Although this is concerning for investors, Tesla still remains the EV industry leader in terms of automotive gross margins. For Q2, gross margins stood at 18.2%, down from 25% in the year-ago quarter, while operating profit margins came in at 9.6%, compared to above 14% in the year-ago quarter. Now, the lower average selling prices are weighing on Tesla’s margins. Deliveries grew by 83% year-over-year to 466,140 units driven by price cuts on Tesla’s most popular models. While revenues rose by 47% versus last year to $24.9 billion driven by expanding deliveries, adjusted earnings stood at $0.91 per share, up from $0.76 in the year-ago period. However, Tesla stock fell by almost 10% in Thursday’s trading, as margins fell short of expectations, with Tesla also indicating that Q3 production could cool due to some summer shutdowns for factory upgrades. Tesla TSLA published a better-than-expected set of Q2 2023 results on Wednesday. (Photo by Smith Collection/Gado/Getty Images) Getty Images In other words you have to really want to buy a Tesla right now to go down this route.Close-up of Tesla Motors logo against a bright blue sky in Pleasanton, California, July 23, 2018. If you are not near a Tesla location that provides demo drives, Tesla occasionally hosts demo drive events for those who don’t live. You must be 18 years old and have a valid driver’s license to drive. Though you do lose out on whatever advances and tweaks Tesla has made in the years since that particular car was new. You can schedule a demo drive appointment online and before the appointment, a Tesla Advisor will contact you to confirm your appointment. In some cases those cars actually cost more than they were originally bought for, though you may be able to save some money compared to an equivalent new model. Demand for Teslas is also particularly high, seeing as how you can theoretically pick one up without a months-long wait. ![]() The downside is that the used car market is a mess right now, and has been for the past couple of years. That means the used Tesla you’ve been eyeing has a reasonable chance of being in pretty good shape. Tesla has even claimed that its batteries retain 90% of their original capacity after putting 200,000 miles on the clock. But the biggest upside is that a used Tesla will be available an awful lot sooner than it will if you bought it new - especially if you’re going after something like a Model X. The obvious disadvantage to buying a used electric car is that it’s, well, used. Tesla wait times: Should you buy used instead? ![]() This is also as good as you’re going to get, however since the premium extras have no visible impact on delivery estimates. The Performance Model Y (from $54,490) is expected to arrive in July or August this year if you order right now. The same is true for the $6,000 Enhanced Autopilot add-on and the $15,000 Full Self Driving. Previously it was to reduce this wait with premium add-ons, but at the time of writing none of these extras make any difference, so you should only pay for them if you want them. Meanwhile the Long Range Model Y (from $50,490) has the same estimated delivery of July to August 2023. This model currently has a July to August delivery estimate. Tesla recently launched a standard range Model Y in the United States, offering 270 miles of range and a price tag starting at $47,740. It doesn’t matter what extra add-ons you pay for, that’s the best estimate you’re going to get with this particular model. The Tesla Model 3 Performance model (from $53,240) usually has the shortest wait of the Model 3 range, but now has the same July to August 2023 delivery estimate as the RWD model. The Tesla Model 3 Long Range (from $47,240) is now back on sale, and if you had your heart set on the longest-travelling Model 3 you' should be able to receive one in July to August of this year. Combining add-ons, or choosing one of the premium Autopilot packages ($6,000 and $15,000 a piece) doesn't affect the delivery estimate in any noticeable way either. Previously you could improve your wait time by paying for extra stuff, but that's no longer the case. The wait times have improved a lot since the middle of last year, and this is as good as you're going to get right now. If you want the cheapest possible Tesla Model 3 (from $40,240), you’ll get a July to August 2023 delivery estimate. The Tesla Model 3 is the least expensive car in Tesla's current line-up, and the one that has some of the least depressing delivery estimates.
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