The automaker sold just over 60,000 vehicles in China in February, down 19% on February 2023 and the lowest figure since December 2022. This data, published by the passenger car industry's umbrella organization, reinforces fears about the EV market. Tesla, whose vehicles are beginning to look a little dated in the face of the Chinese onslaught, has had to come to terms with adopting new pricing incentives, particularly with regard to insurance.

BYD, its main local competitor, was quick to respond by reducing the price of its most popular model. The price war continues in the EV sector.

Tesla shares significantly underperform the Nasdaq over one year

Tesla shares have already lost 24% of their value this year. It lags far behind the other "magnificores", the technology stocks that have driven up the indexes of late. The automaker's story of infinite growth has broken with the launch of a price offensive and the multiplication of EV manufacturers.