Tesla China Sales Slump In April As Covid Crisis Halts Production, Hammers Demand

Published by
The Street

By Martin Baccardax Tesla’s China sales hit a two-year low last month thanks in part to a 22-day shutdown at its Shanghai gigafactory and a slump in consumer demand. Tesla (TSLA) – Get Tesla Inc Report shares pared some of its pre-market gains Tuesday after data from China showed a sharp slowdown in sales and exports and reports suggested the country’s Covid crisis has again shuttered production at its Shanghai gigafactory. The China Passenger Car Association (CPAC) said Tesla produced just 10,757 cars last month, selling just over 1,500 and exporting none, thanks to a 22-day closure of its Sh…

Read More

Leave a Reply