Some Tesla Owners Saw The Value Of Their Vehicles Drop By Almost $100,000

Some Tesla Owners Saw The Value Of Their Vehicles Drop By Almost $100,000


Photo by John Cameron on Unsplash

When Tesla announced its plans to slash the prices of eight of its vehicle models, it caused an uproar. Of course, potential Tesla buyers are excited about the discount. But current Tesla owners are outraged, so much so some of them are protesting.

“Tesla’s price cuts have been so significant in some regions that it devaluated some recently purchased vehicles by over 40% and it pushed some owners to literally organize protests,” Electrek reported.

The reason some owners are upset is because the value of their EVs actually decreases by $100,000, causing Tesla protests overseas.

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Tesla announced that it was finally selling a long-promised $35,000 Model 3. In addition to that price reduction, the company also cut the starting prices of its Model S and Model X vehicles by $12,000 to $18,000, and other versions of the vehicles saw their prices decrease by up to $18,000,” Futurism reported.

The price reductions were higher in the overseas market.

“In some markets, the higher-end versions of Model S and Model X have seen overnight price reductions of over $30,000. One of those markets is Taiwan, where the price of a Model S P100D was cut almost in half by Tesla’s latest price changes – resulting in about $100,000 in savings,” Electrek reported.

Those protesting by posted banners that call out the new prices at Tesla’s stores, others actually protested physically at the company’s Supercharger stations.

According to Tesla, the targeted price reductions were done as a shift to online sales which will result in cost savings.