"Tesla has seen its core business get eviscerated, hitting a four-year sales low in the United States earlier this year, with no signs of imminent recovery."
"HSBC stock analyst Mike Tyndall reiterated a 'reduce' rating on Tesla, expecting shares to fall from around $365 to just $131 over the next year."
"Tesla is struggling to ramp up production of its two-seater Cybercab, a key component of CEO Elon Musk's efforts to establish a robotaxi service."
"The company is also struggling to get its Full Self-Driving feature approved abroad, with a key test currently pending in the Netherlands."
Tesla is experiencing a significant downturn in its core EV business, hitting a four-year sales low in the U.S. and facing a nearly 20% drop in share price. Analysts predict further declines, with HSBC's Mike Tyndall projecting a fall to $131 per share. The company is under pressure from increasing competition in the EV market and struggles with production of its Cybercab. Additionally, Tesla's Full Self-Driving feature is pending approval in Europe, which could impact its future growth.
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