00:00Tesla's share price jumped yesterday after the carmaker posted a less drastic decline in vehicle
00:04sales than investment analysts feared. The company's vehicle deliveries during the last
00:09three months is down 13% compared to a year earlier. While that leaves Tesla with a lot
00:14of room for improvement to avoid another annual drop, some investors were braced for a more than
00:1920% plunge. Although Tesla's share price rose yesterday morning, it's still down about 22%
00:26for the year. The sales figures run counter to Elon Musk's claim in mid-May that Tesla's car
00:32business had recovered from an early-year slump, driven in part by backlash over his work in the
00:37Trump administration and Musk's very public argument with Trump over social media. Tesla was counting on
00:43a boost in the quarter from the redesigned Model Y sport utility vehicle, by far its most important
00:50product and critical to fend off competitors such as BYD from China who have been gaining significant
00:55share of the electric car market. Most analysts now expect Tesla to report its second consecutive
01:02annual decline in vehicle sales. Analysts surveyed by Bloomberg are on average projecting the company
01:07will deliver around 1.7 million vehicles in 2025, down from 1.8 million last year. And sales could be
01:15further challenged toward the end of this year if Congress passes the President's multi-trillion
01:20dollar spending bill that would eliminate tax credits for EV purchases. Although Tesla faces
01:26some challenging times ahead, the stock remains on my watch list, particularly as they look to build out
01:31and grow their driverless taxi service offering. If you found this video helpful, please subscribe to
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