Tesla, Inc TSLA indicated longer waiting times for potential buyers of some versions of the Model Y in China.
Tesla’s stretched waiting times probably signaled that Friday’s price cuts announcement stoked demand in the second-largest electric vehicle maker market, Reuters reports.
The waiting time for orders of the rear-wheel-drive and long-range versions of Model Y was a week longer on Monday than Friday.
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.
Tesla slashed prices by 6% to 13.5% on Friday in discounts that brought some of its cars to near BYD Co, LtdBYDDFBYDDYbest-selling models hinting at a price war amid a faltering demand scenario in China.
As of Monday, Tesla did not adjust its January production plan for its Shanghai plant, with the suspension of the assembly lines to start from January 20 through the end of the month.
The discount irked buyers who purchased in late 2022, demanding compensation and staged protests when Tesla denied it.
Tesla also doled out discounts to buyers in Singapore on Monday who agreed to purchase existing inventory.
Price Action: TSLA shares traded higher by 3.53% at $117.05 in the premarket on the last check Monday.
