Here's why Tesla is declining
$Tesla(TSLA.US$ After reporting a 3% increase in sales in the fourth quarter of last year, it recorded an alarming 9% decline in sales in the first three months of 2024. From a consumer perspective, the rising cost of borrowing makes buying a new car much less affordable. Furthermore, Tesla has recently had to deal with tough competition, where well-funded Chinese EV manufacturers are making the situation difficult.
Tesla ratings. The stock price is currently trading at a high price-earnings ratio of 46.2 times, even though it has fallen 56% from its record high.
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