Tesla price cuts anger owners who bought before discounts: report

Elon Musk’s recent decision to enact big price cuts on Tesla cars reportedly angered customers who paid significantly more for the same model before the discount took effect.

Tesla slashed prices of some models by up to 20% in mid-January in a bid to stem increasing competition in the electric-vehicle sector and boost weak demand. The discount also increased the number of buyers eligible for the $7,500 federal tax credit.

With the steep price cuts, Tesla owners who bought their cars just weeks ago may have paid thousands more than those who waited until January.

Vikas Khanna, a medical worker who bought Tesla’s Model Y SUV at the end of December, said: wall street journal He said he missed about $5,000 in savings. Khanna, a longtime Tesla fan who has purchased two cars in the past, paid around $65,000 for the Model Y.

“It reminded me and cemented why Tesla as an organization can no longer be trusted,” Khanna told the outlet.

Tesla is also facing pushback from Chinese car owners.
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Khanna added that car pricing should be treated differently than other products that are occasionally discounted.

“We don’t take out loans for iPhones,” he added.

Another Tesla customer near Atlanta, Kapil Sharma, said he contacted the company after purchasing a Model Y just two weeks before the discount went into effect and was denied a refund.

According to texts seen by the journal, the company told him it “has no return policy and does not price match or adjust prices on completed orders.”

Tesla reported record profits in the fourth quarter.
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Elsewhere, a petition started by Tesla-focused YouTuber Dennis Wang garnered more than 6,000 signatures asking the company to offer a free service to anyone who bought a Tesla car last year before it was discounted. I was.

Tesla’s price cuts have sparked similar outrage in China, with owners protesting outside the company’s Shanghai facility earlier this month, demanding refunds.

Owners are complaining about a 17% drop in used Tesla car prices to $55,754 in November, from a peak of $67,297 in July, according to recent reports. Reuters reportOther used cars were down 4% over the same period.

Tesla cut prices on some models by up to 20% in January.
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Musk made reference to Tesla’s pricing strategy on an earnings call last week, revealing that the company posted “a record year-to-date order” in January.

“Price is really important. I think there are a lot of people who want to buy a Tesla car but can’t,” Musk said. “These price changes make a big difference for the average consumer.”

Tesla’s stock is up nearly 60% so far this year. Last quarter, the company reported his record profit of $3.7 billion.

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