Tesla's weak sales in China worry investors
CNN
Tesla's recent run of bad publicity in China is apparently hurting its sales there, raising investor concerns.
The electric car leader sold fewer than 26,000 cars in China in April, down 27% from March, according to figures released by the China Passenger Car Association. The drop came as Chinese EV manufacturers such as Nio (NIO), Xpeng, and Li Auto, all reported improved domestic EV sales. Tesla was the target of a protest at China's largest auto show in Shanghai last month by Tesla owners who complained about problems with their cars. The company also has five Chinese regulatory agencies questioning the quality of its Shanghai-made Model 3 cars. And there were reports that China's military had banned Tesla vehicles from entering its complexes, expressing concerns that cameras equipped onboard could be used for spying, a charge Tesla CEO Elon Musk denied.
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