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Thursday, February 2, 2023

The used car bubble has burst in America. And Tesla is suffering the most from this.

The used car market has gone completely mad. it’s something that I’ve been able to verify firsthand but it has Tesla to its most volatile asset, Its price rising and falling is a thermometer of the health of the company and the market in general. And the bubble has burst in the United States.

On the other side of the pond, Tesla prices are up with very little usage plummeting, Until recently, waiting times for autographs were so high that prices for used cars with zero kilometers were skyrocketing. Now, its decline is evident and the used market price in the United States fell 4% between July and November, with Tesla’s price falling 17%.

Not only that, the amount of time a car spends on a farm before being sold again in the United States is increasing from an average of 38 to 50 days. In Motor.es they point out that some of these models have been on sale until 104 days And that their prices have dropped so much that they are again below the cost of a new model.

The situation is changing in Spain as well. In August, an additional payment of up to 11,000 euros was made for some zero kilometer models, which guaranteed immediate delivery compared to waiting times, which could reach up to six months. A walk through the buy and sell portals confirms that prices have been adjusted, although it is still easy to find models that are more expensive than new.

severe adjustment in demand

Tesla is not going through its best moment. At least in the image, as it had never built and delivered so many vehicles. Despite this the Shares continue to fall Elon Musk is selling huge packages of shares to add more than $40,000 million in sales.

The problem for Tesla is that demand appears to be adjusting. Without a doubt, it looks like a part of the reservations for its electric vehicles were being made, just to speculate, as has been the case with other brands as well. And maybe that’s where the cancellation part of your reservation comes from.

however, some analysts He says Tesla is only facing a recovery in demand. The situation is being addressed with incentives of up to $7,500 to keep reserves, something Tesla has vowed not to do.

The question is whether the situation Tesla is experiencing is temporary and if its lack of demand is in line with other market prices, with increased interest rates and therefore lower vehicle sales. Or, on the contrary, the company is suffering from the arrival of new players in the market, with products that are closer to software and that cause them to lose their aura of exclusivity.

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World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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