Tesla China shipments tumble, the latest sign of weakening demand

[JohnSJ]

"Tesla (TSLA) shipment data out of China is not good, and the latest piece of bad news for the pure EV-maker.

The China Passenger Car Association (CPCA) reported Tesla’s shipments from China fell to 30,688 in February, plunging 49% compared to a year ago, per Bloomberg News, and down more than half compared to January (63,238). Meanwhile, the wholesale sales of new energy vehicles in China for the month hit 840,000 units, up 82% compared to last year.

Tesla stock dropped over 7% in early trade and is down over 30% for the year."

https://finance.yahoo.com/news/tesla-china-shipments-tumble-the-latest-sign-of-weakening-demand-150013459.html

[Hugin]

1. Looks like China has decided to buy local. n/t

[VMA131Marine]

2. At this point, if Tesla went under it would be a good thing

Lots of other competent EV manufacturers in the market now anyway.

Eloon is clearly too busy destroying the government to care about his car company anymore. He is certainly a drag on its stock price.

[JohnSJ]

3. The have a high P/E and a good number of "analysts" seem to be ignoring the competition coming into the market.

However I think an even bigger concern is this administrations anti-environmental energy views, which will put the clean energy burning vehicles as not the path forward, and move consumers back toward hybrids or all internal combustion engines, which would indicate lower sales of all electric vehicles.

[VMA131Marine]

4. That would just set American manufacturers back

compared to the rest of the world.

China has a huge EV market. The EU has a phaseout date for new ICE cars. If American automakers are going to compete in a global market they will need to make EVs.

[JohnSJ]

5. Absolutely, and that pertains other areas also, especially scientific advancements which will be retarded with the

cutting off of grants.