From Nasdaq: 2024-04-28 12:37:00

Tesla (NASDAQ: TSLA) had a disappointing quarter due to slowing EV sales growth, leading to a nearly 40% stock decline in 2024. Despite this, Tesla plans to release a more affordable EV option and expects to sell more vehicles in 2024 than in 2023.

The energy segment at Tesla is thriving, with margins reaching a record 24.6% and energy storage deployments expected to grow by at least 75% in 2024 from 2023. This growth indicates a significant opportunity for investors in the energy storage market.

Elon Musk is focusing on automation and the potential launch of a robotaxi service or Cybercab. Tesla plans to expedite the production of a new low-cost model by utilizing existing manufacturing lines and conserving cash, which could provide a future growth opportunity for investors.

Investors interested in Tesla should consider the company’s future prospects beyond EV sales, including the energy business and potential automation projects like a robotaxi service. Despite challenges, Tesla remains a strong contender in the EV and energy market for long-term investors.



Read more at Nasdaq: Is Tesla the Best Electric Vehicle (EV) Stock for You?