From Morningstar: 2024-04-03 05:45:00

Tesla reported a decline in first-quarter deliveries, with 386,810 vehicles delivered, down 8.5% from the previous year. The company adjusted its forecast to predict flat deliveries for 2024, leading to a lowered fair value estimate of $195 per share. Following the news, Tesla shares fell 5% on April 2, but still remain slightly undervalued.

The decrease in deliveries was attributed to factory shutdowns due to various factors, including production challenges and supply chain disruptions. Despite this temporary setback, Tesla remains focused on long-term growth, aiming to deliver around 5 million vehicles by 2030. The company’s upcoming affordable vehicle launch is expected to drive delivery volume growth and increase profit margins over time.



Read more at Morningstar: Tesla Shares Fall As Sales Disappoint