Hi, this is Wayne again with a topic “Car Shopping Sucks”.
Tesla bans reselling cyber trucks. How about that one? It’S pretty juicy uh! It’S juicy sure. I I think it’s funny um and really dumb, but yeah Tesla has added a clause to its motor vehicle order agreements that prohibits cybertruck buyers from selling the vehicle within a year of its delivery date. Tesla May otherwise seek uh injunctive relief to prevent the transfer of title of the vehicle or demand liquidated damages from the end user in the amount to $ 50,000 or the value received as consideration for the sale or transfer, whichever is greater wow uh. The new policy also says that Tesla May unilaterally cancel orders, they believe were made for the purpose of reselling, which is funny. I know people. I know people now that have pre-orders on the cybertruck that are entirely planning on reselling it and we’re planning on reselling it from the beginning. So that will be interesting, uh buyers who run into unforeseen circumstances and must sell the vehicle, have the option of selling it back to Tesla discounted by 25 cents for every mile driven that actually seems, maybe really not bad at all. Yeah.
If Tesla agrees that the reason is valid also decline to buy the vehicle and provide the buyer a written permission to sell it to a third party, so our discussion question here is: is this a reasonable manner to curb scalping on a product where that’s obviously a Concern, I also I mean look Luke. How many friends do you think I have in the world one I mean that okay uh you’re you’re, not you’re, not that unique. Oh, you probably meant Ivonne. Oh, that hurts ouch.
My point is, I don’t have a lot of friends, I was even going after myself and he had he had to twist um. I know people who have cyber truck pre-orders and it’s for the express purpose of reselling them um. So with that in mind, knowing that this is this is a product that people intend to resell and like kind of Fu the market for and the perceived value of um is. Is this actually kind of reasonable handyman’s posting that they might have already removed the Clause? Um, I I I don’t know I I like the idea of hurting the scalping Market.
Scalping in modern years has been actually ridiculous. Um, like scalping, combined with uh user level, extreme sales on the internet, um has been a very, very negative reality for uh markets. In general, but I think any company coming in and telling you what you can and cannot do with something after you purchase. It is something that I’m always going to push back against.
It’S something that happens all the time. Yep uh. This is not. This is not a unique scenario uh, but I I I I don’t think I can agree with it pretty much ever so it is what it is y.
I think that summarizes how I felt about it and probably how a lot of people felt about it. Based on that this article from Road and track.com says that, as of yesterday, it looks like is that a six or a five two days ago, wow? That is the worst font ever uh through through the stream. I can’t see that tiny one pixel Gap here, but it’s it’s a five um since two days ago, um effective two days ago, Tesla has apparently removed the anti- flipping Clause so feel free to flip.
Your cyber truck to your heart’s content sounds good. I don’t actually have an order in for one, but I do I wish I did no, not really. I don’t think I need that hassle, the the at least in Canada anyway, the the tax burden of buying a vehicle and flipping.
It is a big part of the reason we didn’t end up doing that whole concept that I laid out where I was just going to buy cars to review, and then the only cost to me would have been whatever I eat. On the you know, few kilometers I drive on it when we resell the thing, hopefully to someone in the audience after the review or something like that, like I had this whole thing kind of worked out in my head, but the tax man, the tax man, wants A piece every time the tax man cometh yep and that was going to just kill, kill the cost of it would have been brutal. Amazon Amazon has announced. Oh boy, the delay, the delay. Oh no uh, oh uh, I’ll, go I’ll, go I’ll, go I’ll. Amazon has announced a partnership.
Oh okay, okay. I did that on purpose who goes now. I don’t know what to do you do it: okay, Amazon, just gon na wait.
Amazon has announced a partnership with Hyundai, where Alexa will be available through Hyundai infotainment system starting in 2025 and Hyundai dealerships will be able to sell vehicles on Amazon. Buyers will then have the option to have the car picked up from the dealership or delivered to them. Most surveys show that consumers dislike car shopping, particularly the dealership experience, but 48 states limit direct to Consumer sales of vehicles because, yes, my friends, that’s how powerful lobbying is, isn’t that great Tesla has popularized the idea of direct to Consumer sales, but it has also faced Lawsuits in multiple jurisdictions, attempting to Bar it from selling cars uh most dealers do already sell cars through their own websites, but at least here I I don’t have a lot of experience with this in America land, but here um, getting it delivered is a bit of A hassle like there’s red tape to to jump through, and it’s it’s not a seamless experience like you would expect ordering something on Amazon to be. I mean. Is this the kind of thing we have to test out Luke? Should I buy a Hyundai in America just so that I can have it delivered to me? Like I don’t is? I don’t think so, because there’s there’s been other bi car over the Internet services before so, like I’m sure Amazon can do it. Um yeah people are talking about carvana, yeah Carana was like really yeah, I mean I don’t know man how.
How often do you think I buy a car? I I don’t know, oh, is no. They they’re not uh yeah, but they’re not gone carvana, I’m pretty sure. Carvana’S dead, no public company still around yeah revenue of 13.6 billion.
As of uh the 2022. They went public in 2017. I thought I heard it went bad, maybe their stock just crashed super hard. Maybe that was it interesting.
Carana stock yeah, someone’s saying um carvana is used cars, Google, Google carvana stock and then look at the fiveyear chart. What a ride? Let’S go: okay, that’s pretty rough uh, wow, sorry to all the bag holders who bought at $ 360 a share; uh wow, yeah wow. They dipped to $ 7 recovered to 47.
They dipped to lower than that. Actually, really: oh wow, no yeah there. It is four bucks.
Yeah 405 is the lowest I’ve. Seen that’s rough was the fastest growing car dealer in the United States, known for its multi-story Glass Tower car vending machines got it got it got it got it got it so they this this is. This is a pandemic boom thing. Then, looking at the timing here, yep that makes sense all right, cool yeah, the the used car market is uh, is looking a little a little rougher. There’S a there’s a lot of there’s a man, a ton of sectors that just swamp shot up during the the covid lockdowns and then just are having a really hard time. Since then I mean the PC industry has been struggling, um, oh yeah, yeah! Don’T don’t ask how I know but uh, apparently, sales of computers are struggling, a lot like down double digit % year over year over year since uh, since the peak in like 2020 2021 .