Tesla Stock Is Falling. Blame EV Profit-Taking, Pricing, and China.

BYD disclosed its February deliveries, revealing a 1% YoY drop in all-battery EV sales for January and February. The company experienced a relatively stronger January and a weaker February compared to the previous year. In the broader industry, sales of battery EVs and plug-in hybrids are anticipated to reach approximately 450,000 units in February, reflecting a 9% decline compared to the same period in the previous year.

Given that January and February typically represent slower months for new car sales, drawing definitive conclusions about the year ahead proves challenging. Citi analyst Jeff Chung forecasts a 16% YoY growth in Chinese battery EV sales, projecting around 7 million units for the entirety of 2024.

These figures highlight the fluctuating patterns within the electric vehicle market, influenced by seasonal variations and broader economic conditions. Analyst projections indicate a positive outlook for the Chinese battery EV sector in the coming year, suggesting resilience and potential growth despite short-term fluctuations.

टेस्ला स्टॉक गिर रहा है। इलेक्ट्रिक वाहन लाभ, मूल्य, और चीन को आरोप।