Updated to correct: This article previously stated that Tesla's yearly vehicle sales forecast was 7,500, and should have read that that is their quarterly sales forecast.
NEW YORK (TheStreet) -- Tesla Motors (TSLA) shares are down -0.3% to $222.66 in after-hours trading on Monday continuing the decline it experienced during trading today.
However, a note from a Barclays (BCS) analyst said that demand for the electric vehicle maker in China should offset any lower European demand the company may face.
The note also predicts that the company will meet its 7,500 vehicle sales forecast for the quarter while estimating that 1,300 vehicles may have already been delivered to China this quarter, citing Chinese media reports.
Must Read: Warren Buffett's 25 Favorite Stocks
CEO Elon Musk hopes to sell 5,000 vehicles in China in the first year, a country projected to represent 35% of global new car sales by 2020, while seeking to grow international sales by 56% this year.
TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation: