Tesla's China Bounce Was Big — But Not Big Enough
Tesla reported a rebound in wholesale vehicle units in China for December, with 97,171 vehicles sold, marking a 3.6% year-over-year increase. However, total wholesale sales for 2023 were down 7.1% at 851,732 units, indicating the company's first sales decline in China. Increased competition and a transition at the Shanghai Gigafactory contributed to this decline. Despite strong December figures, Tesla faces challenges ahead as investors shift focus to growth initiatives beyond vehicle sales.
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