Tesla's Delivery Wait Times Go Up After Boosting Discounts On EVs

  • Tesla, Inc TSLA indicated longer waiting times for potential buyers of some versions of the Model Y in China.
  • Tesla's stretched waiting times probably signaled that Friday's price cuts announcement stoked demand in the second-largest electric vehicle maker market, Reuters reports.
  • The waiting time for orders of the rear-wheel-drive and long-range versions of Model Y was a week longer on Monday than Friday.
  • Also Read: Warren Buffett Backed BYD Showcases Premium Electric Car Brand
  • The wait as of Monday was two to five weeks on those models. 
  • The wait time for all versions of the Model 3 and the performance version of the Model Y remained at one to four weeks as of Monday.
  • Tesla slashed prices by 6% to 13.5% on Friday in discounts that brought some of its cars to near BYD Co, Ltd BYDDF BYDDY best-selling models hinting at a price war amid a faltering demand scenario in China.
  • As of Monday, Tesla did not adjust its January production plan for its Shanghai plant, with the suspension of the assembly lines to start from January 20 through the end of the month.
  • The discount irked buyers who purchased in late 2022, demanding compensation and staged protests when Tesla denied it.
  • Tesla also doled out discounts to buyers in Singapore on Monday who agreed to purchase existing inventory.
  • Price Action: TSLA shares traded higher by 3.53% at $117.05 in the premarket on the last check Monday.
  • Photo via Wikimedia Commons
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