Chinese automakers are creating more problems for Tesla

The China Passenger Car Association says in a special report that the sales of Tesla cars produced in this country in September 2023 (September 1402) have dropped compared to the previous year. In response to this report, the value of Tesla shares decreased by 2%.

written by ReutersTesla managed to sell 74,073 electric cars in China this September. Sales of Tesla Model 3 and Tesla Model Y cars in the last month were 12% less than in August. Tesla exports most of the cars produced in China to other countries.

The drop in Tesla shares comes as the automaker released its sales report last week. Tesla said in its report that it appeared weaker than analysts expected due to summer shutdowns to upgrade factory production lines. Tesla wants to produce 1.8 million cars this year.

In recent months, the automobile company Elon Musk Car Prices has reduced several times. In the latest example, Tesla reduced the price of Tesla Model 3 and Tesla Model Y cars last week. The drop in the price of Tesla cars is the result of increasing competition from Chinese car manufacturers. Needless to say, Tesla’s new financial report will be published next week.

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