WAIT Until 2024 To Buy Your Tesla | Don't Make a Mistake

today we're getting into the latest Tesla news including why waiting to buy maybe smart leaked cybertruck specs the state of the US EV battery market and more so let's get into it first up today one of the main things that EV owners know about when it comes to EVS is incentives in the right situation country or state incentives could be what take an EV from being an expensive luxury to the car that makes more sense than any other for you but a new study this week has shown that 40% of Americans are completely unaware that a $7,500 federal tax credit even exists for EVS the federal clean vehicle tax credit was introduced as part of the inflation reduction act last year and it has really had a big impact on the future of EVS companies need to Source their batteries in certain ways and assemble their cars in North America in order for them to qualify on top of that this tax credit is changing to become a point of sale Credit in 2024 that means you'll be able to take $7,500 off the purchase price of the vehicle up front which should Mark a pretty great savings over the current system still according to Blue Labs 22% of Americans pulled said they had heard a great deal or a good amount about the federal clean vehicle credit on the other side of things 40% said they had no clue about it this data comes from a mixed pool of 2,422 adults surveyed between August 22nd and 30th that's a reasonable pool but of course doesn't tell the whole story in any case it's a good pointer as to why Tesla advertising could be a great thing 40% of those pulled had no idea about this credit and that could very well include plenty of customers who would love an EV when I search Eevee tax credit on Google I now get served an ad from Tesla detailing the $7,500 tax credit available for the model y built in America so hopefully this can raise some Awareness on their side misconceptions and lack of available knowledge like this seems to be one of the biggest hurdles for Eevee adoption especially in the United States so I think Tesla could do a lot here with particular advertising next up today as we approach the end of the year it's raising the regular question of do I wait to buy a Tesla or buy now with this comes a lot of factors so let's Dive Right In first let's look on the product side of things if you're looking to buy a model 3 Tesla has already refreshed that car out of gigga Shanghai the latest rumors say it should come to the US in early 2024 so if you like the upgrades this car has brought to those markets it may be a good idea to wait to buy the new version of that car is right around the corner and based on reviews it brings tons of improvements even beyond that that you can see detailed on Tesla's website in markets where it's on sale for the model y we do expect a slight refresh to come around the time of that new model 3 bringing a couple small changes they now ship in China like updated hubcaps and an LED light strip across the dash but the real Juniper upgrade taking the stuff from the new model 3 and putting it into the model y may still be a ways off the latest rumors say late 2024 so if you're ready to buy a car today this will likely be too long of a way however if you're patient it could be worthwhile on the other side of things is the tax credit and in some ways this makes waiting until 2024 seem like the best option big upgrades are coming to these cars and the tax credit is going to get much more accessible starting in January of 2024 eligible buyers will be able to transfer their $7,500 tax credit to the dealer resulting in a lower point of sale price until now the tax credit was something that wasn't seen until the following tax season but now it will come off of your purch purchase price in practice this should save people a decent amount of money because interest rates for vehicle loans are at all-time highs a 72-month Tesla loan is now at a 6.69% interest rate for many customers they likely have to fund that $7,500 and pay interest on it costing them quite a bit more in the long run come 2024 though the vehicle purchase will be $7,500 less requiring less to be financed from the start this was calculated by JD Power with a vwi id4 4 showing that a model bought in September would cost $515 including the transaction price and 5 years of Interest instead if bought in January of 2024 it would be $43,500 of interest that's a big difference over the Long Haul and it could make waiting to buy pay off a ton of course there are tons of factors here including if you qualify for the tax credit and all the complications of timing there but even if Tesla rate pricing for their refreshed models it looks like it could be cheaper at the same time as well experts are predicting that we may soon see an EV plosion an explosion of EV options on the market with tax credits and overall options and Supply driving prices down with more options out there to choose from this could continue driving Tesla's prices down in response even if new entry cars at lower prices aren't profitable for those companies yet they still do pose a challenge to Tesla who has to scale up and has room to drop prices and remain profitable this all makes it look like waiting until 2024 to buy a model 3 or Y is going to be the best option but there is one caveat while this tax credit is becoming easier to get and should save you money the requirements on the battery side get stricter Tesla sources their batteries and minerals from many different places so they do warn that come 2024 the tax credits may be reduced or at least the way that they word it is that for 2023 you're guaranteed the $7,500 credit if you qualify with the model 3 they worn $7,500 tax credit expected to reduce to $3,750 on December 31st pending Federal guidance take delivery to guarantee full incentive it seems they are a little more confident that this credit Will half on the model 3 but for the model y they are less sure simply saying take delivery by December 31st for full $7,500 tax credit essentially they can only guarantee it's available in 2023 and guidance will confirm whether or not it is lowered next year that also Al happens to be a good sales incentive for Q4 deliveries at the same time so this could lead to a situation where it's a point of sale tax credit but it's only $33,750 off for some buyers that reduced credit becoming available at the point of sale on an upgraded model 3 or Y would still be very much worth the wait for myself it would be but it's a consideration here for sure and nothing with Tesla is ever definitive tax credits are also complicated and we're not in 2024 yet so we don't know exactly what this process is going to look like of a point of sale tax credit being transferred to a dealer it could be complicated next up today the latest for the Cyber truck including tons of confirmed specs first the matte black cybertruck was finally spotted prior to its release which means Tesla officially wrapped this themselves this one was spotted at a Cars and Coffee Meetup in Santa Monica and it was Tesla's chief designer fron Von husen himself bringing it along I detailed this a bit in my last video too but many people got videos and some great close-ups overall it's a great look for this truck and one that many will opt for but the quality of the wrap and quality of the build in this particular cybertruck prototype leaves some to be desired it's important to remember that these aren't production cars but with less than 3 weeks to go until first deliveries it does raise the question as to whether or not customer Vehicles will have similar issues at least initially I'm personally expecting it either way it looks pretty great cruising down what looks like PCH and it really demonstrated the matte aspect of the wrap when parked next to an old Ferrari over in Alaska the Cyber truck was spotted cruising and testing in the snow which is good to see for winter EV testing and it was similarly spotted next to a model 3 in Colorado here it's being snowed on Tesla has so many prototypes all over the place at this point that it's starting to seem a bit normal when in parking lots likely though this will still be quite a shock when they start showing up in larger numbers after its launch for trademarks Tesla filed two related to the Cyber truck on November 3rd both refer Direct direct L to the Cyber Tru and say automobiles off-road vehicles pickup trucks electrically powered motor vehicles and structural parts therefore the first includes this simple logo and the second includes the cyberpunk style logo that we've seen we also know that this is going to be in the front trunk as for specs we had a huge leak this week and one great feature has been confirmed reportedly a screenshot of the cybertruck spec sheet was sent to the folks at TF in their video they start out by showing what the cybertruck's outlet Port looks like in the rear not only does it have two standard 120 volt Outlets but it also comes with a nema1 1450 outlet that will support 240 volts this will Mark the first Tesla vehicle capable of charging another Tesla or capable of running this much external power at all for that matter this is initially very exciting to see since Tesla is known to leave off certain features that many really want at the same time competing trucks do have more ports like the rivan r1t or Ford F-150 Lightning but the Nemo 1450 may make up for all of that the competing F-150 Lightning can output up to 9.6 KW whereas the 1450 plug should be able to Output 12 KW on the Cyber Tru hopefully this will mean that we're finally able to do some bidirectional charging of your home on the Cyber Tru this is a feature that's becoming more common from competitors and makes a lot of sense with such a large battery pack just sitting there during a power outage as for the rest of the specs the overall dimensions are pretty similar to what we've known in the past it will be 18.6 ft long 79 9.9 in wide without mirrors and 70.5 in high on the medium suspension setting likely this will be the all-purpose ride setting this chart posted on the cybertruck Owners Club Compares these specs to other trucks well with the Cyber truck sitting between trucks like the Maverick r1t Tacoma and larger ones like the lightning or Ram 1500 the Cyber truck is significantly shorter in length and height than many trucks on the road while providing a lot of the same functionality that will likely be an appeal for many customers next up the wheelbase is 143 in and the curb weight for the dual motor is 6,670 lb that's around 500 lb lighter than certain rivan r1ts and similar to certain F-150 lightnings for tri motor this increases a bit up to 6,890 LBS one potentially disappointing rating is the tow rating at 11,000 lb this is an impressive towing capacity but doesn't hold up to what Tesla originally announced four years ago Tri motor was supposed to tow up to 14,000 lb so if these specs are accurate in the first place and then accurate to try motor as well the cybertruck can't tow as much as originally promised I'm particularly curious then to see how range turns out since they very likely will come in under the original 500 plus mile range promise one thing to note with the difference in weight between dual and tri motor is that they seem to have about the same battery pack with such little weight difference the change likely just comes exclusively in the motor which doesn't look great for a 500 Mile option at the same time as well I think Tesla is keeping rain incredibly close to the chest and not planning to reveal that until November 30th or maybe even later if they can spec sheets like this have been unveiled and employees have even said that they can't find out the range by tapping on screen it is locked to a percentage very likely the first time we'll hear about the cybertruck's range will be from the EPA itself but in an Ideal World maybe both dual and trotor will come with an impressive range on a battery pack next up the max tongue is 1,110 lb bed length is 72.8 in or a bit over 6 ft long and the bed width is 51 in or about 4 and 1/4 ft wide the front trunk has a 7.1 cubic feet capacity and is able to hold 420 lb itself coincidence inside Headroom is listed at 41.6 in up front and 39 in in the rear leg room is 41 in in the front and 40.9 in in the rear shoulder room is 63 in up front and 62 in in the rear and then hip room is 57.2 in in the front and rear you can't really know until you sit in a car or truck but these specs should make this a pretty spacious truck overall the most exciting thing to see here in my opinion is the Nema 1450 Outlet in the bed we knew that something like this would likely come but we never know for sure with Tesla hopefully we'll get final specs and confirmations come November 30th I'm most curious to see what happens with range lastly the Cyber truck was spotted towing a boat which is a pretty good use case for towing while it's not living up to its 14,000 lbs if these leaks are accurate it still might have most people's needs covered as we can see in a photo like this next up today there were some exciting feature updates for the new Highland model 3 out of Giga Shanghai that now have come into question as it is today every Tesla Model besides the model 3 comes equipped with a HEPA filtration system that enables bioweapon defense mode it's a really impressive and great feature to have in a car but the model 3 simply has not had room as Tesla has made it the Hope was that with the refreshed model 3 project Highland they'd finally find room for this filter and a Tesla graphic in China appeared to confirm that it was finally coming to this car a graphic posted by Tesla's China division looked as though it confirmed this showing the updated model 3 and advertising the HEPA filter that can take out 99.97% of particulate matter this appeared to be full confirmation here but upon further inspection it seems this may unfortunately not be true in Drive Tesla Canada's analysis they detailed that this graphic simply mentions what HEPA filters do and has a model 3 Highland in the background Tesla never mentioned to this upgrade which would be a notable one especially since they gave out review units initially and if they added this now it would be a big announcement on top of this the main display does not have the button for bioweapon defense mode as does every other Tesla with this then Tesla has removed this post and replaced it with a model y a car that does include this feature for now it seems the model 3 will be the lone Tesla car to exclude this feature which is too bad to see with such a large refresh happening now next up today as the popularity of ev's grow so does the global demand for batteries and so far China has become the leader there the United States has fallen way behind China in terms of battery production and this isn't the best recipe for an electric future in a letter to the energy Department two senators said the US is 10 to 20 years behind Asia in commercialization of Battery Technology the purpose of this letter was to make the case that us EV battery production needs a boost to keep up with growing demand currently China makes more than 75% of the world's battery cells partly because they control a large portion of the minerals needed to produce them for example they're the world's top producer of graphite which is used in basically all EV battery anodes recently the US and Europe have taken steps to attempt to regain some control in the US that looks like tariffs adding an extra 25% for Chinese EVS on top of a 2.5% import tariff for vehicles additionally we clearly see requirements laid out in the EV tax credit that get stricter for automakers to qualify these require sourcing and Battery production to come to the US in growing quantities as the these cars scale up but blocking Chinese EVS being sold in the US isn't going to be enough us automakers going to need a lot more local battery infrastructure in order to keep up with American EV demand they go on to say in the letter that the US must become a leader in manufacturing batteries and Battery components while securing our supply chains for the materials that make up those components in 2022 the US produced less than 10% of lithium ion batteries whereas China was at 70% Global demand is expected to soar thanks to Eves with an estimate of 4.7 tratt hours required in 2030 up from 700 gwatt hours in 2022 the tough thing here is China's lead in order for the us to do any form of catching up it's going to take a ton of work and it will require heavy investment internally at companies Tesla has been expanding their 4680 cells made entirely inous and plans to expand their Nevada Factory but they still rely on suppliers as well more than ever it seems like getting into the EV battery manufacturing business within the US is going to be necessary and pay off for those who do so we'll definitely be seeing a blend of government investment here but ultimately I won't be surprised to see test the lead in this area for a long time into the future we'll have to see last up today some updates from other automakers it's been 6 months since Mercedes Maybach unveiled their first electric vehicle the eqs 680 SUV and they've officially unveiled its pricing this car was unveiled with chrome and a lot of Maybach logos but now has a sleeker darker Design This is the top spec of the first all electric SUV from an Ultra Luxury sub brand of Mercedes so its price shouldn't come as too much of a surprise $180,000 that price gets you dual motors that deliver an output of 84 KW 649 horsepower and 700 lb feet of torque it'll have a 0 to 60 in 4.1 seconds a top speed of 130 mph a range of 373 Mi and 200 KW fast charging it has a slightly larger footprint than the model X at 21.7 in long with with about half as much cargo capacity of course this car comes with a ton of luxury features including Mercedes Signature Air Balance package that perfumes your car but starting about $85,000 more than the Plaid model X may be a hard sell for some some of the features that may make it worth it though are Napa leather upholstery and rear executive seats that are ventilated heated and include massagers it also has a removable mini fridge and multiple rear entertainment displays then for $25,000 more at $ 205,00 you can get even more features including rear calf massagers this definitely is a small Niche vehicle and isn't a GameChanger for the market but it's cool to see very cool luxury EVS that's all the latest Tesla news for today so in the meantime if you want to see the AI features coming to Teslas in the future you can check out that video linked up here or in the description below thanks so much for watching and I'll see you on the next one

Channel: Ryan Shaw

Views: 196,539

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Id: xhYOiWKlwpI

Length: 17min 51sec (1071 seconds)

Published: Fri Nov 10 2023