Tesla's China car registrations plunge 64% month-on-month in April
- S&P 500 ends slightly lower after jobs report
- U.S. job juggernaut rolled on in November; nonfarm payrolls up 263,000
- We are selling risk rallies - Bank of America's Hartnett
- United Airlines (UAL) nearing deal to order dozens of Boeing 787 Dreamliners - WSJ
- Meta Platforms says metaverse could contribute over $3 trillion to global GDP by 2031
A man wearing a face mask following the coronavirus disease (COVID-19) outbreak walks by Tesla Model 3 sedans and Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai, China May 8, 2020. REUTERS/Yilei Sun
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
BEIJING (Reuters) - U.S. electric vehicle maker Tesla Inc (NASDAQ: TSLA) suffered a slump of 64% in car registrations in China in April on the month, data from auto consultancy LMC Automotive showed.
Tesla's China registrations, including imported cars, fell to 4,633 units, from 12,709 in March. Its sales are usually lower in the first month of each quarter than in the remaining two.
Data from China Passenger Car Association shows sales of Tesla's Shanghai-made Model 3 sedan hit 3,635 units last month.
Tesla did not immediately respond to a request for comment.
Tesla expects to make 4,000 units a week in June and start mass production of Model Y sport utility vehicles in the first quarter next year, its vice president, Tao Lin, told the official Xinhua news agency in an interview.
(Reporting by Yilei Sun and Brenda Goh; Editing by Himani Sarkar and Clarence Fernandez)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) delivers first EV Semi-truck; no update on output or pricing
- Morgan Stanley reiterates Overweight on Tesla (TSLA) as EV market faces pressure
- Dow futures down 55 pts; caution ahead of payrolls
Create E-mail Alert Related CategoriesCorporate News, General News, Reuters, Trader Talk
Related EntitiesTesla, Model 3
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!