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Further to @montana_skeptic recent reporting on $TSLA used car prices, RVG and weird $CVNA listings, I did some further digging on the situation in Switzerland (CH). https://mobile.twitter.com/montana_skeptic/status/1252666047594979328
As I reported, last summer $TSLA was offering higher trade-in $ for my S85D than I could get on Autoscout 24 . ch, the biggest used car portal.
That was expected as new car in 2015 came with RVG. But RVG was not honoured as I switched brands.
That was expected as new car in 2015 came with RVG. But RVG was not honoured as I switched brands.
Rather than checking legal aspects of RVG I got rid of my S85D quickly on autoscout, and observed quite good price elasticity on that portal.
Since I started checking two years ago, comparable used $TSLA cars were always cheaper on Autoscout than on Tesla website.
Since I started checking two years ago, comparable used $TSLA cars were always cheaper on Autoscout than on Tesla website.
But couple of weeks ago I noticed that $TSLA started to seriously *undercut* prices for comparables on Autoscout!
There are ca. 120 S / 40 X on Autoscout vs 36 S / 8 X on Tesla com. Price differential ca. 4kCHF ifo Tesla.
Note: 1 USD buys = 0.97 CHF, prices include 7.7% VAT.
There are ca. 120 S / 40 X on Autoscout vs 36 S / 8 X on Tesla com. Price differential ca. 4kCHF ifo Tesla.
Note: 1 USD buys = 0.97 CHF, prices include 7.7% VAT.
Price differential quite consistent over year of mft, trim, mileage.
Bigger difference for X than for S,
Bigger difference for more recent models.
Bigger difference for X than for S,
Bigger difference for more recent models.
As expected in competitive environment, prices on Autoscout start converging to Tesla's lower prices.
Over last 10 days tesla dropped priced 300 to 600 CHF depending on model, while Autoscout listed car prices dropped by up to 2000 CHF over same period.
Over last 10 days tesla dropped priced 300 to 600 CHF depending on model, while Autoscout listed car prices dropped by up to 2000 CHF over same period.
Is this CH situation opposite of what @montana_skeptic found in US? After all in US the used car platform has the higher prices, while in the CH it has the lower prices.
If we suppose attempt to dress up balance sheet then the observations are exactly what you would expect:
If we suppose attempt to dress up balance sheet then the observations are exactly what you would expect:
In US, a deal with CVNA favors price inflation as TSLA can then show higher AR, which is easier and less damaging for BS than actually selling down inventory.
In CH, in absence of any deal, all TSLA can do is reduce inventory. So they need to undercut the used car dealers.
In CH, in absence of any deal, all TSLA can do is reduce inventory. So they need to undercut the used car dealers.
In CH, TSLA seems to be incentivizing current S / X owners to switch to model 3. That way they can make margin on the trade-in AND the new car.
TSLA inventory seems to have higher turnover than Autoscout inventory.
TSLA inventory seems to have higher turnover than Autoscout inventory.
Will need more data points over next weeks to show price dynamics over time for comparable models.
I follow highest and lowest priced car for each model, each year, each motor version. Will be able to monitor how long each sampled car remains on offer.
I follow highest and lowest priced car for each model, each year, each motor version. Will be able to monitor how long each sampled car remains on offer.
e.g. sample of 34 model S out of total 123 on Autoscout, sample of 13 model S out of 35 total on Tesla site.
Similar sample for model X.
Can share my work if you want to check for trends yourself (and perhaps graph it better than I can).
Similar sample for model X.
Can share my work if you want to check for trends yourself (and perhaps graph it better than I can).
