Reported 1 day ago
Tesla Inc. experienced its largest share decline since 2020, dropping 15% as Wall Street's concerns over the electric car maker's delivery projections grew. Analysts from UBS and Baird lowered their delivery estimates significantly, predicting only 367,000 vehicle deliveries for the quarter, a 16% decrease. Factors like a lack of demand for the Model Y and strong competition from companies like BYD in China have contributed to Tesla's downturn, alongside a notable 70% drop in registrations in Germany.
Source: YAHOO