Hyperdrive
Tesla Demand Picks Up in Japan Following Aggressive Price Cut
- Electric-vehicle maker cut prices for Model 3 in February
- Cost reductions may stir up competition in Japanese market
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Tesla Inc.’s Model 3 sales appear to be taking off in Japan since it cut prices on the mid-range electric sedan last month.
Delivery times for the vehicle have expanded to 12-to-16 weeks, compared with six-to-eight weeks before the price reduction, according to a person with knowledge of the matter. Reservations for test drives are also harder to get, with wait times now at more than three weeks instead of one week, said the person, asking not to be identified because the information isn’t public.