By Michael Elkins
According to Tesla's (NASDAQ:TSLA) website, the waiting times for potential buyers of some versions of the Model Y in China may need to wait a little longer as price cuts announced Friday stoke demand in the electric vehicle maker's second largest market.
Since Tesla cut prices by 6% to 13.5% on Friday, the waiting time for orders of the rear-wheel drive and long-range versions of Model Y is a week longer. 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.
Angry Chinese owners who bought Tesla cars in late 2022 and missed out on the additional discount said they were waiting for a response from the company regarding their demand for compensation after a flurry of impromptu protests. However, a Tesla representative told Reuters on Saturday that the company has no plan to compensate those buyers for price cuts they had missed.
Separately, Tesla began offering discounts to buyers in Singapore as of Monday who agreed to purchase existing inventory, adding that market to China, South Korea, Japan, and Australia to those where it has offered new incentives.
Shares of TSLA are up 7.87% in pre-market trading on Monday.