Keep an eye on Tesla (TSLA).
Down but not out, it could benefit from accelerating electric vehicle sales this year.
For 2024, EV industry sales are expected to increase anywhere from 20% to 30%. Plus, according to Michelle Krebs, executive auto analyst for Cox, “EV sales are increasing faster than any other segment in the industry.”
Better, TSLA sales could accelerate with the potential for newer, cheaper electric vehicles. As noted in a first quarter earnings report, “We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025.”
“These new vehicles, including more affordable models, will utilize aspects of the next generation platform as well as aspects of our current platforms, and will be able to be produced on the same manufacturing lines as our current vehicle line-up,” they added.