Shares in Tesla dropped more than 7 per cent on Monday after shipments from the electric-car maker’s China factory hit a 14-month low in February, amid disruption from the lunar new year and a price war.
Tesla delivered 60,365 cars from its plant in Shanghai last month, the lowest since December 2022, preliminary figures from the China Passenger Car Association showed on Monday. That represented a 19 per cent year-on-year decline and down 16 per cent from 71,447 units in January.
Last week, Tesla rolled out a fresh round of incentives worth up to Rmb34,600 ($4,805) to lure Chinese consumers into snapping up its existing inventories of the Model 3 sedan and Model Y SUV.
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