Tesla shuts down its first showroom in China - Reuters
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In a bid to adjust its sales and service strategy in its second-largest market, EV giant Tesla (NASDAQ:TSLA) closed its flagship showroom in Beijing's Parkview Green, an upscale downtown shopping center, late last week, Reuters reported, citing sources.

Reuters reported earlier that Tesla had been considering closing some high-profile sites due to dwindling foot traffic amid COVID restrictions in China.
The Beijing showroom opened in 2013 and was the company's first one in China.
It was renovated in 2018 and expanded to occupy two floors of the mall. But the company decided not to extend the contract.
TSLA currently owns and runs more than 200 outlets across the country that display models and arrange test drives for potential buyers.
Recently, Tesla has cut prices for its Model 3 and Model Y cars by as much as 9% in China, reversing a trend of price increases across the industry amid signs of softening demand.
The company sold 318,151 vehicles in China in the first nine months of 2022, up 55% Y/Y.
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Shares are marginally down premarket.