Elon Musk’s firm reported this Tuesday that it delivered 484,507 vehicles during the fourth quarter and 1.81 million in 2023, exceeding its goal of 1.8 million. However, something else worries investors.
Thus, data published by Tesla reveal that, for the first time, its sales in the fourth quarter of this year were below those of the Chinese company Build Your Dreams (BYD).
Tesla (TSLA) fourth-quarter deliveries topped Wall Street predictions as the global electric vehicle giant sold a record number of cars and met full-year expectations.
However, the reaction among analysts has been moderate, as Wall Street appears to be focused on year-end financial results and potential profitability difficulties in 2024. In this context, TSLA shares fall more than 5% and record their fourth day of precipitation in a row and affecting the NASDAQ, which falls for the second consecutive day.
Elon Musk’s firm reported this Tuesday that it delivered 484,507 vehicles during the fourth quarter and 1.81 million in 2023, exceeding its goal of 1.8 million. After this, the rating agencies maintained their price and rating targets on TSLA.
Tesla: the competition the company faces
Despite Tesla’s record deliveries in 2023, Chinese rival BYD (BYDDF) It surpassed Tesla in battery electric vehicles for the first time, with BEV vehicle sales of 526,409 in the fourth quarter.
Thus, data published by Tesla reveal that, for the first time, its sales in the fourth quarter of this year were below those of the Chinese company Build Your Dreams (BYD).
“Outside of China, we find it difficult to see anyone who can compete with Tesla at this stage,” Morgan Stanley analyst Adam Jonas wrote on Wednesday.
“We don’t think it’s a coincidence at all that Tesla’s ‘increase’ of engagement with foreign countries occurs at a time when China has overtaken Japan as the largest exporter of passenger cars,” Jonas added.
Source: Ambito
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