Tesla stocks post weekly losses as a Chinese slump
It was a tough week for Tesla stocks.
EV Giant stock recorded a loss of more than 10% each week, pointing to a third-party report on Friday that fell 3.3% on the last trading day of the week, pointing to a slump in China’s delivery.
Tesla (TSLA) China’s sales fell 11.5% year-on-year in January, but BYD sales of Chinese competitors skyrocketed 47% per year, according to data from the China Passenger and Automobile Association released Friday.
The data also showed that distributions of Tesla Model 3 and Model Y vehicles, made in China, fell 32.6% from December. Tesla 0% interest plan extended Sales will be promoted until January. Last year, the company Reduce vehicle prices in China and other markets.
Development comes after individual registered data indicates Tesla sales Germany It has plummeted to its lowest level since 2021. Sales in other European markets have also slumped, causing investors to wonder whether CEO Elon Musk’s involvement in politics is turning off potential buyers.
Teslastock became one of the biggest winners of the “Trump Trade” following the November presidential election as investors suspected that investors would benefit from close ties with Musk with President Donald Trump. Ta.
Tesla is declining annually, but since November 5th, on election day, stocks have still grown by more than 40%.
On Thursday, the Department of Transport said it would suspend federal funds for the construction of electric vehicle chargers through the United States. The agency said it would consider the policy and said new guidance is expected this spring.
Stock Charge Points for billing station manufacturers (chpt), flashing (blnk), and evgo (Evgo) Everything rolled.
Tesla is reported I received an estimated $31 million Funding through the programme as a charging station deployment was an important hurdle for widespread adoption of EVs.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her with X @ines_ferre.
For a detailed analysis of the latest stock market news and events moving stock prices, click here
Read the latest financial and business news from Yahoo Finance