Ellen Root, Barron’s senior writer, talks about what awaits Tesla in 2023 after stocks face a sharp decline on “Colaman’s Countdown.”
Hundreds of Tesla customers In China, who bought cars from the e-car maker late last year, protested in Tesla stores after the company announced it would cut prices in response to disappointing sales figures, videos show.
Tesla cut prices last week for its Model 3 and Y. vehicles in ChinaIt is the largest car market in the world.
The company lowered prices after disappointing sales numbers for the Pioneer of electronic vehicles It showed a five-month low, with 55,796 cars delivered in China in December, or 44% less than the previous month.
Tesla prices in China amid slowdown in deliveries
The Tesla Model 3, the least expensive car on the market, will cost Chinese consumers about $33,427, down from $38,704. The Model Y price has been reduced from $42,051 to $37,830.
Energy market analyst Anas Al-Hajji in Dallas, Texas, tweeted a clip of protesters walking into a Tesla store in China.
A man wearing a face mask following the outbreak of the coronavirus disease (COVID-19) walks past Tesla Model 3 sedans and Tesla Model X sports utility vehicle at the new Tesla showroom in Shanghai, China, May 8, 2020. (Reuters/Yili Sun/Reuters Photo)
“Protesters who bought Tesla cars stormed a Tesla store in China after the price cuts and demanded a refund of the price difference,” Al-Hajji said, asking if the protesters thought the price difference should be returned to the protesters.
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In the video, people entered the store, following a person who was holding a banner over his head. Then another person is seen trying to get the mark out of the person’s hands.
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Tesla stock has fallen over the past year and is down about 72% from its highest point in November 2021.
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