TAKEAWAYS Tesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year. The Chinese Lunar New Year celebrations in February hurt sales, along with increased domestic competition. Tesla continues to use price incentives to boost sales, but Chinese manufacturers such as Xpeng and BYD are matching the strategy.
TAKEAWAYS Tesla shares fell Monday after data from the China Passenger Car Association showed deliveries from its Shanghai Gigafactory at their lowest point in more than a year. The Chinese Lunar New Year celebrations in February hurt sales, along with increased domestic competition. Tesla continues to use price incentives to boost sales, but Chinese manufacturers such as Xpeng and BYD are matching the strategy.