New Tesla owners staged protests in China over sharp drop in car prices

The day before, we wrote that Tesla reduced the cost of Model 3 and Model Y electric cars assembled in China again. Some configurations have dropped by almost a quarter since September. This led to protests from Chinese car owners.

Here's What We Know

Buyers are upset that the U.S. company has drastically reduced the cost of the cars. Chinese owners have gathered in Tesla China showrooms as they believe they have overpaid for their cars.

Most recently, the cost of the Model Y and Model 3 of Chinese assembly fell by 6-13.5%. Thus, since September 2022 the cars have already fallen in price by 13-24%, and the most affordable package of the Model 3 costs less than $34,000. Such a move on the part of Tesla could provoke a drop in the price of cars from other companies, but new Model 3 and Model Y owners do not particularly care.

Police organized a meeting between protesters and representatives of Tesla China. The owners of the cars put forward several demands to the company, including compensation. The Chinese division of Tesla should give an answer by next Tuesday.

However, compensation will definitely be out of the question. This was stated by a representative of Tesla China in a conversation with Reuters.

Source: Reuters