March 04, 2024 From Investing.com:

Shares in Tesla fell over 7% after a sales decline in China during February, with 60,365 China-made vehicles sold, down 19% from last year. Tesla’s global deliveries outlook is dimmed, facing slowing demand, competition, and limited product line-up. Tesla shares ended the day down 7.2%, with concerns over demand in China. Analysts worry about Tesla’s global deliveries forecast due to the weak China sales. In response, Tesla introduced new incentives in China and reduced prices of some Model Y cars in the U.S. BYD, a Chinese rival, also lowered prices and saw sales drop 37% in February. Tesla offered free Supercharging miles in the U.S. for trade-ins to boost sales. Tesla previously warned of lower sales growth this year as it focuses on cheaper EV production.

Read more at Investing.com: Tesla shares skid after China sales fell to the lowest level in over a year By Reuters