As Tesla Executive Bemoans EV Adoption Pause In H1'23, Fund Manager Says Reacceleration Coming In 2024 Due To These 3 Factors
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) has not seen a significant increase in volume despite price cuts since January this year. Tesla's VP of Investor Relations, Martin Viecha, expressed concern over the decline in the global EV market in H1 2023. However, Future Fund's Gary Black predicts a recovery in 2024 due to three factors: the $7,500 U.S. EV tax credit going off-invoice, the launch of the Cybertruck sparking interest in EVs, and the advancement of autonomous driving systems. Tesla's stock rose 1.30% to $210 in premarket trading on Monday.
October 30, 2023 | 1:06 pm
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Despite price cuts, Tesla has not seen a significant increase in sales volume. However, a recovery is expected in 2024 due to regulatory changes, product launches, and technological advancements. Tesla's stock rose 1.30% to $210 in premarket trading.
Tesla's stock price is likely to be positively impacted in the short term due to the predicted recovery in 2024 and the recent rise in premarket trading. The regulatory changes, product launches, and technological advancements mentioned in the article are all factors that could contribute to this recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100