Used Mach E pricing dropped (Carvana)

[BluePony]

Tesla just cut prices across the board. MY that used to be $67k is now < $55k (and you can take the tax credit if you qualify pushing it to ~$47k for LR AWD). Used Tesla's are now going for more than in-stock new.

Your move Ford I guess now.

Carvana going to take a massive loss on used Tesla inventory.

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[Nemy]

With Tesla's price drop, I guess the pandemic is officially over. Vroom is giving a 11k difference from two weeks ago.

 

[voxel]

With Tesla's price drop, I guess the pandemic is officially over. Vroom is giving a 11k difference from two weeks ago.

I’ve been looking at trading in my MME for a Bronco (Ford Off-Roadeo event has turned me into a fanboy) and Ford dealers are telling me they are struggling to sell used MMEs. They have overpaid for inventory and can’t sell it.

I had a deal to buy a used Bronco from a private party brokered through my local Ford dealer but they balked at buying my MME at the very last minute.

 

[SWO]

my friend took his Mach E to Carmax last week, they told him they are not buying that model at this moment.

Wow.

 

[Shelbeast]

Stealerships prob. looking for another bailout.

 

[blkadr08]

Yes, this is happening across the board. Used car prices were artificially high, and now they're correcting.

Exactly.

 

[Nemy]

Exactly.

Yes and no. I think we're in a period of over-correction. Pandemic or not, my 2022 with 8000 miles should not be down $17k (31%) two weeks into the new model year.

 

[blkadr08]

Yes and no. I think we're in a period of over-correction. Pandemic or not, my 2022 with 8000 miles should not be down $17k (31%) two weeks into the new model year.

You’re right. price/value fluctuations can vary widely, particularly if they are in reaction to the kind of overheated market we have seen lately.

The pandemic, interest rates, production and supply increases and the exploding EV market are all impacting MME values.

With a few exception, cars are not good investments.

 

[mjs020294]

Yes and no. I think we're in a period of over-correction. Pandemic or not, my 2022 with 8000 miles should not be down $17k (31%) two weeks into the new model year.

Actually that is very close to the expected depreciation on new cars per-pandemic. A 50% drop in the first two years was not uncommon for luxury and higher priced vehicles. Remember in a normal car market you could get 5-10% off MSRP on a new car.

Imagine the depreciation if you spent $10k on ADM 3-4 months ago.

 

[RockwallRick]

By the way, Vroom thinks my 6-month old 2022 premium ER AWD with 3,000 miles is worth $39k.

WOW!! A couple months ago they offered us $49.4K for our 21 premium 4X with 12k miles on it!

 

[RobbertPatrison]

A new Model Y LR dual motor used to sell for $65600 before yesterday's price drop. Today it sells for $46,500 (with the tax break), a drop of a whopping $19K. It is comparable to a California Route 1 AWD extended range (MSRP $63,600), that now looks very overpriced.

This means that all used MMEs will drop in value by many thousands (at least $10K), and that the MME at MSRP is suddenly unsellable. As low as it seems, $39K will probably be the going rate for a used MME Premium once Carvana and Vroom have processed yesterday's bombshell.

 

[BluePony]

A new Model Y LR dual motor used to sell for $65600 before yesterday's price drop. Today it sells for $46,500 (with the tax break), a drop of a whopping $19K. It is comparable to a California Route 1 AWD extended range (MSRP $63,600), that now looks very overpriced.

This means that all used MMEs will drop in value by many thousands (at least $10K), and that the MME at MSRP is suddenly unsellable. As low as it seems, $39K will probably be the going rate for a used MME Premium once Carvana and Vroom have processed yesterday's bombshell.

Not every one will qualify for the tax credit, so its not a given. Depends on the household income. Or if they retirees who won't even have $7500 in tax liability to take full advantage of.

 

[Chainspell]

Carvana has serious problems going on.

I sold my 2021 Premium 4X two weeks ago. Pick the outlier from my offers:
Carmax: $45,000
KBB: $43,000
Vroom: $42,000
My dealer: $42,000
Carvana: $32,000

 

[tdmeng]

Caravan has serious problems going on.

I sold my 2021 Premium 4X two weeks ago. Pick the outlier from my offers:
Carmax: $45,000
KBB: $43,000
Vroom: $42,000
My dealer: $42,000
Carvana: $32,000

Carvana had insider information about the upcoming Tesla price drop (I think poor financials meant they really couldn't afford to purchase additional inventory)

 

[Say Watt]

https://www.wsj.com/articles/carvan...g5p9yywtaq4&reflink=desktopwebshare_permalink

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