{"id":145235,"date":"2023-01-13T08:00:00","date_gmt":"2023-01-13T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=912124"},"modified":"2023-01-13T08:00:00","modified_gmt":"2023-01-13T00:00:00","slug":"tesla-slashes-car-prices-prompting-backlash-from-existing-owners","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/01\/13\/tesla-slashes-car-prices-prompting-backlash-from-existing-owners\/","title":{"rendered":"Tesla slashes car prices prompting backlash from existing owners"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

T esla has begun slashing the prices of its electric vehicles in Europe and the US in a bid drive up sales amid dwindling consumer demand, sparking fury from existing owners.
\nPrices of the carmakers Model 3 Performance vehicle were cut by 14.3% in the US, according figures from Reuters, while the price of the Model Y Rear Wheel Drive vehicle was reduced by 16.8% in Germany.
\nThe cuts have prompted a backlash from some owners of the cars, with Tesla drivers posting in online forums that they felt short-changed by having to fork out thousands of euros more for the same vehicles because they bought them before the discounts. Earlier this week, owners protested outside delivery centres in China demanding compensation for the higher prices they paid, after the carmaker cut prices in the territory by up to 13.5% earlier this month.
\nTesla said it had no plans for issuing compensation.
\nThe EV maker, run by billionaire Elon Musk, has seen its stock price plunge 64% in the past year, wiping more than half a trillion dollars from its market cap. Tesla shares took another tumble last week, diving more than 12% to hit their lowest level in over two years after the carmaker\u2019s 2022 delivery numbers fell short of targets.
\nSome investors have expressed frustration over Musk\u2019s decision to devote more of his time to running social media site Twitter, which he bought last year.
\nTony Sycamore, an analyst at brokerage IG Markets, told the Reuters news agency the focus on Twitter \u201cdoesn\u2019t put a lot of confidence in the business, or speak volumes for where his attention is at,\u201d adding \u201cit\u2019s not a good situation.\u201d
\nMusk has defended his time spent running Twitter, writing in a Tweet: \u201cI continue to oversee both Tesla & SpaceX, but the teams there are so good that often little is needed from me.\u201d
\nHe later added: \u201cI will make sure Tesla shareholders benefit from Twitter long-term.\u201d
\nThe dwindling stock price has meant Musk has now ceased to be the richest person in the world, according to Forbes, being replaced by the French boss of LVMH, Bernard Arnault.<\/p>\n

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

T esla has begun slashing the prices of its electric vehicles in Europe and the US in a bid drive up sales amid dwindling consumer demand, sparking fury from existing owners.
\nPrices of the carmakers Model 3 Performance vehicle were cut by 14.3% in the…<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[144,194,465,1242],"tags":[7007,6389,8395,3942,7654,3571,10315,10344,10515,6944],"class_list":["post-145235","post","type-post","status-publish","format-standard","hentry","category-china","category-news-chinese-law","category-social-media","category-twitter","tag-car","tag-electric-vehicle","tag-elon-musk","tag-europe","tag-france","tag-germany","tag-media-intelligence","tag-outer-space","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145235"}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=145235"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145235\/revisions"}],"predecessor-version":[{"id":145236,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145235\/revisions\/145236"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=145235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=145235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=145235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}