Elon Musk's Tesla is exploring showroom spaces in New Delhi, signaling its plans to enter India's growing EV market. Electric vehicles in India currently represent just 2% of car sales.
Tesla on Friday announced it is recalling almost 700,000 cars in the United States over an issue with the tire pressure monitoring system, bringing the total number of recalls for the electric vehicle maker to 15 so far this year, impacting more than 2.7 million cars.
The shares were down more than 5% in Friday's premarket. The reason for the dip is hard to pin down but the CEO's increased involvement with government may be a factor.
Tesla shares slipped 4% in U.S. premarket trading Friday, extending losses from earlier in the week. On Wednesday, Tesla shares slumped 8% to record their worst day since before Donald Trump's presidential election victory.
Tesla is aiming to post slight growth in 2024 deliveries over last year with generous incentives across its EVs - but a lot depends on the success of the new Cybertruck pickup, which is showing signs of weakness, analysts said.
Tesla said on Friday it was recalling nearly 700,000 vehicles in the United States over an issue with the tire pressure monitoring system.
Telsa (TSLA -0.90%) shares have advanced 77% year to date, more than tripling the 23% return in the S&P 500 (^GSPC -0.09%). But Microsoft (MSFT -0.08%) shares have advanced 16% year to date, underperforming the benchmark index by a wide margin.
In the latest trading session, Tesla (TSLA) closed at $436.17, marking a -0.9% move from the previous day.
Tesla (TSLA) has experienced a turbulent year, from unveiling its robotaxi and Optimus robots to its stock surging as CEO Elon Musk emerged as a key figure in President-elect Donald Trump's campaign and cabinet. Yahoo Finance Senior Autos Reporter Pras Subramanian joins Julie Hyman and Josh Lipton to analyze Tesla's three most significant moments in 2024: the company's promise of an affordable EV model, the controversy surrounding Elon Musk's compensation package, and Musk's growing alignment with Trump.
Ark Investment Management CEO Cathie Wood and DealMaker CEO Rebecca Kacaba discuss how they are joining forces to unlock access to venture capital opportunities and their views on President-elect Donald Trump's policies. Speaking on "Bloomberg The Close," Wood and Kacaba also discuss the outlook for Tesla and their views on cryptocurrencies.
Westly Group Managing Partner Steve Westly discusses the future for Tesla under a new Trump administration as the company looks to fast-track its autonomous goals. He joins Caroline Hyde on "Bloomberg Technology" to discuss.
Stellantis N.V. is a deep-value buy despite a poor year, while Tesla, Inc. is extremely overvalued and due for a price correction in 2025. Both companies have similar gross profit margins and EPS forecasts, yet Tesla's stock quote is 36x higher, indicative of irrational market pricing. Stellantis offers substantial value on cash reserves vs. debt, net assets, sizable cash flow generation, and a high dividend yield, making it a safer investment compared to Tesla's overinflated setup.