Reported about 11 hours ago
Tesla's shipments from China plummeted 49% in February compared to last year, declining to 30,688 units, as reported by the China Passenger Car Association. Despite a surge in overall new energy vehicle sales in the region, Tesla struggles with competition from domestic manufacturers like BYD, which offer cheaper electric vehicles with advanced technology. The company’s issues in China follow a trend of weakening sales in Europe and have caused a significant drop in Tesla's stock price.
Source: YAHOO