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The price cut didn’t go down well with existing Tesla car owners, as they slammed the company for slashing the price after they had already purchased.
A Tesla car owner, Marianne Simmons, who bought the Model Y at about $77,000, in a Canada Today report on Saturday, said she lost $13,306 in investment on the car after the price cut.
“I feel like I got duped. I feel like a got taken advantage of as a consumer,” Simmons said, adding, “Right off the bat, I’m out $13,306. It’s such a large reduction that it’s going to affect a lot of people who just bought a vehicle.”
In a market analysis, Ripples Nigeria gathered that investors reacted negatively to the critcism that trailed the price cut that came during the week.
As fear gripped holders of Tesla share, the firm’s stock price plummeted by -0.9 per cent on Friday to $122.40, from pre-price cut level of $123.56 on January 12, indicating low confidence among investors in the stock market.
