A picture of a parking lot full of unsold Teslas has shone a light on the electric vehicles market, which isn’t as robust as manufacturers would like to believe.
Around 2000 Teslas arrive at Port Melbourne every month but there’s no buyers to take them home.
Peter Anderson, of the Victorian Transport Association, told 7News: “All of a sudden we’ve got a huge backlog of Teslas that aren’t moving.
A parking lot in Port Melbourne full of unsold Teslas. (7News)
“Teslas usually come into this country pre-sold. These ones aren’t, they’re sitting here waiting for buyers.”
Tesla sales tanked 44 per cent in April despite recent price cuts in a bid to compete with a growing Chinese EV market.
A brand new Tesla Model Y is now $11,400 cheaper and they aren’t the only ones cutting prices.
The Peugeot e2008 has been given a massive cut from $63,000 to $39,990. On the lower end of the market, a GWM Ora is down 20 per cent to $35,990.
Overall EV car sales dipped five per cent in April after booming year on year growth for the past three years.
Thousands of unsold cars in a parking lot in Port Melbourne.
Car experts say the industry is struggling to expand beyond the early adopter phase, blaming bad charging infrastructure and poor resale figures.
Speaking on Sky News car expert Caleb Bond said: “The market has really softened, people are not buying them in the same numbers they were because they’ve worked out it’s all a bit of a sham.
One reason why sales may be suffering is poor resale value. (Photo by JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
“And one of the great shams is that there is no resale value in these things.
“There’s two reasons for this. One is that the price of new electric vehicles keeps going through the floor again because they can’t sell them.
“Now the manufacturers are reducing their prices on the shop floor significantly.”
Bond continued that because technology also improved every year old electric cars were depreciating quickly.
“It’s no surprise people aren’t buying them,” he added.
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