Tesla Inc. has reduced production at its plant in China, according to people familiar with the matter, amid sluggish growth in electric-vehicle sales and intense competition in the world’s biggest auto market.
Tesla representatives didn’t respond to requests for comment. The carmaker’s stock — already the worst performer in the S&P 500 Index this year — slumped as much as 3.9% before the start of regular trading Friday. Tesla relies predominantly on two models first unveiled before 2020 to compete in China. The company did update the Model 3 sedan and Model Y sport utility vehicle in the second half of last year.
Tesla delivered 131,812 vehicles in the first two months of 2024, a 6% drop from the same period a year ago, data released by China’s Passenger Car Association show. Only 53% of shipments went to the local market, despite price cuts Tesla has been carrying out since the start of the year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple CEO Tim Cook visits Shanghai amid a slowdown in China iPhone salesApple's Tim Cook is on a visit to Shanghai ahead of the opening of a new retail store and distressed iPhone sales in the country.
Source: CNBC - 🏆 12. / 72 Read more »
Apple CEO Tim Cook visits Shanghai amid a slowdown in China iPhone salesApple’s Tim Cook is on a visit to Shanghai ahead of the opening of a new retail store and distressed iPhone sales in the country.
Source: NBCLA - 🏆 319. / 59 Read more »
Why Ford’s Tesla Charging Adapter is Good for Tesla, Ford and the EV IndustryClean Tech News & Views: EVs, Solar Energy, Batteries
Source: cleantechnica - 🏆 565. / 51 Read more »
Tesla: It's Okay to Double-Park At Supercharger Stalls In A Non-TeslaFord owners will soon have access to Tesla's Superchargers, but due to the location of Ford's charge ports, Tesla recommends that owners double park to charge.
Source: InsideEVs - 🏆 579. / 51 Read more »
Tesla: It's Okay to Double-Park At Supercharger Stalls In A Non-TeslaFord owners will soon have access to Tesla's Superchargers, but due to the location of Ford's charge ports, Tesla recommends that owners double park to charge.
Source: InsideEVs - 🏆 579. / 51 Read more »
iDesperate: Apple Boss Tim Cook Sucks Up to China During Shanghai VisitSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »