Tesla Faces Declining Sales and Earnings Amidst Production Challenges and Market Competition

As Tesla's stock tumbles in 2024, analysts adjust expectations with lowered sales and earnings forecasts, highlighting a tough year for the EV giant.

Tesla's stock has fallen over 30% in 2024, with first-quarter earnings expected to drop significantly.
Analysts predict a decrease in vehicle deliveries for 2024, estimating around 1.77 to 1.84 million units, below 2023's record of 1.81 million.
Production issues and factory shutdowns contributed to the lowest quarterly deliveries since Q2 2022.
Despite challenges, Tesla continues to focus on its robotaxi and self-driving technology, planning a reveal in August.
Market competition intensifies, particularly in China, where local EV manufacturers are gaining ground.