OEXN reports: 2023 is coming to an end, and analysts have given Tesla's performance expectations for next year.
Some analysts expect that the withdrawal of subsidies in Europe and the United States in 2024, coupled with the fact that the average selling price of electric vehicles has fallen by 21% since 2022, coupled with the popularity of public power piles and the reliability of batteries have put pressure on electric vehicles to slow demand.
And looking ahead to 2024, many analysts are not optimistic, he pointed out that the intensification of market competition and the decline of subsidies will make Tesla's sales growth and profitability in 2024 likely to be lower than expected.
It is worth mentioning that Tesla was the main target of Wall Street bears at one point, and according to the data, the current net short position against Tesla** is about 186$300 million.
However, some analysts have a different view, expecting Tesla to return to a trillion-dollar market value next year, despite Wall Street's skepticism, and also reiterated Tesla's "outperform" rating and raised its price target from $310 to $350. He also pointed out that Tesla is expected to launch a new model in the next six to nine months, which may contribute to Tesla's gross profit margin improvement.
So what will Tesla be like in 2024?
Analysts at OEXN are cautious, pointing out that Tesla has been in place since the beginning of the year to cut prices, and as interest rates and economic slowdown have stalled domestic EV sales in the United States, China, Tesla's second-largest market, may be uncertain in the face of strong rivals in China.