News on drop of electric-car maker’s vehicle registrations in China affected value of Tesla shares
During January, a half less cars were sold in the most populous country in the world compared to December numbers.
Chinese officials received 3563 requests for Tesla car registration in January. That is 853 cars more on year-on-year basis, yet half the value of December registrations, which was 6613. In reaction to this, Tesla shares dropped in 14% per cent. The drop is further supported by persistent coronavirus epidemic, which significantly affected Chinese economy.
Yet, January registration numbers may not be catastrophic for Tesla. Based on experience, new electric-car registrations in China differ month to month. Tesla usually sells the most of cars on Chinese market in last month of each quarter.
Numbers of registrations are usually low in first months. Such was the case last October, when there were only 763 Musk’s electric-cars registered in China. Therefore, we need to watch out for February and March data.
