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Many Tesla owners have expressed frustration with the company after a series of surprise price cuts.
electric car manufacturers The Wall Street Journal reportedly cut prices on some models by nearly 20%. The move is seen as a way to attract new buyers at a time when Wall Street is concerned about weakening demand for cars.
Tesla cuts prices on models sold in the US: report
The Tesla logo is seen on the grille of the Model X electric car at the Moscow Tesla Club in Moscow, Russia, Friday, July 20, 2018. (Andrey Rudakov/Bloomberg via Getty Images/Getty Images)
This reduction could qualify some buyers for the $7,500 U.S. government Tax deduction.
Tesla owners vented about unexpected price movements Report to Fortune.
| ticker | safety | last | Change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 122.40 | -1.16 | -0.94% |
“I feel cheated. I feel taken advantage of as a consumer,” Tesla owner Marianne Simmons, who purchased her latest car from the company in September, told the outlet. “In no time, I got $13,306. That’s a huge reduction and it will affect a lot of people who just bought a car.”
Tesla cuts prices in China amid delivery slump
Tesla CEO Elon Musk smiles and addresses guests at the Offshore Northern Seas 2022 (ONS) meeting in Stavanger, Norway on August 29, 2022. (Karina Johansen/Getty Images/Getty Images)
Elon Musk’s car company has slashed the price of the baseline Model Y crossover by almost 20% to $52,990. This brings the vehicle under his $55,000 cap and qualifies for tax benefits.
A 14% price cut brings the high-performance version of the Model 3 sedan to $53,990, well below the cap. The Model 3 and Model Y are Tesla’s best-selling vehicles.
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File Photo: The Tesla Model S interior is shown in autopilot mode on April 7, 2016 in San Francisco. (REUTERS/Alexandria Sage/File Photo / Reuters Photos)
Tesla owner Ivan Drury told Fortune: “Anyone who recently bought a Tesla will immediately wish they had leased it.”
Tesla delivered about 1.31 million units car Last year it increased by about 40% from 2021, but fell short of the company’s target of 50% or more.
Tesla Model Y owner Andrew Checketts told Fortune:
Ken Martin of FOX Business contributed to this report.
