AsianFin -- Tesla’s latest shipment data from China signals trouble for the EV maker, as demand appears to weaken further.
Tesla’s shipments from China dropped to 30,688 units in February, a steep 49% decline year-over-year and more than a 50% drop from January’s 63,238 units, according to the China Passenger Car Association (CPCA).
Meanwhile, China’s wholesale sales of new energy vehicles surged to 840,000 units for the month, marking an 82% increase from the previous year.
Tesla’s stock reacted negatively, closing down 4.4% on Tuesday and extending its year-to-date decline to 32.6%.
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