Bloomberg Technology Tesla's Disappointing Sales
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Jan 2, 2025 Keith Buchanan, a Senior Portfolio Manager at Global Investments, shares insights on Tesla's troubling trends as the company faces its first annual sales decline in a decade. He discusses the impact of increased competition and a shocking Cybertruck incident that has shaken consumer trust. Additionally, Buchanan explores broader market dynamics and the likely political influences affecting Tesla’s future growth. The conversation also touches on the ongoing debates about AI applications, revealing the crucial differences between genuinely useful tools and mere hype.
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Tesla's Sales Decline
- Tesla's annual vehicle sales dropped for the first time in over a decade, totaling 1.79 million in 2024.
- Increased competition, especially in China, and a maturing EV market contribute to this decline.
Growth Predictions vs. Reality
- Despite the sales decline, Elon Musk predicts 20-30% growth for Tesla in 2025, driven by a cheaper EV model.
- Analysts remain skeptical, citing the need for deep discounts and tough competition in the EV market.
Political Risk for Tesla
- Elon Musk's political alignment with President-elect Trump may alienate some potential customers.
- This political risk is likely already factored into Tesla's current stock price.