Same data: two opposing views.
If you thought the crypto market was all over the place, just take a look at Tesla's recent headlines. The Californian-based EV manufacturer has bounced from one ridiculous headline to the next, including rumors that it's about to open up a restaurant, or the fact that it will no longer accept Bitcoin as payment. Yes, it's difficult to put a finger on the wily EV brand, but despite CEO Elon Musk declaring the cancellation of its latest range-topping model, the Model S Plaid Plus, the company still seems to be selling well, especially on the secondhand market. But what about Tesla's rising dragon, the Chinese market? According to reports, it's either going terribly well or terribly.
Tesla recently revealed its sales numbers for May, and they're not bad: Tesla China sold a total of 33,463 vehicles, compared to only 25,800 vehicles sold in April. This represents a 30% month-over-month increase in sales. Poor sales figures in April can possibly be attributed to a reported shutdown of the Model Y line in Gigafactory Shanghai. According to Teslarati, an unknown source reported that Tesla China's sales had dropped to only 9,800 cars in May, representing a 50% decline in sales. This saw the habitually sensitive TSLA stock drop by over 5 percent. These numbers have since been proven false but show once again how fickle the market is to Tesla rumours.
The official numbers for May did however fail to match the sales figure of 35,478 set in March. While Tesla sales continue to grow in a positive direction, competitors are also starting to show strong growth: Volkswagen accounts for 48% of new energy vehicle sales, and local start-up Nia is also showing great potential. As if fake reporting around sales figures isn't enough, Elon Musk also has to deal with online super-ghost Anonymous accusing him of "destroying lives" during the last crypto fiasco. Good products, bad PR.