Analysts are seeing the price cut, which is up to around 20%, across U.S. and Europe as Tesla’s way of adapting to increasing competition (via The Guardian). Earlier this month, Tesla announced similar price cuts in China to gain some lead against local player BYD, but customers didn’t exactly take the move lightly. Hundreds of Tesla EV customers stormed its outlets demanding refunds. According to Reuters, the cost of a Tesla EV in China is now anywhere between 13 and 24% under September prices.
Some #Tesla owners in #China who took delivery in recent months and did not qualify for the reduced prices said on Friday that they planned protests at its showrooms in #Shenzhen and #Henan, screenshots of social media chats seen by Reuters showedpic.twitter.com/yJbKeq4mFY https://t.co/2LX4OUwZVD
— Share_Talk ™ (@Share_Talk) January 7, 2023
But their requests won’t be fulfilled, it seems. A Tesla spokesperson told Reuters that the company doesn’t plan to offer any form of compensation to buyers that splurged on a car right before the price cut. Analysts are divided over the move. Some see as Tesla’s masterstroke to retain its dominance in the sector as competition heats up even in its home market, while others are concerned how it plays into the profit dynamics.
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