Used EV Prices Plummet 32% As Tesla Price Cuts Hit Industry
A series of aggressive price cuts caused the value of used Teslas to fall 28.9%.
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Tesla’s Aggressive Price Cuts Hit The Used EV Market
highlight: The average price of used cars has fallen by 3.6%, but the price of used EVs has fallen by 31.8% compared to last year. Used car prices are consistently 2-7% lower than last year, suggesting that inflation is not having an impact on used cars. Source: www.iseecars.com
Tesla’s Aggressive Price Cuts Hit The Used EV Market – Queen City News
(iSeeCars) – The average price of used cars has fallen by 3.6%, but the price of used EVs has fallen by 31.8% compared to last year. Used car prices have consistently been 2-7% lower than last year, suggesting that inflation has not affected used car prices. Used EV… Source: www.qcnews.com
The EV Maker Is Writing Checks To Leasing Companies To Compensate, As Tesla’s Price Cuts Have Reduced The Value Of Its Cars So Much.
ibensTim Alversen, CEO of the largest multi-brand leasing company, said he has already received checks in recent weeks to help offset the weak prices. Leasing companies are demanding concessions from EV manufacturers, including buyback agreements. Source: fortune.com
Front-wheel Drive 2024 Lexus RZ300e Cuts Costs And Goes Further
The 2024 Lexus RZ lineup expands with the addition of a front-wheel-drive version that is cheaper than the existing all-wheel-drive version. The new RZ300e starts at $55,150, which is $4,700 less than the RZ450e. FWD delivers an EPA-estimated range of up to 466 miles (46 miles more than AWD). The ’24 Lexus RZ300e features a 72.8 kWh battery pack that Read More
Tesla Cuts Prices On New And Used Cars By More Than $3,000 (again)
Electric car maker breaks down pricing for Model 3, Model Y, Model S, and Model X … Source: Car Scoops
Polestar Cuts Delivery Times And Profit Margins Even As Revenue And Sales Increase
The company says, “The slump in global consumer demand is having a particular impact on the EV penetration rate.” Polestar’s third-quarter results revealed difficult market conditions, forcing the company to cut its planned electric vehicle deliveries in 2023 to about 60,000 units. Formerly Polestar… Source: insideevs.com
Tesla Price Cuts, Repair Costs Impact Profits, Hertz Delays EV Plans
“The introduction of EVs will be slower than previously anticipated,” Hertz CEO Stephen Sher said during the company’s third-quarter earnings conference. at 5:05pm ET Last week, General Motors and Ford announced they would delay spending on electric vehicles, citing slowing demand for BEVs and the EV price war started by Tesla. Source: insideevs.com