Tesla’s orders in China are reduced by half, shares by 5%

An internal data shows that Tesla’s orders in China have dropped the last month by 50% from about 18,000 in April to 9800. The shares of the company have subsequently lessened by 5%. China is the second-largest market for Tesla and accounts for 30% of the sales made by the company.

Models 3 and Y were a big hit in the Chinese market for electric cars. A number of reasons have been speculated for these effects including increased safety concerns and consumer complaints that have been reported in the last few months, growing political tensions between America and China and increased government scrutiny on the U.S. electric carmaker.