After making a set of aggressive price cuts in China, Tesla Inc TSLA saw demand rise in accordance.
One report said the company delivered 10,000 vehicles in a single day following the cuts. But there was another indicator of increasing demand following reduced prices.
As shared by Teslarati, wait times on Tesla’s Model Y order page in China showed increasing wait times for the vehicle. This was in stark contrast to the end of 2022, when the company’s website showed wait times continuing to fall, in what many suspected was a lowering of demand for the company’s premium electric vehicles.
According to the Chinese government, Tesla’s Shanghai factory could produce a Model Y approximately every 40 seconds. Even with this quick pace, wait times in China were increasing.
Another factor that could lead to increased wait times was the company’s habit of exporting vehicles for international delivery near the beginning of a new quarter.
Photo: Courtesy of Tesla