When Tesla cuts prices, as it did this week, buyers looking for electric vehicles generally benefit. But it’s true for anyone who buys a Tesla First Frustration over such price cuts can be intense. After all, waiting a little longer to buy could have saved them a lot of money—but they had no way of knowing.
One risk for Elon Musk’s carmaker, which has repeatedly cut prices of its high-end models this year, is that existing customers will feel resentful – not to mention their vehicle value will drop – While some buyers are hesitant to buy as another price cut may be right around the corner.
After the carmaker made the latest price cut on Thursday, new Tesla owners expressed their frustration on social media, often addressing Musk in posts on X (formerly Twitter), the social network he owns.
One do Posted on Friday, it reads: “Tesla treats people so poorly when they drop the price by $20k+. I just picked up my Model S Plaid the day before, put less than 100 miles on it and I lost over $20,000. Tesla never again.”
Tesla then dramatically slashed the price of the plaid versions of its Model X SUV and Model S sedan to around $18,500. The carmaker has also made a significant cut in the prices of the rest of its X and S range. Buyers can now get a Model S at a base price of $74,990 and a Model X for $79,990 – which are $3,500 and $8,500 less, respectively, than the week before. Also, the carmaker has decided to no longer charge extra for certain paint colours.
So a customer who bought the plaid version of any model with an extra-cost paint color on Monday is in all likelihood going to be pissed off by Friday—or sooner when they learn about the reduction.
Tesla “will lose some loyalty”
One wrote, “These huge unexpected price cuts are definitely not fair to anyone who has recently purchased a Tesla vehicle.” do Posted on Friday.
A answer On it is written on Friday: “I just bought s (today), but I agree, a lot of crap, they’re going to lose some loyalty.”
Those who bought either model at the beginning of the year are also disappointed. Then, a Model S started at $104,990 and an X at $120,990. Such customers are now seeing those same cars selling for $30,000 and $41,000 less, respectively.
Anyone looking to sell an old Tesla is certainly feeling elated by the price cut.
Some customers have called on Musk to give them something of value to make up for the disappointment. One do Posted on Friday and addressed to the billionaire CEO, it reads: “Thanks to the price cut, my Model S with less than 2k miles costs $25k less than what I paid earlier this year , and the plaid is only $6k more. At least release the track/power upgrade so I don’t feel like it was all a complete hoax!”
Another customer asked Musk, referring to Enhanced Autopilot, “Can Model S&X owners who pick up within a week of the price cut get a free EAP upgrade? It would be really nice to be able to change lanes without detaching the AP. That customer claimed he bought a Model S earlier this week wrote: “How can you do that to your loyal customers.”
Another post is also addressed to Musk reads: “model
Tesla buyers are feeling “duped” again
another customer wrote: “I feel completely cheated. I just bought a Model S LR 60 days ago for $90,000, now the plaid is cheaper than what I paid. I could get FSD and longer range for cheaper. My property value dropped 20k.
Yet this is probably the first time Tesla owners have felt “duped” by falling prices. In January, customers made similar complaints after a dramatic cut in prices. A self-described “Tesla fan girl” told Bloomberg after the price cut on the Model Y she just bought: “I feel like I’ve been cheated. I feel like a consumer.” I was taken advantage of. Right from the start, I’m out $13,306. This is such a huge cut that it will affect many people who just bought a vehicle.”
Tesla also this week slashed the price of its full self-driving (FSD) software from $15,000 to $12,000. In 2019, Musk suggested that customers buying a Tesla with FSD are “buying an appreciable asset” thanks to this feature. He Tweeted“If we build all cars with the FSD package self-driving, as planned, any such Tesla should cost $100k to $200k, as utility ranges from ~12 hours/week to ~60 hours/week.” Extends by the week.”
Tesla owners who bought their Model X or S earlier this week can’t be blamed for doubting it.
Luck TechCrunch reached out to Tesla but did not get an immediate response.
This story originally appeared on Fortune.com
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