Recent Tesla buyers feel ripped off after price crash

After the sudden drop in car prices, Tesla customers feel robbed. However, the brand should not offer any compensation.

Tesla has announced a significant price drop for its vehicles for the US and Europe, a fifth of their original cost, after all. This is, of course, very good news for those interested, but it does not work for customers who recently purchased Tesla at full price. This price cut comes at a rather turbulent time for Tesla, with the stock down about 70 % in 2022.

After a sudden drop in car prices, Tesla customers feel robbed

This rate cut is good news for US buyers, as Tesla vehicles are now eligible for federal subsidies of up to $7,500. However, customers are unhappy with the sudden devaluation of their new car. Naturally, some are demanding that Tesla offer a refund or launch a compensation program that would partially cover this cost reduction.

Hello @elonmusk and @Tesla. Not all of us are billionaires. I paid $72,440 (before taxes) for my new Y Performance model and received it at the end of September. Now you have a price of $59,630 for the same machine? There should be some sort of consumer protection law on this. pic.twitter.com/ARjy1r1aLH

— Marianne Simmons (@MarianneSimmons) January 13, 2023

This probably shouldn’t be. In 2019, while discussing a rate increase on Twitter, Elon Musk remarked that customers want a lower price for a car they buy after the price increase, but “if rates go up, those who have already bought have no desire to write a check.”Tesla. The only time Tesla has refunded money was in April 2021, when customers were charged twice for their purchases.

How fair is this price cut for people like us who bought a $15,000 more car just a few months ago? @Tesla @elonmusk pic.twitter.com/Ux5sGarMWe

— Leo Bronze (@Leobronze1) January 13, 2023

However, the brand should not offer any compensation.

Analysts see this price cut, which is around 20% in the US and European markets, as a way for Tesla to adapt to ever-increasing competition. A few days ago, Tesla announced a similar price cut in China in an attempt to wrest market share from local rival BYD, but buyers reacted far more “violently.” Hundreds of them flooded the brand’s outlets, demanding a refund. According to Reuters, the cost of a Tesla car in China is now 13-24% lower than in September.

But even here, it would seem, their demands were not heard. A Tesla spokesman told Reuters that the company does not intend to offer any compensation to customers who bought the car just before the price crash. Analysts are divided. Some see this as a masterstroke for the brand to maintain its dominance in an increasingly competitive industry, even in the US, while others worry about the company’s earnings momentum.

Some #Tesla owners in #China who received shipments in recent months and were not eligible for discounted prices said on Friday they were planning protests at its showrooms in #Shenzhen and #Henan , social media chat screenshots show. seen by Reuters. .com/yJbKeq4mFY https://t.co/2LX4OUwZVD

— Share_Talk™ (@Share_Talk) January 7, 2023