UPDATE: Tesla says report of major decline in China Oct sales is 'wildly inaccurate'
Tesla Inc. TSLA, +3.71% said Tuesday a report that China sales fell 70% in October from the year-earlier period is "wildly inaccurate". The report from Reuters cited comments from the Chinese passenger car association, with an official telling the news service that Tesla sold just 211 cars in China in the month. "While we do not disclose regional or monthly sales numbers, these figures are off by a significant margin," a Tesla spokesperson told MarketWatch in emailed comments. Car makers have said that trade tensions between China and the U.S. are hurting their business. In July, China raised tariffs on imports of U.S. cars to 40% as the clash with the U.S. intensified; Tesla imports all of the cars it sells in China. Tesla stock was down 1.5% in early trade, but are up 9.5% in 2018, while the S&P 500SPX, +0.82% has fallen 0.5%.