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Tesla Stock Tumbles More Than 7% After China Gigafactory Deliveries Slowdown

KEY TAKEAWAYSTesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year.The Chinese Lunar Ne

Tesla Stock Tumbles More Than 7% After China Gigafactory Deliveries Slowdown

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EVs stories are over.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/281095929135176","repostId":2417106863,"repostType":2,"repost":{"id":"2417106863","kind":"news","pubTimestamp":1709594700,"share":"https://www.laohu8.com/m/news/2417106863?lang=&edition=full","pubTime":"2024-03-05 07:25","market":"us","language":"en","title":"Tesla Stock Tumbles More Than 7% After China Gigafactory Deliveries Slowdown","url":"https://stock-news.laohu8.com/highlight/detail?id=2417106863","media":"Investopedia","summary":"KEY TAKEAWAYSTesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year.The Chinese Lunar Ne","content":"<html><head></head><body><h3 id=\"mntl-sc-block-callout-heading_1-0\" style=\"text-align: start;\">KEY TAKEAWAYS</h3><ul style=\"list-style-type: disc;\"><li><p>Tesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year.</p></li><li><p>The Chinese Lunar New Year celebrations in February hurt sales, along with increased domestic competition.</p></li><li><p>Tesla continues to use price incentives to boost sales, but Chinese manufacturers such as Xpeng and BYD are matching the strategy.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ce874fc13cf40bfc777bab8e73ff0f\" title=\"Xiaolu Chu / Getty Images\" tg-width=\"1500\" tg-height=\"1125\"/><span>Xiaolu Chu / Getty Images</span></p><p style=\"text-align: start;\">Tesla Inc. (TSLA) shares fell more than 7% Monday after new sales data showed deliveries from its Shanghai Gigafactory at their lowest level in more than a year due to the recent Chinese Lunar New Year and domestic competition.</p><p style=\"text-align: start;\">The automaker reportedly delivered 60,365 vehicles from its China factory in February, according to preliminary data from China’s Passenger Car Association (CPCA) on Monday. That marked the lowest level since December 2022 and was 19% lower year-on-year.</p><p>Vehicle sales are prone to a seasonal slowdown in China around the Lunar New Year early each calendar year, but the latest figures come amid a backdrop of slower electric vehicle (EV) sales and increased competition in the country.</p><p style=\"text-align: start;\">Tesla continued adjusting its pricing strategy earlier this month by offering insurance subsidies to Chinese customers on its Model Y and 3 vehicles. That was in response to other data from the CPCA that showed demand in the country for new-energy vehicles falling 30% in January from December.</p><p style=\"text-align: start;\">Tesla is also facing stiff competition from domestic EV rivals such as the Warren Buffett-backed BYD (BYDDY) and Xpeng Inc. (XPEV). BYD said Monday that it was slashing the price of its updated Yuan Plus SUV by 11.8% versus the price of the current version, while Xpeng extended a 20,000-yuan (about $2,780) discount on its top-selling G6 SUV to the end of March.</p><p>Tesla shares fell 7.2% to close Monday at $188.14. The stock has lost about a quarter of its value since the start of the year,</p></body></html>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Tumbles More Than 7% After China Gigafactory Deliveries Slowdown</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Tumbles More Than 7% After China Gigafactory Deliveries Slowdown\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-05 07:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investopedia.com/tesla-stock-tumbles-after-china-gigafactory-slowdown-8603865><strong>Investopedia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY TAKEAWAYSTesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year.The Chinese Lunar ...</p>\n\n<a href=\"https://www.investopedia.com/tesla-stock-tumbles-after-china-gigafactory-slowdown-8603865\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0823411888.USD":"法巴消费创新基金 Cap","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4588":"碎股","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","BK4534":"瑞士信贷持仓","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4555":"新能源车","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","BK4527":"明星科技股","BK4548":"巴美列捷福持仓","LU2063271972.USD":"富兰克林创新领域基金","BK4585":"ETF&股票定投概念","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0823414478.USD":"法巴经典能源转换基金","BK4574":"无人驾驶","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","BK4551":"寇图资本持仓","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4592":"伊斯兰概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","TSLA":"特斯拉","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","BK4581":"高盛持仓","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4511":"特斯拉概念","BK4099":"汽车制造商","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD"},"source_url":"https://www.investopedia.com/tesla-stock-tumbles-after-china-gigafactory-slowdown-8603865","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2417106863","content_text":"KEY TAKEAWAYSTesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year.The Chinese Lunar New Year celebrations in February hurt sales, along with increased domestic competition.Tesla continues to use price incentives to boost sales, but Chinese manufacturers such as Xpeng and BYD are matching the strategy.Xiaolu Chu / Getty ImagesTesla Inc. (TSLA) shares fell more than 7% Monday after new sales data showed deliveries from its Shanghai Gigafactory at their lowest level in more than a year due to the recent Chinese Lunar New Year and domestic competition.The automaker reportedly delivered 60,365 vehicles from its China factory in February, according to preliminary data from China’s Passenger Car Association (CPCA) on Monday. That marked the lowest level since December 2022 and was 19% lower year-on-year.Vehicle sales are prone to a seasonal slowdown in China around the Lunar New Year early each calendar year, but the latest figures come amid a backdrop of slower electric vehicle (EV) sales and increased competition in the country.Tesla continued adjusting its pricing strategy earlier this month by offering insurance subsidies to Chinese customers on its Model Y and 3 vehicles. That was in response to other data from the CPCA that showed demand in the country for new-energy vehicles falling 30% in January from December.Tesla is also facing stiff competition from domestic EV rivals such as the Warren Buffett-backed BYD (BYDDY) and Xpeng Inc. (XPEV). BYD said Monday that it was slashing the price of its updated Yuan Plus SUV by 11.8% versus the price of the current version, while Xpeng extended a 20,000-yuan (about $2,780) discount on its top-selling G6 SUV to the end of March.Tesla shares fell 7.2% to close Monday at $188.14. 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