Shares of Tesla Inc. (NASDAQ: TSLA) are trading for less than 2% higher than a week ago, as the EV maker's robotaxi tests get underway and sales figures in Europe continue to disappoint.
Waymo was last valued at just $45 billion, while autonomous technology drives most of Tesla's $1 trillion value.
Despite initial investor enthusiasm surrounding the launch of Tesla's (NASDAQ: TSLA) robotaxi public service on June 22 in Austin, a Wall Street analyst is cautioning that the electric vehicle maker's stock outlook remains shaky.
TSLA's robotaxi launch in Austin sparks safety concerns after traffic breaches trigger a federal probe.
Tesla's new car sales plummeted 27.9% in May from the year before, according to data from the European Automobile Manufacturers Association.
Any remaining excitement over Tesla's robotaxi event could be enough to drown out potentially disappointing delivery numbers.
There have been plenty of rumors that Tesla Inc. (NASDAQ: TSLA) has so many unsold new cars in its inventory that it has run out of space to park them adjacent to its factories.
Tesla Inc (NASDAQ:TSLA) slump in European sales continued in May, deepening concerns over the brand's image and competitive position in a fast-evolving market. The company's new registrations fell 27.9% year-on-year, despite overall battery-electric vehicle (BEV) sales across Europe rising by 27.2%, according to data from the European Automobile Manufacturers Association.
Tesla new car sales in Europe fell 27.9% year-on-year. in May. The U.S. EV maker has sustained brand and reputational damage in part due to CEO Elon Musk's incendiary rhetoric and political activity.
Tesla's (TSLA) sales in the European Union (EU) tumbled for a fifth consecutive month in May, even though overall new battery-electric vehicle (BEV) registrations kept rising.
Tesla started a self-driving taxi service. Wall Street reviews of the launch are mixed.
Chinese carmaker Chery Auto is weighing plans to build a second European production site in the UK as part of a strategy to deepen its local presence. Speaking at the Society of Motor Manufacturers and Traders conference in London, UK director Victor Zhang said that manufacturing in Britain is “actively being considered,” following the launch of its Omoda and Jaecoo brands last year.