Tesla Shares Plunge 11% on Concerns About Production Shutdowns in China
<p><a href='https://financialmodelingprep.com/financial-summary/TSLA'>Tesla, Inc. (NASDAQ:TSLA)</a> shares closed more than 11% on Tuesday due to concerns about production shutdowns in China in January. China is a key market for Tesla, and there are growing concerns about declining demand in the face of a challenging macroeconomic environment and increasing competition from domestic electric vehicle (EV) manufacturers. </p>
<p>According to analysts at Wedbush, there are signs that Tesla's sales are slowing in China, including higher inventory levels, price cuts, and production slowdowns. This could lead to the company missing its delivery estimates for Q4/22, with estimates now ranging from 410,000 to 415,000 units, down from previous estimates of 450,000 units. </p>
<p>This is also below the whispers on the Street, which put the estimate at around 435,000 units. According to the analysts, the slowing sales in China and the potential for lower-than-expected deliveries in Q4 could have a negative impact on Tesla's trajectory for 2023.</p>

NASDAQ:TSLA