Tesla may be much worse off in China than anyone thought

Tesla's Chinese sales last month were much weaker than they originally appeared.

Although Tesla does not report monthly sales or regional revenue, the China Passenger Car Association earlier this week estimated Tesla's Chinese sales were down 27% from March to just under 26,000 cars — much worse than the overall 10% decline in China's electric vehicle sales overall. But that's not the full story: The trade group later clarified that its April figure includes sales of vehicles built in China but exported to other markets. More than half of the Teslas initially reported as Chinese sales — 14,174 — were exported.