Tesla Cuts Prices

Tesla’s ($TSLA@US) recent price cuts for its electric vehicles are raising backlash among its current Tesla drivers. Tesla cut its prices by nearly 20 percent on some of its vehicles to boost orders amid lagging sales. While the move achieved short-term gains, it negatively impacted existing Tesla owners, who took out larger loans for cars that have since declined in value. The creator of a Tesla-focused YouTube channel organized a petition for customers who purchased cars before the cuts to receive free or discounted software downloads. About 100 Tesla owners gathered at a showroom in Changsha, China, with a letter requesting compensation such as free charging or loyalty points.