EV maker cuts prices in move analysts see as a sign price war could be starting
Shanghai — Tesla has indicated longer waiting times for potential buyers of some versions of the Model Y in China, signalling that price cuts announced on Friday could be stoking demand in the electric vehicle maker’s second-largest market.
Tesla cut prices by 6% to 13.5% on Friday in discounts that brought some of its cars to near Chinese conglomerate BYD’s best-selling models in a step analysts read as a sign that a price war could be building at a time when demand in China has faltered. A Tesla representative said on Saturday that the company has no plan to compensate those buyers for price cuts they had missed. The company did not respond to a request for comment on Monday.
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