China’s new car registrations down 46% month-on-month Tesla shares plunge 12.81%

Tesla shares plunged 12.81 percent to $669 at the close of trading Thursday, after falling 4.17 percent in after-hours trading. Tesla reported a 46 percent drop in new car registrations in China in January. Data disclosed in December showed that Tesla registered 42,715 vehicles in China in 2019, compared with 16,360 in 2018, up about 160 percent from a year earlier.

China's new car registrations down 46% month-on-month Tesla shares plunge 12.81%

Tesla’s new car registrations in China fell 46 percent in January from the previous month,media reported, as the Lunar New Year holiday and the new coronavirus outbreak slowed the pace of car buyers.

Tesla registered 3,563 new cars in China in January, down from 6,643 in December, according to the authoritative China Automotive Information Network. Of the new cars registered in January, 2,605 were made in China.

China's new car registrations down 46% month-on-month Tesla shares plunge 12.81%