SHANGHAI — Tesla Inc. has shown potential buyers have been waiting longer for some versions of its Model Y in China, with price cuts announced on Friday boosting demand there. Indicates that it may stir up. Electric car The second largest market for manufacturers.
According to Tesla’s website, waiting times for orders for rear-wheel-drive and long-range versions of the Model Y were a week longer on Monday than on Friday.
As of Monday, wait times for these models ranged from 2 to 5 weeks. Latency for all versions of Model 3 and Performance version of Model Y remains 1-4 weeks as of Monday.
Tesla Analysts have interpreted it as an indication that a price war may be building at a time when demand in China is sluggish.
As of Monday, Tesla had not adjusted production plans for January at its Shanghai factory and will shut down the assembly line from Jan. 20 through the end of the month, said a person familiar with the matter.
“This (waiting time) is an early indication that price cuts are having the intended effect and boosting demand,” said Garrett Nelson, an analyst at CFRA Research.
Nelson added that Tesla’s car production has outstripped sales for three straight quarters and has opted to cut prices and take additional downtime at its Shanghai factory to rebalance supply and demand. rice field.
An angry Chinese owner who bought a Tesla car in late 2022 and missed out on additional discounts said he was awaiting a response from the company after demanding some kind of compensation after a flurry of impromptu protests.
A Tesla representative told Reuters on Saturday that it has no plans to compensate buyers for missed price cuts. The company did not respond to a request for comment on Monday.