Tesla Stock Edges Lower Following Solid August China Sales Data

Tesla (TSLA) stocks fell Thursday on data from China pointing to a solid improvement in sales and exports in August as production at the main factory in Shanghai accelerated from the summer lull.

Tesla sold 77,000 Chinese-made cars last month, the China Passenger Car Association (CPCA) said Thursday, up 74% from the same period last year.

The August numbers, while also solidly higher than the total of 28,000 recorded in July when Tesla’s Shanghai giga plant was not used for scheduled maintenance, essentially only matches the June number of 78,000 and suggests growth rates may be challenging. will be in the world’s largest auto market as the economy slows and buyers cut spending.

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