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Tesla Model 3 and Y price increases, long lead times and the new& used EV car market demand.



#tesla #model3 #modely

Today Tesla increased the price of its new vehicles in the UK. Cheapest Model 3 is now £48,490 which is up from the £40,000 that it used to be.

Lead times are also showing that a new one ordered now could take a year to arrive! (April to June 2023)

Model Y also now increased and starting from £57,990 with a lead time end of 2022

How does this now compare to other EVs in the market and what are the knock-on effects to used car residuals?

They’re certainly cheap to own but buying them is getting more and more expensive!

Will PCP and lease prices drop as a result of the unprecedented residual values?

Here I just have a little chat through it all to share my thoughts… all unscripted as usual..

Thanks for watching!

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38 Comments

  1. Like what i saw in other FB group, the prices of Tesla cars are more like a Ponzi scheme than the actual cost and value of the car. In order to sell more cars, they need to "[email protected] the price and like any Ponzi scheme, they more people bought into it, the more they can increase the price 🙂

  2. The Q4 just went up 5000 Euro’s in my country. The Tesla went up a lot. Officially the BMW i4 didn’t go up a lot officially, but in reality it went up 27% since everyone leases them. An i4 in my country is a disaster to get. Order now, get one in februari 2024. And our company dealer charges 10000 Euro over a new one on a i4 with 12000km.
    I have to lease a new company car and they all went up around 20%. In my budget I went from a BMW iX3 to a VW ID.3.

  3. Tesla taking the pee with a price rise that size hope nobody buys their cars. Taking people for mugs absolutely shocking

  4. I've been wondering what the difference in mpg price is to electricity price 🤔

  5. Are lead times, price increases and demand similar for ICE cars, or are EVs exceptional?

  6. I’m glad I ordered my model Y in March . I collect it next week as the ship is unloading just now at Southampton. Looking forward to it

  7. This isn’t the way to persuade people to move to EVs. But it appears that Tesla are forgetting their vision for saving the planet and have decided to be just another premium luxury car manufacturer. It looks like we’ll have to look to the Chinese manufacturers to bring electric to the average person.

  8. £2.00 lite petrol will help, I bought my m3p for the fun performance still lovin my blue lightening, home charging is fantastic, I would be on first name terms with the petrol station manager if still had my Audi tt.

  9. I ordered a M3 LR in Feb for 51k. As I'm still waiting for it will Tesla expect me to pay the new increased price? 😬

  10. Yes some costs have risen but I think you'll find that it's not as much as the price of the cars. Tesla can't maintain sales volume because of supply chain issues so they increase margin to maintain profit for shareholders. And they get away with it because there is such a strong demand for their cars. This is an example of revenues rising but sales volumes falling. All car manufacturers have raised their prices and pcp deals have been the enabler. BUT as interest rates start to rise they will find it difficult to shift these expensive cars.

  11. I remember when Elon and the motoring press said loudly that the model 3 would be £25k. Pricing should reflect cost plus margin NOT be elevated just because demand rises. Tesla makes plenty of money it doesn't need to keep bumping up prices just because demand is rising. At some point the competition will catch up in terms of battery tech etc and Tesla will have to up their game in terms of quality if they want to keep their premium car prices.

  12. Tesla model 3 was meant to be a 35k family 🚗 car
    Tesla are taking the piss now 😤
    What happened to the model 2 25k car what average family 👪 can afford 50k for a Ev car

  13. Tesla models will always be more in demand due to their charging infrastructure and software… No range anxiety due to reliable charging stations.
    Elon will keep teasing the other companies by continuing to increase their prices, mostly due to the availability of raw materials and research. But I wonder how many are going to be caught off guard when the world "normalises" and Tesla can not only ramp up production to remove waiting lists but, slash prices, making them affordable to the masses in order to achieve a low carbon footprint.

  14. Such a shame. Ive recently started a new job after redundancy this year and doing something completely different as vehicle condition appraisal/inspector/collection and delivery driver. The last week have driven 2 electric cars, 1 Peugeot 2008 and yesterday a long range model 3. I’ve test driven the model 3 before but this was a longer journey. I was stunned at the efficiency in comparison to the Peugeot. Over a 150 mile journey, mostly motorway at 70 with whatever I needed on, it averaged 224 wh/mile. I know from yours and other videos that they were ahead by a long way but I was astounded! Now they are getting harder to get…….

  15. I ordered my Model Y back in Feb of this year getting it next week and looks like Im saving over £3K on the new price, so well happy that I had ordered it early. I have upgraded the Colour and the Wheels but kept the interior to standard black.

  16. Awesome vlog as usual Richard. Picking up my Model Y on Thurs so very pleased I put an order in October last year! 😀

  17. Prices for EVs will continue to rise until the Chinese start exporting to Europe in quantity. At that point prices will start to come down, but this will deal a fatal blow to the legacy automakers who barely make any profit on electric cars. Tesla, however are already making at least 30% gross profit, which will only increase as they ramp up production and reap economies of scale. Only bailouts from Governments can delay the inevitable.

  18. I have a 2020 Model 3 SR+ and I would really like a tow hitch fitted, but they tell me it has to be factory fitted. Can your company help with this?

  19. My RWD model 3 all standard apart from white seats, has gone up £5500 compared to when I bought it in March.

  20. The Chinese are coming to fill the gap between supply and demand – IMHO that's inevitable. The only car makers I see surviving to the end of the decade (other than many Chinese offerings) are Tesla and maybe VW (although that's debatable – too many stranded assets for investors to lose IMO). Like to see more on this over the coming months.

  21. Ordered my M3 RWD back in May and was on the fence whether I should go through with it… now it’s even more convincing to keep going from my 2012 VW Scirocco! (140 miles round commute to London)

  22. Great video by Richard as usual, so glad I got my m3 performance brand new last year, red with white interior, absolutely love this car, drove from Milton Keynes to Bournemouth and back and my app showed total cost for the journey both ways was £5.55 in electricity… 😀 never looked back !

  23. The wait is why I purchased a 20 week old 2022 Model 3, LFP with the exact spec I was going to order new. Drove it the same day I paid for it and saved £4k AND the year wait !

  24. £48,490 is a lot for the base Model 3. It’s a great EV but there are lots of good options below that price point

  25. Sadly Even with me following Tesla from 2010 and all their developments. I mean I listen to Tesla news podcasts and utube clips like here on EV. I thought the model 3 would magically hit around £32-35k that dream is disappearing at a rate of knots. Just too expensive for me near on 50k for the cheapest is now never happening for me. 40k was a push. I know we live in strange times. I bought my daily split new factory ordered to my spec because it was my last ICE Car purchased 2014 to keep longer till EV’s matured and what I was always told price decreasing. So unless there is a incredible drop in the cost of battery packs for the manufacturer I could see me keep my daily for another four years as it’s on very low mileage.

  26. Getting a Model Y in a couple of weeks. Also test drove Polestar, EV6 and Ioniq 5. I was treated much better by the sales people there than when I tested the Tesla, who were borderline rude. When supply issues ease and charging is better I do wonder if Tesla will have to look at the sales experience, especially if the price differential continues to widen.

  27. Placed an order for a m3LR in blue/blk/18” in late November 21 one week after the price went up £1k. For various reasons I get it on the 29th this month. It’s now £7.5k more than I’m paying. Great for me but won’t flip it, I want it too much!

  28. Well Tesla have priced me out of there cars, I could never afford one anyway, to pay more than £400pm via pcp on a new car is ridiculous to be honest.

  29. I’ve followed your channel from the start – thanks to CarWow! Great informative content. You deserve a higher subscriber count.

    I’m also a M3 Performance convert thanks to the content.

  30. Supply/demand but wonder if it's also to do with the huge increase in asset prices over recent years. With interest rates rising, cost of living, possible recession which seems unavoidable at this point, popularity of leasing which may not be so popular in some scenario's, it'll be interesting how the market plays out over the next few years.
    Cars are usually depreciating assets with a limited life before becoming beyond economical repair.
    I like the Tesla tech but person opinion, at that price I'd rather buy from a more premium competitor. And some have a dealer in every decent sized city or even town, unlike Tesla, which might be an issue in future given their huge car sales atm.

  31. Both the Model 3 and Model Y are excellent cars and having had a 3 and now a Y I would recommend to anybody….however when you look at the latest pricing structure for the Model 3 long range at £57490 and the Model Y long range at £57990 it would on the face of it now make the Model 3 look poor value for money against the Y or at least is Tesla pushing people to buy a Y over a 3? Another analyst who I listened to yesterday looking at Tesla has suggested they are forward projecting their car building and delivery times and profits over the next 12 months and future predicting costs so as not to loose that profit as a result of inflation. Tesla is unlike a lot of other manufacturers who lock you into a car buying price when you place your deposit so if you put a deposit down in Christmas 2021 for a Model Y long range at £54990 and you don't get it till Christmas 2023 you still pay £54990. The likes of Ford etc dont do that and if the car goes up in price before you get it you pay the higher price. In effect Tesla are probably looking at when you will likely get the cars and are now reflecting the future pricing of such cars. Therefore as the Model 3 has now a year wait for delivery compared to 3 months up to Xmas 2021 you can kind of see why they are hiking the prices to reflect the likely price market in April or May 2023. The Model Y doesn't have such a long wait time and therefore the prices are not going up as steeply and that is good if you are looking to buy a Y but greater demand and delivery times will likely see more price rises coming sooner rather than later.

  32. I ordered my standard range model 3 in December 21 for 42,990 but still waiting for it to be delivered ?

  33. We have a Q4 E-Tron 40 and it’s great. At the time we ordered it was about the same price (on salary sacrifice) as a base M3 but we needed a hatchback for the dogs. MY was gonna be significantly more expensive. If I had the funds I would definitely take the MY over a higher spec Q4 50

  34. Interesting. I’ve had a model3 performance ordered since February. It was due in May but I’ve now been notified it’s expected in September 🙄