Tesla Cuts Production in Shanghai Amid Sales Slump and Competition

The electric vehicle giant faces mounting challenges, including a significant stock decline and stiff competition from Chinese manufacturers.

Tesla has reduced production at its Shanghai plant amid sluggish EV sales growth and fierce competition.
The company's stock has declined over 30% since the start of the year, underperforming the broader market.
Analysts have downgraded Tesla's stock, citing concerns over growth and increasing competition, especially from Chinese EV makers like BYD.
Tesla's recent earnings report showed a significant drop in income from operations and a cautious outlook for volume growth.
Some experts suggest it may be time for the Tesla board to consider leadership changes due to Elon Musk's management style.