, 7 tweets, 6 min read Read on Twitter
$TSLA Used inventory demand is another story. They have stopped selling cars through auction

Approx 330 cars

Used S/X but some 3s(could be new or used)

Bonus: Tesla did not pay their bills @ some Manheim locations in Socal back in Oct 18. Not sure of curt status
Las Vegas Manheim has 150 stored. There are some 3s in there

Reconditioning seems to only be with Adesa.
Could it be that $TSLA missed payments again to Manheim?


h/t @Benshooter
Las Vegas Adesa has 180 stored or being reconditioned. There are 3s at this location

I confirmed this location receives approx. 100 $TSLA cars a month

I posted a pic of the recon section

Nov 2018 $TSLA announced they r using Manheim & Adesa to auction & manage their lease returns/used inv/trade-ins, w the goal to turn over this inv in 30 days or less

Trade ins r moving fast @ auction but not the Teslas

$TSLA has used inventory that failed to meet the reserve price at auction & is just sitting on their retail lots or stored @ these auctions

Stale inventory that is depreciating from as far back as Oct 2018 is poison for any company

h/t @ValueExpected for his #SGF in OH
How is $TSLA funding this used inventory?

@drinkthecoffee2 mentioned the ABL allows for $200m line from a different funding source 4 used cars, but possibly lease returns are still under the ABS. This allows them to sit on this inventory

h/t @CovfefeCapital for his #SGF in TX
AZ bonus from Manheim Phoenix.
40 S/X, some 3s scattered in there

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