Tesla's China price cuts led to protests. This is because many Chinese buyers missed the discounted prices of the EV maker.
The latest price reduction made by the EV maker is the second one it made in the past three months.
Tesla explained that it reduced the costs of its electric cars so that it can boost sales while demands are getting slow in China.
But, it seems like the price cuts are negatively affecting its image in China.
Tesla Price Cuts Lead to Protests
According to the Business Insider's latest report, around 200 Chinese consumers who purchased the Model 3 and the Model Y protested in Shanghai.
Read also: Tesla Model Y Long Range Does NOT Qualify for New EV Tax Credit: Here's What Elon Musk Says
They protested on Saturday, Jan. 6. They are protesting because they want the automaker to give them rebates since the price of Model Y and Model 3 are lower than what they originally paid.
As of writing, Tesla hasn't made any comment regarding the backlashes in China due to the price cuts.
Now, are these buyers qualified for rebates? Well, this will depend on Tesla.
Chase, JP Morgan Chase & Co.'s U.S. consumer and commercial banking business, explained that rebates have special requirements.
This will depend on the car manufacturers; if they require a specific credit score, specific lender financing, or specific car models.
Tesla Price Adjustments
CNN Business reported that Tesla reduced the price of its Model 3's price by 13.5%, which led to a $33,515 cost in China.
The automaker also lessened the Model Y's price to $37,889, which is a 10% cost reduction.
"Tesla's price cuts are backed by innumerable engineering innovations," explained Tesla External Relations VP in China Grace Tao.
Aside from China, Tesla also conducted price cuts in Japan, Australia, and South Korea. If you are planning to purchase your own EV, the best thing you can do is wait for other cost adjustments from the EV maker.
Other stories we recently wrote about Tesla:
Tesla's competitor, BYD, outsold the American EV maker after it delivered over one million units in China and other countries.
We also reported that South Korea fined Tesla $2.2 million because of false EV advertising.
For more news updates about Tesla and other EV makers, always keep your tabs open here at TechTimes.
