Watch: Chinese Tesla buyers protest after missing out on price cuts

Its natural to be upset if you miss out on a discount, but Tesla customers in China took to the streets to express their frustration. Elon Musk's E-car firm recently announced price cuts in China to scale up its sales in the major market, but a lot of people had bought a car just before that. Now those customers, clearly feeling left out, are demanding a rebate and perks because they were deprived of the discounts.

Smart purchase turns out to be hasty move

The car owners protesting outside Tesla's factories and showrooms, actually bought their vehicles before the end of 2022. They were trying to save money by benefiting from EV subsidies that the government was only offering till last year. But now these consumers feel that they ended up overpaying, after learning that Teslas got cheaper in the new year.

Tesla won't entertain demands

Tesla isn't complaining since the price cut has driven up its demand and Chinese consumers are willing to wait a week more for getting deliveries of their electric sedans. At the same time, the buyers who are protesting will not be getting any compensation from the firm, which has even registered an uptick in stock prices, thanks to the price cuts.

But despite more bookings, analysts are saying more rate reduction will be needed to accelerate EV demand in the Chinese market.