Tesla suffers due to Chinese competition

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Source: Dukascopy Bank SA


The stock price of Tesla has started a decline during this week, as it has been reported that the company's sales in China have plummeted to a low level not seen since early 2023.

Low sales data has confirmed market suspicions that the Chinese consumers have shifted to buying local electric vehicles. Chinese firms have continued to decrease their prices in a price war with Tesla.

The total weekly decline has reached above the 10.00% level. At the start of Tuesday's US trading, the shares traded near the $182.00 level.
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