EV demand is so hot that Tesla owners are flipping their cars like houses

Electric Vehicle flipping

Eddie Gribust, who makes a living outfitting Mercedes-Benz Sprinter vans for off-grid use, recently unloaded the Tesla Model Y he’d used as the family car for nine months.

“I was about to order a [Tesla] Model X and the Cyber Truck. The delivery times were nine months to a year, and that would obviously signal high demand, and therefore, low supply. From there, it was taking advantage of simple economics.”

Former Securities and Exchange Commission Chief Economist Larry Harris teaches that exact lesson to students at USC’s Marshall School of Business.

“When supply and demand are not in alignment, you get these opportunities where clever people can take advantage,” Harris said. “We’ve seen this in all kinds of markets. When prices change significantly for scarce goods, some buyers realize that the item has a greater value to others than it does to them, and they will sell to the people willing to pay more than they would, and profit from it.”

Read full story at the Los Angeles Times