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Thursday, September 28, 2023

Future Prospects Looks Brighter For Tesla (TSLA)

According to reports, Tesla’s (TSLA) first quarter actual production and shipment numbers exceeded expectations. As a result of the Model Y crossover’s success and increased demand, the positive recommendation on TSLA stock is justified.

TSLA stock rose by 0.08% to close at $691.62 in the last trading session. The TSLA stock’s shares traded between $681.37 and $696.55. The stock traded 28.27 million shares below its daily average of 40.76 million shares over the 100 days. Last week TSLA’s shares gained 13.14 %, and in the previous month, they had grown by 15.6 %. Moreover, it is currently trading near a price-to-earnings ratio of 1111.93 and a price-to-book ratio of 29.59. Additional, the price to cash flow was 113.13.

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The first quarter saw Tesla produce 180,000 electric vehicles and deliver 185,000 cars to customers. The auto industry is experiencing a shortage of semiconductors, which has caused problems for many automakers. The TSLA stock probably had sufficient chips to ramp up production in the first quarter, but it may still face a second-quarter shortage, slowing supply growth. Demand for the Model Y electric crossover continues to be strong in China, one of Tesla’s key drivers.

According to Morgan Stanley, Tesla’s production capacity will increase to ten plants by 2030, and its production volume will continue to grow. Tesla will now produce 5-6 million cars a year, putting them on par with the most prominent automakers. However, Tesla was one of the first manufacturers of electric vehicles selling in their millions. Even though the leading auto manufacturers are still creating the first mass-produced electric chassis, the TSLA stock has a significant head start.

Stock analysts maintain a positive outlook and high target prices for TSLA shares. Tesla (TSLA) is a company that shows no signs of slowing down, and its cars are in high demand, and it hasn’t had any major technical issues to necessitate costly recalls.

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