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I'm TAKING sexy BACK?!.....Tesla announced today that it is RESCINDING this.....
Posted by: NewtonMP2100
Date: July 13, 2016 03:44PM
....discontinuing its resale value guarantee program that assured buyers that cars would retain value over time....but lowering car starting price....


No more Tesla buyback guarantee as company cuts prices again

.....Tesla Motors Inc said on Wednesday it had discontinued its resale value guarantee program that assured buyers that cars would retain value over time, and lowered the starting price of its Model X crossover, the second time it has lowered prices this year.

Tesla, Silicon Valley's electric vehicle maker, has been facing problems on several fronts, most recently an investigation by federal regulators over its Autopilot technology following a May 7 fatal crash.

The discontinuation of the buyback program, as of July 1, shows the company stepping back on a pledge begun in 2013 that Tesla would buy back its cars financed through specified loan partners for a predetermined resale value after three years. The program was intended to help Tesla control its secondary market and assure buyers that cars would retain value.

A Tesla spokesperson said the program was discontinued to "keep interest rates as low as possible and offer a compelling lease and loan program to customers."

Tesla valued the liability created by the resale value guarantee at $1.58 billion as of March 31, according to its latest quarterly filing with the Securities and Exchange Commission. The resale value liability had increased by more than 20 percent since the end of 2015.

Also on Wednesday, Tesla said a new version of the Model X crossover, the 60D, will be priced from $74,000, $9,000 less than the Model X 75D. Equipped with a 60kWh battery, the 60D has less torque and a shorter range than the 75D.....



no one said no BACKSIES.......so......?!



_____________________________________

I reject your reality and substitute my own!



Edited 4 time(s). Last edit at 07/13/2016 03:50PM by NewtonMP2100.
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Re: I'm TAKING sexy BACK?!.....Tesla announced today that it is RESCINDING this.....
Posted by: SteveO
Date: July 14, 2016 06:38AM
I hope they can stay alive. The world needs them.
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Re: I'm TAKING sexy BACK?!.....Tesla announced today that it is RESCINDING this.....
Posted by: sekker
Date: July 14, 2016 10:10AM
Quote
SteveO
I hope they can stay alive. The world needs them.

Indeed. GM has gone on the record that without Tesla, there would be no Volt or Bolt models.

What's not clear to me is whether the lower-than-expected deliveries are due to soft sales or failure to produce Tesla vehicles.
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