A dip in Tesla shares by 11.4%  following Reuter's announcement that the company is considering to cut supplies at its factory in Shanghai by the beginning of 2023 which raised concerns that we probably may witness a major drop in the demand.

Tesla's stock touched its lowest level in two years and witnessed the biggest slip in 8 months.

The stock saw a major retreat in its value two months ago as investors concerns hovered around the fact that Chief Executive Elon Musk is quite busy with twitter while worried about selling his share in Tesla.

The trim in Tesla's supplies in Shanghai came amid the surged infected cases with Covid-19 in the country.

The demand worries have been also triggered by the projections of trimmed delivery from Nio, a major Chinese competitor in the market.

The stock encountered a wind of hiked rates and tax losses from funds that include big amount of Tesla's stock.

An analysis conducted by Reuters manifested a major slump in the prices of used Tesla cars with a pace higher than other car manufactures, which is quite affecting the demand on the new released Tesla cars.