Tesla (TSLA, Financial) saw a 4.4% decline in pre-market trading after a 22.7% surge. Recent data from the China Passenger Car Association indicates a drop in Tesla's wholesale sales in China by 11.5% year-over-year in March, totaling 78,828 units. The company's exports from China were also down, with 4,701 units, an 82.3% decrease compared to the same period last year, although higher than February's 3,911 units.
In addition, Benchmark has revised its price target for Tesla, reducing it from $475 to $350, while maintaining a "buy" rating for the stock. These developments add to the market volatility for Tesla as it navigates challenges in one of its largest markets.
