Premarket trading on Monday saw a 5.6% drop in shares of Tesla Inc. , -0.25%, following data that showed China’s growth in car sales in March. The stock of Tesla Inc. plunged 10.8% in the last four sessions. This would be the longest losing streak since Dec. 27, 2022’s seven-day streak. According to a Dow Jones Newswires report , the China Passenger Car Association reported that passenger car sales in China increased 0.3% to 1.59million in March, compared to 10.4% growth in February. According to the report, sales for the first quarter fell 13.4% compared with a year ago. January sales dropped 38%. The report said Tesla made $18.15 billion from China in 2022. This represents 22.3% of its total sales. Shares of Nio Inc. -0.56% fell 0.9%, Xpeng Inc. XPEV lost 0.7%, and Li Auto Inc. -2.33% lost 1.0%. Tesla’s stock rose 50.2% in 2023 to Friday. The S&P 500 SPX has gained 6.9%.