As Tesla shares fell again, sales in China fell further

As Tesla shares fell again, sales in China fell further

Shares of Tesla Inc. fell as orders for the Chinese electric car maker fell by almost half in May. The stock, which had already fallen by more than 30% from its peak in late January to Wednesday, fell by 5.3% on Thursday. Shares also slipped when a U.S. regulator recalled more than 5,500 vehicles in the 3 and 3 models of the Y, as well as nearly 2,200 Y models, over separate seat belt defects.

Tesla’s net monthly order fell to about 9,800 in China from more than 18,000 in April, The Information, a San Francisco-based technology news company, reported a person familiar with the data. That’s the latest in some reports that seem to suggest a slowdown in sales, taken as one of the most important markets in the industry.

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Dan Levy, an analyst at Credit Suisse Group AG, said on Wednesday that Tesla’s share of electric vehicle sales fell in April – adding that the company had lost ground in China, Europe and the US.

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Tesla has now reminded them of the back. The U.S. National Highway Traffic Safety Administration issued a statement Wednesday that the automaker will inspect, tighten or replace any brake calipers that may be loose on 3,000 and nearly 6,000 Model Y vehicles.

This story has been published without text changes from a wireless agency feed. Only the title has changed.


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