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.
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.
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