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China Could Offset Weakness
While U.S. demand may slow, analysts believe Tesla’s September launch of the six-seater Model Y L in China could cushion the blow. Deutsche Bank analysts noted the Model Y L could drive sales momentum in Asia, though Elon Musk has confirmed the model won’t reach the U.S. until late 2026.
Morgan Stanley believes that the Tesla (TSLA) rally is just getting started. “At $1.3tn, Tesla is by far the smallest market cap of the Mag 7 (ex TSLA ‘Mag 6’ have an average market cap of $3.2tn). This is arguably the largest addressable markets – particularly in the emerging field of physical AI,” highlighted analyst Adam Jonas.
China remains a vital market for Tesla, where price cuts and new models have kept margins tight but competitive.
Tesla Struggles in Europe
Tesla’s European sales have faltered. In August, registrations in the EU and UK fell 22.5% year-over-year, cutting the company’s market share to just 1.5%, according to the European Automobile Manufacturers’ Association. Analysts say the aging lineup, increased competition from hybrids, and Musk’s controversial political stances have dampened buyer sentiment.
