Tesla's market value fell below a trillion US dollars, and auto stocks such as Ideal, Xiaopeng and Great Wall collectively declined

Text/Forbes China

Image source: Visual China

On December 14, the auto concept stocks of the two cities of AH shares collectively fell. In terms of A-shares, as of press time, Jianghuai Automobile (600418.SH) fell nearly 8%, and Foton Motor (600166.SH), Guangzhou Automobile Group (601238.SH), CIMC Vehicle (301039.SZ), Changan Automobile (000625.SZ), Great Wall Motor (601633.SH) and so on.

In terms of H-shares, as of press time, Ideal Automobile (02015.HK), Xiaopeng Automobile (09868.HK), guangzhou automobile group (02238.HK) all fell by more than 3%, and Great Wall Motor (02333.HK) fell by more than 2%.

At the close of U.S. stocks last night, Tesla plunged nearly 5 percent to close at $966.41, with a total market capitalization of $970.5 billion, falling below $trillion and setting a new low since Oct. 22. Previously, Tesla hit a record high of $1243.49 on November 4, and has since gone into decline, and its stock price is currently down 23% compared to its highest point, and its market value has evaporated by tens of billions of dollars.

At the same time, Musk's continuous reduction has also become a hot topic in the industry, which is likely to be one of the main reasons for the fluctuation of Tesla's stock price.

In addition, Tesla has also suffered a recall recently. On December 3, the State Administration for Market Regulation announced that from now on, Tesla (Shanghai) Co., Ltd. will recall some domestically produced Model Y electric vehicles with production dates from February 4, 2021 to October 30, 2021, totaling about 21,599 vehicles.

As the "bellwether" of the world's new energy vehicles and new car-making forces, Tesla's every move has had a great impact on the entire global industrial chain, and the capital market is naturally affected. However, as the sales of new energy vehicles continue to rise, the entire domestic automotive industry chain will benefit from this, and the follow-up prospects can be expected.