Tesla’s recent move to cut its prices in China has been met with protests among Tesla owners who felt their cars have been devalued.
Aiming to improve dwindling sales in the country, the company slashed prices for its Model 3 and Model Y vehicles by as much as 13.5 percent last week.
The updated price for the Model 3 is now 229,900 Chinese yuan (approx. $34,300) and 259,900 Chinese yuan (approx. $38,770).
Soon after the discounts were announced, Tesla owners flocked to the automaker’s showrooms and delivery centers across the country to denounce the price cuts.
Over 60 car owners protested in front of a Tesla distribution branch on Sunday and yelled out chants such as, “Tesla lied to customers” and “Protect consumers’ legal rights.”
“Tesla is lowering its prestige as a premium EV brand by cutting prices time after time,” a Model 3 owner who asked to be identified only by his last name, Li, told the Financial Times.
A Model 3 owner nicknamed Ling told the Times that he purchased a Tesla in October last year after he was told that the models would soon rise in price.
“I feel like I’m a joke while driving my Tesla on the road now,” Ling lamented. “I’m so upset that I even started considering getting a new car from a different brand.”
In Shanghai, a 29-year-old Model Y owner named Damon Yu joined 25 other protesters at the local Tesla facility on Tuesday evening.
According to Yu, the protestors intend to continue to seek compensation from the company.
“We trusted the brand so much that we canceled our orders for other brands for Tesla,” Yu added.
Tesla, which also offered similar discounts in Singapore, South Korea, Japan and Australia, told Reuters on Saturday it had no plans to offer buyers any compensation. The company also relayed the same message in a group chat for Tesla users in China on Monday.