01:06 PM EDT, 04/03/2024 (MT Newswires) -- Tesla (TSLA) is launching a loan program with 0% interest in China for a limited time to shore up some momentum in the Chinese automotive market, Electrek reported Wednesday.

The electric vehicle maker's market share in 2023 dropped to around 6.7% from 10.5%, the new outlet that covers the EV market reported, citing Bloomberg.

Tesla said Tuesday it delivered 386,810 vehicles in Q1, significantly below the Bloomberg Consensus estimate of 449,080.

The company did not immediately respond to MT Newswires' request for comment.

Shares of the automaker were up 1% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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