Telsa is overdue for a bounce
Analyst consensus also has Tesla delivering 2.1 million vehicles in 2024. Auto gross profit margins, excluding regulatory credits, should come in at 16.5%, according to FactSet.
Wall Street's profit revisions for TSLA come as Tesla's EV business is facing increased competition outside the U.S., potential demand woes, falling margins and the loss of tax credits for at least some models in the U.S., France and Germany.
But Tesla stock bulls are still betting that a Cybertruck "halo effect," falling interest rates and the U.S. launch of the Highland Model 3 will buoy sales and steady margins. That, along with the hoped-for unveiling of a $25,000 vehicle to drive growth in 2025 and beyond, could keep TSLA stock in high gear in 2024.
Wall Street's profit revisions for TSLA come as Tesla's EV business is facing increased competition outside the U.S., potential demand woes, falling margins and the loss of tax credits for at least some models in the U.S., France and Germany.
But Tesla stock bulls are still betting that a Cybertruck "halo effect," falling interest rates and the U.S. launch of the Highland Model 3 will buoy sales and steady margins. That, along with the hoped-for unveiling of a $25,000 vehicle to drive growth in 2025 and beyond, could keep TSLA stock in high gear in 2024.
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