Tesla Q1 Worries Mount, Fisker's Pricing Ploy To Stay Alive, Nikola Stock Soars By 57% And More: Biggest EV Stories Of The Week
Mar 30, 2024
Despite the broader market finishing at a record high, the mood in the electric vehicle space continued to be mixed. From established players such as Tesla, Inc. (NASDAQ:TSLA) to startups such as Fisker, Inc. (NYSE:FSR), companies have faced challenging conditions in the industry. Here are the key events that happened in the EV space during the week: Tesla Analysts Temper Targets, FSD Free Trialing And More: This week, more sell-side analysts reduced their first-quarter deliveries target for Tesla. Bullish analyst Daniel Ives from Wedbush reduced his target from 475,000 units to 425,000 units, citing a “perfect storm” of demand issues that hit the quarter, which in turn hurt delivery and sales. The analyst also lowered his price target for the stock from $315 to $300. RBC Tom Narayan from Capital Markets revised his first-quarter sales estimate from 500,000 units to 446,000 units. He attributed this adjustment to a demand pull forward from the expiration of certain Model 3s’ IRS tax credits and the shutdown of Giga Berlin for approximately two weeks. Tesla executive Rohan Patel was active on social media, promoting Tesla’s 30-day complementary trial of the company’s full-self driving software. “Please encourage your friends and family who may have a Tesla to try this free 30-day trial of Supervised FSD,” Patel said on X, formerly Twitter. Patel, who is vice president of public policy and business development at Tesla, said that the progress made by Tesla on the artificial intelligence front is “mind-blowing” and that users will be inspired to either buy the software or subscribe to it after experiencing it during the free trial. RBC’s Narayan said recently that the free trial will help to drive volumes ...Full story available on Benzinga.com
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