Tesla Model S CPO Website - Now Live

[BoerumHill]

You're welcome! It's been fun to provide this to the community. I do wonder though what Tesla Motor's opinion of it is.

They ought to think you are awesome. You're giving buyers the ability to quickly compare CPOs across multiple markets. Informed purchase is a win for everyone.

Now if you were consolidating CPOs across a multiple market traditional dealership network, well year, eighth ring of Dante's Inferno for you, pal.

 

[HankLloydRight]

They ought to think you are awesome. You're giving buyers the ability to quickly compare CPOs across multiple markets. Informed purchase is a win for everyone.

So why don't they do it themselves?

Now if you were consolidating CPOs across a multiple market traditional dealership network, well year, eighth ring of Dante's Inferno for you, pal.

I don't know about other brands, but BMW-USA provides this service on their website to search for thousands of CPO and used cars for sale across their entire dealer network. It's awesome (and a huge time sink back when I was buying ICEs).

 

[brantse]

Likely removed by Tesla. They are trying to keep roughly 175-250 cars "online" at a time, and are removing ones that won't sell / turn-over. They are market makers, making the market.

It's an interesting approach, nonetheless. I have to think that within the Chicago (or other SC's) fleet, there has got to be a car that I'd be willing to pull the trigger on. But then again, maybe I feel that way because that's the grass in someone else's yard.

 

[Super_Popular]

I understand that at least in Canada some cars end up back on the CPO site after people fail to qualify for financing.

Exactly. 2 people applied for loans for my car and both were denied.

 

[brantse]

Exactly. 2 people applied for loans for my car and both were denied.

Unbelievable. I checked with my bank to see what I would pre-qualify for, just to be sure I don't end up in that situation. They qualified me for a car payment that exceeds my mortgage payment. Can I afford that... he!! no.

 

[MorrisonHiker]

So why don't they do it themselves?

Yes, it's amazing that they still haven't upgraded their CPO site. I can see the initial CPO site was set up quickly...but as far as I can tell, there haven't been any enhancements to add to the functionality since it was first rolled out. It would be so easy for Tesla to add some faceted searches which would allow users to quickly narrow down search results.

 

[brianman]

So why don't they do it themselves?

Cheaper and less distracting to have TMC volunteers do it.

 

[Drucifer]

Yes, it's amazing that they still haven't upgraded their CPO site. I can see the initial CPO site was set up quickly...but as far as I can tell, there haven't been any enhancements to add to the functionality since it was first rolled out. It would be so easy for Tesla to add some faceted searches which would allow users to quickly narrow down search results.

I think they were trying to reduce the hassle of transporting cars between CPO sites. It failed. People want what they want.

 

[SmartElectric]

You're welcome! It's been fun to provide this to the community. I do wonder though what Tesla Motor's opinion of it is.

Hank, first, thanks, my CPO S85 is on the way soon here in Toronto. Just working through trade in details today.

Second, when the local sales team was showing me the car last week (next day after my order, before it was prepared) I showed them your CPO reports site and they went bonkers with amazement! The three Tesla people around at the time all bookmarked it on their phones. ;-)

Third, when they found out I snagged the lowest price S85 15 minutes after it came online, they were stunned by the efficiency of your app, and the usefulness of hitting F5 on a constantly open browser window before going to sleep. Score! ;-)

In fact, the manager of the Canadian CPO system called me today to talk and commented that I was getting an excellent deal, and that he was impressed that I ordered the car less than an hour after it came online. Tesla Canada is now very much aware of the CPO reports site.

 

[Fiver]

Hey Hank, I would assume you have access to the traffic data coming off your CPO consolidator site... What kind of traffic data are you seeing? How many visitors a day, how many uniques, etc. I'm interested in what the overall interest in CPO Tesla's are through your site.

/edit Too bad you can't get a referral bonus like they have for Amazon etc. You get .05%-.1% for each car sold that clicked through from your site. Depending on traffic you might earn a free Tesla!

 

[action7981]

It does appear that Tesla is limiting listings to 40 max per location. Chicago, Los Angeles & San Francisco are maxed out. Why they are doing this doesn't make sense to me. What's the point of only showing a portion of your inventory when you control the pricing? Tesla is selling at least 1,000 new cars per week, why would it matter if they show 250 CPO cars or 400? I would think that showing all cars would create more buying because someone may find the car they are looking for that otherwise wasn't listed or there may be people that wait because they feel there is a car out there that better fits what they want that just isn't listed.

 

[CadillacJack]

Hank, first, thanks, my CPO S85 is on the way soon here in Toronto. Just working through trade in details today.

Second, when the local sales team was showing me the car last week (next day after my order, before it was prepared) I showed them your CPO reports site and they went bonkers with amazement! The three Tesla people around at the time all bookmarked it on their phones. ;-)

Third, when they found out I snagged the lowest price S85 15 minutes after it came online, they were stunned by the efficiency of your app, and the usefulness of hitting F5 on a constantly open browser window before going to sleep. Score! ;-)

In fact, the manager of the Canadian CPO system called me today to talk and commented that I was getting an excellent deal, and that he was impressed that I ordered the car less than an hour after it came online. Tesla Canada is now very much aware of the CPO reports site.

I need that Manager to put the Signature Red P85 in Quebec that's been pending finance approval for 2 weeks back on the block so I can buy it...can you put a word in for me? If Aaron is your OA, he knows who I am. I am also very interested in your trade in conversation - I was provided with a fairly low number at first but after pushing back I got a much better number - but then the car conditionally sold.

 

[jtpassat]

They are controlling the inventory which allows them to control the price. If they flooded the market with all their used inventory the prices would go down and they wouldn't get the margin they are looking for. It's the same thing De Beer's is doing with diamonds.

It does appear that Tesla is limiting listings to 40 max per location. Chicago, Los Angeles & San Francisco are maxed out. Why they are doing this doesn't make sense to me. What's the point of only showing a portion of your inventory when you control the pricing? Tesla is selling at least 1,000 new cars per week, why would it matter if they show 250 CPO cars or 400? I would think that showing all cars would create more buying because someone may find the car they are looking for that otherwise wasn't listed or there may be people that wait because they feel there is a car out there that better fits what they want that just isn't listed.

 

[Cosmacelf]

Yes, it's amazing that they still haven't upgraded their CPO site. I can see the initial CPO site was set up quickly...but as far as I can tell, there haven't been any enhancements to add to the functionality since it was first rolled out. It would be so easy for Tesla to add some faceted searches which would allow users to quickly narrow down search results.

Tesla's main site was/is programmed by a contractor company. I would expect the CPO site is similar. As long as it is working, I don't expect Tesla to let a new contract to expand the functionality.

 

[Super_Popular]

Some of the cars are completely overpriced but there are a few really good deals out there if you catch them fast enough...like we did.

 

[Alaron]

Hello everyone,

Firstly, I wanted to thank everyone in this community for the comprehensive and incontrovertibly beneficial information that these forums have provided. With that in mind, I purchased a CPO 2013 P85+ that was almost exactly specced to my liking and was discussed earlier in this thread:

Performance Plus Package -
Solid Black Paint -
All Glass Panoramic Roof -
21" Grey Turbine Wheels -
Black Performance Interior -
Carbon Fiber Décor -
Carbon Fiber Spoiler -
Supercharger Enabled -
Tech Package -
Smart Air Suspension -
Ultra High Fidelity Sound -
Paint Armor -
Rear Facing Seats -

Around 16.5K miles for $77,500. I believe it to be a good deal and will be taking delivery this Friday/Saturday. The car shipped from California and got here in less than two weeks from my order date. I barely had time to get my financing in order! Will post pictures when I pick it up. Super excited!

 

[HankLloydRight]

Hey Hank, I would assume you have access to the traffic data coming off your CPO consolidator site... What kind of traffic data are you seeing? How many visitors a day, how many uniques, etc. I'm interested in what the overall interest in CPO Tesla's are through your site.

Not yet, but you're not the first to ask. Time to put Google Analytics on it.

/edit Too bad you can't get a referral bonus like they have for Amazon etc. You get .05%-.1% for each car sold that clicked through from your site. Depending on traffic you might earn a free Tesla!

yeah.

 

[action7981]

They are controlling the inventory which allows them to control the price. If they flooded the market with all their used inventory the prices would go down and they wouldn't get the margin they are looking for. It's the same thing De Beer's is doing with diamonds.

Cars don't retain value like diamonds do. If a diamond sits in storage for a year it will have roughly the same value. Inflation/deflation would have an affect on pricing, but that would apply to almost all goods. The age, milege and condition of a car vs cost new dictate perceived value (desirability). I may be wrong but I just don't see how limiting supply currently has a positive affect on Tesla CPO pricing. While it's still early on, there doesn't appear to be a demand problem for CPO's in US/Canada, which looks to be 150+ per month. I'm estimating that Tesla's total inventory is ~400-450 cars based on what people are reporting seeing at service centers. Based on this Tesla is showing less than 2 months worth of inventory as opposed to an estimated 3 months inventory, not a big difference. Considering Tesla is setting the standard for pricing because they control all CPO's I don't see how showing they have an additionl 1 month of inventory would make Tesla lower their pricing.

Those of us on TMC know that there will be an increase in Model S trade-ins when the Model X starts deliveries. I can't imagine Tesla wants to have more CPO's taking up space at their service centers so it makes more sense to reduce inventory to the lowest they can prior.

I'm more inclined to believe that it's a resource issue neccesitating the limiting of CPO listings/sales rather than trying to control pricing.

 

[Fiver]

I'm estimating that Tesla's total inventory is ~400-450 cars based on what people are reporting seeing at service centers.

I'd say it's much higher then that. I'd be willing to bet that they are sitting on close to 1,000 cars across the country, and probably have 10-20 more coming in per week. That number will climb as the X gets closer to release. They know this and would probably want to drop the inventory down as much as possible, while maintaining margin.

The X release at the end of the year will do some interesting things to the CPO market, that's for sure.

 

[Drucifer]

I'd say it's much higher then that. I'd be willing to bet that they are sitting on close to 1,000 cars across the country, and probably have 10-20 more coming in per week. That number will climb as the X gets closer to release. They know this and would probably want to drop the inventory down as much as possible, while maintaining margin.

The X release at the end of the year will do some interesting things to the CPO market, that's for sure.

A limiting factor is how many cars they can move, prep and deliver. I imagine as processes get settled, they will (and have) increased the number available and if not enough move, they will do something about either pricing or making the CPO site more easily accessible (1 click from the home page instead of needing to go to Model S first) / more buzz about it.