Tesla: orders in China halve, the stock plummets

China is increasingly proving to be a problem for Tesla, rather than an opportunity. the automaker saw its sales devastated in China, down 50% from the previous month

Scoop: Tesla's China orders down by 50% in May, we are told based on internal data. The company's China crisis continues. $ tsla @JuroOsawa https://t.co/sx67ACv8un

– Jessica Lessin (@Jessicalessin) June 3, 2021

Especially after the controversy following the protests at the Shanghai show for the weakness of the brakes, Tesla has lost its luster against other competitors in the electric car sector.

All of this had a devastating effect on the stock market:

Things could even be worse for Tesla in China in the future. Some local governments are looking into the purchase of Tesla vehicles among their staff, citing vehicles that pose potential safety risks, according to Bloomberg .

As we have reported, government agencies have been asked to monitor and report on employees who own Tesla in Zhejiang and Guangxi. Employees are "prohibited" from driving in certain official areas, due to alleged safety risks, the report noted.

Other official Chinese bodies are following suit. The Chinese Meteorological Administration, for example, has already told its employees not to buy Tesla electric vehicles and, if they have already done so, to transfer ownership of the vehicles. The Chinese Communist Party's Propaganda Department (yes, that's actually what it's called) is also "checking whether employees or their families own Tesla." In short, a real war on Elon Musk's cars that risks heavy punishment from his eastern investment.

---

---

The Tesla article : orders in China are halved, the title falls comes from ScenariEconomici.it .

---

This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/tesla-gli-ordini-in-cina-si-dimezzano-il-titolo-precipita/ on Thu, 03 Jun 2021 21:27:56 +0000.