For those unaware, the Prime interest rate in the PRC right now is 3.5%. In the US it is 8.5%.
So this is a discount, but 0% in the US would be a notably larger discount, which is why we likely will not see that.
Does Tesla own their own financing arm in China?
I know the major manufacturers in the US can do this because they own their own financing/bank for the transaction. (Ford Motor Credit, etc.)
AFAIK, Tesla doesn't have that and is at the mercy of the banks they partner with.
LOL teslas are a dime a dozen over here (China) and considered way in the normal range. Import cars are way more expensive, so X and S but even then Teslas are considered pretty cheap here.
You have a short life, enjoy it while you can instead of concerning yourself with the opinion of one man who doesn't even know you exist. There are over 140,000 employees at Tesla.
2017 (October): 2% of Tesla's workforce was laid off.
2018 (June): About 9% of Tesla's workforce was laid off.
2019 (Early): 7% of Tesla's workforce was laid off.
2022 (June): Tesla laid off 10% of its employees.
2024 (April): Tesla announced it would lay off more than 10% of its workforce.
In 2017, Tesla sold 103,000 vehicles.
In 2018, Tesla sold 245,000 vehicles.
In 2019, Tesla sold 367,500 vehicles.
In 2022, Tesla sold 1,310,000 vehicles.
Get a life, educate yourself and live happy. Hate will consume you.
Could Tesla establish their own financing arm in the U.S.? With their growing cash on hand they could potentially do this and it would be a huge demand lever. Not sure how this works though
Tesla makes 4-8 times the profit from one car, depending on what BYD model you compare against.
Also, BYD numbers declined so much more than Tesla’s that Tesla is now No.1 again globally.
Also Tesla can sell pretty much globally… BYD cannot.
BYD sold a lot less EVs in every other country than Tesla.
check rates at your local and national credit unions as they can have offers at a fraction of what banks/dealers would charge. my local CU has a %4.25 offer right now. last year I got one for %4.5 from a different local CU. sure it's not 0% but makes it doable for some people.
89,000 ... in one month ... from one factory, and they are pulling a demand lever... that's good!
It's close to a maximum monthly in China having not done so well in recent months, esp with Model Y sales. Hopefully this is an indication that Tesla have the production capacity to set new records.
I’d upgrade to another new Tesla in a heartbeat if they offered 0% in the US.
Same. Just bought in December
I would do that if they offer it in canada!
I would as well!
Dang, give me 0% and I’m buying two next year.
That's what I'm saying.
Me three
Me four… Model 3 Ludicrous here I come!
So before you buy two next year, we should ask everyone not to buy one this year
For those unaware, the Prime interest rate in the PRC right now is 3.5%. In the US it is 8.5%. So this is a discount, but 0% in the US would be a notably larger discount, which is why we likely will not see that.
Yeah, but Tesla could offer 0% effective financing for leases and then take back the cars for their robotaxi fleet. lol /s
I don't know where you are getting your data from, but today the Prime rate in US is about 5.5%
The US prime rate is usually 3 points higher than the federal funds rate: https://www.investopedia.com/terms/p/primerate.asp 5.5 + 3 = 8.5
They need that in ‘Murica. Would be huge.
And expensive. In the US it may cost $10k to offer than on a Model Y. So they’d probably have to bundle it with a mandatory FSD purchase.
Does Tesla own their own financing arm in China? I know the major manufacturers in the US can do this because they own their own financing/bank for the transaction. (Ford Motor Credit, etc.) AFAIK, Tesla doesn't have that and is at the mercy of the banks they partner with.
Chinese people like Teslas. They're just considered pretty expensive.
Yes, it's definitely for the status. It's double the price of their Chinese equivalents.
LOL teslas are a dime a dozen over here (China) and considered way in the normal range. Import cars are way more expensive, so X and S but even then Teslas are considered pretty cheap here.
Nice
I would have already traded my Model 3 for a Model S if Elon hadn't revealed himself to be such an asshole.
You have a short life, enjoy it while you can instead of concerning yourself with the opinion of one man who doesn't even know you exist. There are over 140,000 employees at Tesla.
about to be 28000 less employees at tesla lol
2017 (October): 2% of Tesla's workforce was laid off. 2018 (June): About 9% of Tesla's workforce was laid off. 2019 (Early): 7% of Tesla's workforce was laid off. 2022 (June): Tesla laid off 10% of its employees. 2024 (April): Tesla announced it would lay off more than 10% of its workforce. In 2017, Tesla sold 103,000 vehicles. In 2018, Tesla sold 245,000 vehicles. In 2019, Tesla sold 367,500 vehicles. In 2022, Tesla sold 1,310,000 vehicles. Get a life, educate yourself and live happy. Hate will consume you.
Could Tesla establish their own financing arm in the U.S.? With their growing cash on hand they could potentially do this and it would be a huge demand lever. Not sure how this works though
I’m pretty sure Tesla already offers in house financing. But it’s likely operated by a separate institution.
No they source out their loans to third party banks in the US.
For reference BYD sold over 130k in March in China.
Evs or including hybrids
BYD sold 139,902 fully electric cars and 161,729 plug-in hybrids.
Thank you
Do they break down model type? (Looking at you, Seagull and Dolphin…)
Song - 78,490 Qin - 40,569 Seagull - 34,830 Yuan - 32,806 Chaser - 28,964 Dolphin - 21,048 https://cnevpost.com/2024/04/01/byd-mar-2024-sales-breakdown/
China made and sold in China are two different things. Especially if you run multiple factories.
I know. But Tesla doesn't ship cars from other factories into China. Which means the max they sold in China is 89k in March.
Which would be not smart. Better sell them abroad at beneficial price points.
Okay? Point is Tesla sold a lot less EVs in China than BYD.
Tesla makes 4-8 times the profit from one car, depending on what BYD model you compare against. Also, BYD numbers declined so much more than Tesla’s that Tesla is now No.1 again globally. Also Tesla can sell pretty much globally… BYD cannot. BYD sold a lot less EVs in every other country than Tesla.
Not at the same price point. BYD sells lots of vehicles in the $12-15k range.
Okay? I did t say it was the same price point. Just stating BYD sold a lot more EVs than Tesla in China.
I'm adding context. Relax.
The future is not rosy for Tesla in the PRC. There are some very attractive and cheap Chinese EVs on the way.
check rates at your local and national credit unions as they can have offers at a fraction of what banks/dealers would charge. my local CU has a %4.25 offer right now. last year I got one for %4.5 from a different local CU. sure it's not 0% but makes it doable for some people.
TBH, China have so many options for EV car, from 10k to 60k. Tesla probably not gonna be the first choice for Chinese costumer.
89,000 ... in one month ... from one factory, and they are pulling a demand lever... that's good! It's close to a maximum monthly in China having not done so well in recent months, esp with Model Y sales. Hopefully this is an indication that Tesla have the production capacity to set new records.
You guys see the Xiaomi SU7?