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Tesla China Price Cuts Spark Protests Among Owners

Tesla owners in China gathered at the automaker's showrooms and distribution centers over the weekend to protest against recent price cuts, which means they overpaid for their electric vehicles.

Tesla EV
Tesla EV

About 200 buyers of the Model Y and Model 3 gathered in Shanghai to demand rebates and credit after Tesla slashed prices for the second time in three months. Videos posted on social media showed similar demonstrations in Chengdu, Shenzhen, and other cities.

After the latest discounts, Tesla's EV prices in China are between 13% and 24% below September levels. The protests come as Tesla tries to boost sales, which declined in December, and demand for electric vehicles weakens in the world's largest market.