Tesla has increased delivery time of cars in China

Budrigannews.com – (NASDAQ:) Tesla indicating that the price cuts announced on Friday may be stoking demand in the electric vehicle manufacturer’s second-largest market by indicating longer waiting times for potential buyers of certain Model Y versions in China.

According to Tesla’s website, the waiting time for orders of the long-range and rear-wheel-drive Model Ys was a week longer on Monday than it had been on Friday.

On those models, the wait was between two and five weeks as of Monday. As of Monday, the wait time for the performance Model Y as well as all Model 3 models remained between one and four weeks.

Analysts interpreted Tesla’s Friday price reduction, which brought some of its vehicles close to BYD’s best-selling models, as a sign that a price war may be developing at a time when China’s demand has faltered. The price reduction ranged from 13.5 percent to 6 percent.

A person with knowledge of the situation stated that Tesla had not made any adjustments to its January production plan for its Shanghai plant as of Monday. The plan called for the suspension of the assembly lines to begin on January 20 and last until the end of the month.

After a flurry of spontaneous protests, irate Chinese car owners who purchased Tesla vehicles at the end of 2022 but did not receive the additional discount stated that they were waiting for a response from the company regarding their demand for some form of compensation.

Saturday, a Tesla representative told Reuters that the company has no plans to compensate those customers for missed price cuts. On Monday, the company did not respond to a comment request.

Some Chinese buyers said they had been misled into thinking that there would be no more discounts. A lot of people also wanted to take advantage of a national EV subsidy that ended at the end of the year.

The protests, which were captured on video and took place in cities like Beijing, Shenzhen, Chengdu, and Xi’an, have largely been ignored by the state media in China. A demonstration at a Tesla facility in Shanghai was witnessed by Reuters.

The protesting Tesla buyers received mostly negative feedback on Chinese social media, with many saying online that they should have understood the contract’s terms.

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“Wind Blows,” a well-known law blogger, wrote on his Weibo, “I feel ashamed for them protesting after Tesla cut the prices.” digital media Separately, as of Monday, Tesla began offering discounts to buyers in Singapore who agreed to purchase existing inventory, joining China, South Korea, Japan, and Australia as markets where it has provided new incentives.