Tesla's China-made EV sales slump 18% in April amid challenges from BYD & others
India, May 8 -- U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, lagging the broader market's surge, China Passenger Car Association (CPCA) data showed on Tuesday.
Tesla shares fell 3.8% on Tuesday, amid concerns about softening demand for Tesla EVs and an intensifying price war, especially against Chinese rivals.
Tesla's China-made cars, which accounted for over half the automaker's global deliveries last year, are also exported to various markets including Europe and the CPCA didn't provide a breakdown of Tesla exports by destination. Tuesday's numbers are a prelude of full data for April due out later this week.
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