Tesla pulls back on stock market after disappointing sales in China

Tesla has been struggling since the start of the week on Wall Street, suffering from disappointing sales figures in China and pressure on the tech sector.

The title of the manufacturer of electric vehicles lost 1.88% Tuesday after having already lost 6.44% the day before.

Currently trading at 615.25 dollars, it is moving more than 30% below its record, reached at the end of January.

“According to data from the China Federation of Individual Car Manufacturers (CPCA), Tesla sold 25,845 electric vehicles in April, down from the 35,478 models sold in March,” Dan Ives of Wedbush said in a note Tuesday. Securities.

However, these figures are clearly up from those of January and February.

“In addition, it seems that Tesla has interrupted its plan to buy additional land to expand its mega-factory in Shanghai in view of the resurgence of Sino-American tensions and the questions of tariffs that will arise,” adds M .Ives.

The analyst believes, however, that Tesla’s trajectory in China is clearly upward, going so far as to forecast annual sales of more than 300,000 models by 2022.

Like the entire auto industry, Tesla is also affected by the global semiconductor shortage, which is slowing its pace of production and deliveries.

In addition, the company finds itself heckled on the stock market just like the big names in the tech sector, such as Apple, Facebook or Microsoft.

In the United States, Tesla is under investigation after a fatal accident involving one of its vehicles in Texas in April.

In a preliminary report released on Monday, a US road safety agency concluded that the Autopilot driver assistance software could not be engaged at the time of the collision.

The whimsical Tesla boss Elon Musk, who made a highly commented appearance on the satirical comedy show Saturday Night Live on Saturday night, has repeatedly claimed that Autopilot was not involved in the crash.


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