The average transaction price of a Tesla has fallen by 19.5 percent over the last 12 months.
That is still considered an over supply if the prices are too high for the market they are trying to sell into. They’ve reached saturation for the early adopters and tech enthusiasts and now the normies are saying not so fast on the high average selling prices. I think it’s wonderful and we get watching economic theories in action right before our very eyes.
Auto mfg execs are going to be crapping in their drawers when the realize they can’t keep selling massive vehicles for massive profits. It might get ugly folks.
You know it’s funny, I’ve read that the new car market in the US is exclusively market towards upper middle class and above buyers who are child free couples in the 55+ age group.
Apparently everybody else in the country is supposed to buy a used car.
That kind of fucks the whole “Let’s switch to EVs now” plan.
I can’t or won’t disagree with you and I’ll agree that it certainly delays the transition to EV’s until a robust used market develops.
Arguably that market is developing as we type. Check any used car site and you’ll see dozens of used EV’s. The prices are still too high imho, but they will keep coming down.
