Tesla 2024: 3 things that defined its big year
Published On Dec 21, 2024, 9:00 AM
Tesla had a dynamic year in 2024, driven by a significant recovery in its stock price, increasing over 70% year to date largely due to the election of Donald Trump, who has been supportive of Tesla. Key developments included Elon Musk's announcement of the long-anticipated robotaxi, termed the Cybercab, alongside a push for more affordable electric vehicles (EVs) set to launch in 2025. Although there were challenges like a drop in production growth and heightened competition, Tesla managed to buoy investor confidence by confirming plans for a cheaper EV priced under $30,000. Analysts are optimistic about Tesla reaching a market cap of $2 trillion by the end of 2025, driven by advancements in autonomous vehicle technology and strong demand from China.
Stock Forecasts
TSLA
Positive
Support from the new presidential administration for Tesla's self-driving initiatives is likely to accelerate growth opportunities. Additionally, the upcoming launch of a more affordable vehicle could increase Tesla's market share, particularly in the competitive EV segment.
Related News
Stock market today: Dow, S&P 500, Nasdaq rebound as inflation data improves
Dec 20, 2024, 11:09 AM
Stocks signaled another rough day of trading on Friday after the House of Representatives voted against a Trump-backed spending bill.
Stock market today: Dow, S&P 500, Nasdaq futures sell-off as government shutdown looms, inflation data improves but still sticky
Dec 20, 2024, 8:53 AM
Stocks signaled another rough day of trading on Friday after the House of Representatives voted against a Trump-backed spending bill.
Tesla recalls nearly 700,000 vehicles in US over tire pressure monitoring system issue
Dec 20, 2024, 5:42 AM
The TPMS warning light may not remain illuminated between drive cycles, failing to warn the driver of low tire pressure, according to a recall acknowledgement notice. The problem could result in drivers using the vehicle with improperly inflated tires, increasing the risk of a crash, the notice said. The issue, affecting some Model 3, Model Y and Cybertruck vehicles, will be resolved with an over-the-air software update, Tesla said.