The Chinese carmaker BYD outsold Tesla in Europe's BEV segment for the first time in April. But markets see Tesla's long-term potential and ETFs still hold it as a top holding.
Tesla (TSLA) has made an impressive comeback, rallying 40% from its lows and rejoining the $1 trillion club thanks to robotaxi hype, technical momentum, and eased US-China trade tensions. Strong bullish trends and a triple bottom formation suggest a continued uptrend, but challenges in China remain.
Tesla's China-made EV sales dropped 6% in April, exports to markets like Europe & China accounted for majority. Tesla faces competition from Chinese rivals, while expanding to India & Saudi Arabia. Q1 deliveries & production also down amid disruptions and weakening demand. Stock down 0.77%.
The company logged sales of 372,615 new-energy passenger vehicles and 7,474 commercial vehicles during the month, including the 79,086 vehicles sold outside China.
Sen. Elizabeth Warren requests answers from Apple Inc. CEO Tim Cook over alleged influence-peddling between Apple and Trump administration in trade negotiations with China. Tech companies release mixed earnings results.
The company reported a net profit attributable to shareholders of RMB 9.15 billion ($1.26 billion) on Friday, up from RMB 4.57 billion in the corresponding quarter of 2024, and aligning with its estimates provided earlier this month.
