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DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Tesla has been experiencing a notable decline in its market share in China, dropping from 10.5% in the first quarter of 2023 to approximately 6.7% by the end of December, and further slipping to around 6.6% in Jan-Feb 2024 from 7.9% a year ago. This decline has been attributed to a combination of factors including increased local competition and a weakened consumer sentiment within the country. The situation has been further compounded by Tesla's global performance, with the company delivering fewer vehicles than expected in the first quarter, disappointing investors worldwide.
"Confronted w/ unprecedented local competition and weakened consumer sentiment in China Tesla’s market share shrank to 6.7% for the quarter ended in Dec from 10.5% in Q1 2023..figures for Jan-Feb 2024 show its share slipped to around 6.6% v 7.9% year-ago" https://t.co/cobcEOEba9
"Confronted with unprecedented local competition and weakened consumer sentiment in Asia’s largest economy, Tesla’s market share shrank to around 6.7% for the quarter ended in December, from 10.5% in the first quarter of last year" https://t.co/NsVxA2ovN6
$TSLA (-1.3% pre) Tesla’s Shrinking China Market Share Compounds Global Woes - BBG https://t.co/myrnRlKsJc
