Overview
- Morgan Stanley cut Tesla to Equal Weight and warned of a potential EV winter, forecasting 15.9 million U.S. light‑vehicle sales next year with EV volumes down about 20% and battery‑electric share near 6.5%, while lifting its price target to $425.
- Piper Sandler reiterated an Overweight rating with a $500 target, citing FSD Community Tracker data showing a greater than 20x jump in miles to critical disengagement after the October v14.1.x release.
- U.S. November deliveries were about 39,800, the lowest monthly tally since early 2022, while Europe saw nearly a 50% year‑over‑year drop in October and data providers project roughly a 7% global decline in 2025 deliveries.
- Elon Musk signaled plans to remove safety monitors from an Austin robotaxi fleet within weeks, a move that investors view as a step toward broader autonomous operations pending execution and approvals.
- The valuation debate intensified as Tesla traded around 307 times trailing earnings, with critics such as Michael Burry calling the stock ridiculously overvalued and bulls pointing to AI and robotics optionality.