since its first deliveries in 2020.
“I think what he’s going to learn is that product freshness matters a lot,” Farley said of Musk.
Ford’s own history has a cautionary note for Musk, who appears to be modeling the Tesla playbook on what Henry Ford did, Farley said.
Ford drove down costs for the Model T and created a mass market with production innovation. But it failed to respond to customer demands and new competition, with Henry Ford famously insisting the only color available would be black.
“You could have had red or green, but it took them 10 years,” Farley said.
Ford cars only being available in black was because black enamel was the only paint available in those days that dried quickly enough.
The EU have only stepped back due to their masters in Germany and supported by Italy, refused to sign the agreement for 2035, typical when it effects them. The compromise is the so called synthetic fuel, which will cost more than current synthetic fuels, is just a stop gap to allow Germany and even more so Stellantis, to catch up in battery development.
these cones a tine when the sales into Europe pale to sales in other worldwide markets in terms of volume, with the USA removing the small volume exemption so that all manufacturers have to go electric.
Ford have given up on saloon cars in the USA, becoming a truck and suv supplier, leaving saloons to Hyundai and Kia
so Stellantis, to catch up in battery development.
If you have a quick read my post in reply to Daf 🙂
There are no ICE counterparts, as they are obsolete as steam locomotion.
It is very accurate and the autotrader article is nothing more than counting page visits, it is nonsense.
I guess peopel dont understand economics and supply\demand.
As Diesel and petrol sales decline, it will become more expensive. I guess what most do not understand is that ICE are being outlawed. Even if you have one you will NOT be able to use it.
The other point is – you will NOT be able to buy diesel or petrol. What you shold be worried about is how the Govt’s are going to make up for the lost tax in fuel sales. You only need to look at the cars on Motability, very few are diesels and the petrol variants are going as well.
Ina a few years petrol stations will close as they become uneconimic. No one will want to own an ICE car, unless they are a collector and hide them in barns.
At the end of the decade, my statement still hold true….ICE vehicles are going the way of steam locomotion.
No newspaper articles or rubbish magazine page counts is going make the slightest difference.
It is coming whether you like it or not.
But, thanks ot Musk – we may have a Tesla on motability soon….
I don’t think we will ever see Tesla on the scheme, I hope I’m wrong,Mobutu one of the issues with Teslas are the insurance costs, which due to the way Tesla build their cars repair costs are very high
Electrifying web site has an article on this, but as the forum has it locked down I can’t post? I hope they significantly improve usability before they’re allowed anywhere near the scheme.
Source: I had one for a bit, it was not good.
"Come on BYD Seal!"Here’s why prices are falling.
Have you heard of the 10 new electric car companies coming to the UK?
Story in motoring section of Mailonline.
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