Tesla Stock Is Slipping Today as Investors Eye Chinese Sales Numbers

Core Insights - Tesla shareholders approved a significant new pay package for CEO Elon Musk, which is expected to influence the company's future direction and growth strategy [1][5] Sales Performance - Tesla's October auto sales in China fell to approximately 26,000 units, marking the lowest level in three years, indicating a decline in market share despite increased shipments to other markets [2][9] - The decline in sales is contributing to a drop in Tesla's stock price, which recently fell more than 2% amid broader market declines [3][4] Investor Focus - Investor attention has shifted towards broader strategic questions following the shareholder vote, although vehicle sales remain crucial as they constitute the majority of Tesla's revenue [4][6] - The recent vote alleviated concerns regarding Elon Musk's commitment to Tesla, allowing the company to focus on ambitious targets, including delivering 20 million vehicles and achieving 10 million active subscriptions for its self-driving software [5][6] Market Context - Despite the drop in sales, Tesla's deliveries in the latest quarter exceeded expectations, although this may have been influenced by the expiration of U.S. subsidies that could have pulled forward demand [7]