Tesla Shares Slide On Word Of Slow Model S Demand In China
PALO ALTO (CBS SF) - Tesla is getting hammered on a report that its new Model S registrations in China fell 45-percent in February from the month before.
Research firm JL Warren Capital reports that Tesla imported 63 Model S's to China last month, which was a big rise from January's meager total of ten, but well off the pace in the fourth quarter of 2014.
Tesla CEO Elon Musk has chided investor reaction to monthly registration reports, and has maintained that even if his company doesn't sell a single car in China this year, Tesla's sales will still hit $55,000 for 2015, abut $23,000 more than what it did last year.
TSLA was down nearly 8 percent in afternoon trading.
