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Tesla (TSLA) Q4 and FY 2023 earnings call: How analysts are reacting

Credit: Tesla Asia/X

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Tesla (NASDAQ:TSLA) took a steep dive on the heels of the company’s Q4 and FY 2023 earnings call, dropping over 9% as of writing. With the company stating that volume growth would be tempered this year due to its focus on the next-generation platform and executives being quite vague about its guidance for 2024, analysts, including some TSLA bulls, are not happy. 

Tesla actually had a record 2023, with vehicle sales growing nearly 40% year-over-year in 2023 to over 1.8 million units worldwide. Wall Street currently expects Tesla to post about 2.1 to 2.2 million vehicle sales for 2024, which would translate to a growth of about 20%. This number seems conservative and attainable enough, but Tesla simply maintained that its volume growth would be substantially lower than 2023’s ~40%. 

Wedbush analyst Dan Ives shared his sentiments about Tesla’s earnings call, in a post on X. Ives described the call, which provided some high-level long-term views on the company, as another “train wreck” conference call. Following the earnings call, Ives adjusted his price target for Tesla from $350 to $315 per share, though he also noted that Wedbush remains bullish on the company.

“We were dead wrong expecting Musk and team to step up like adults in the room on the call and give a strategic and financial overview of the ongoing price cuts, margin structure, and fluctuating demand. Instead, we got a high-level Tesla long-term view with another train wreck conference call,” Ives noted. 

RBC analyst Tom Narayan also maintained his “Buy” rating on Tesla, though he lowered his price target from $300 to $297 per share. “We leave our delivery estimates unchanged after the vague guide, but lower our car gross margin expectations on less robust cost down opportunity,” he noted in a report. Narayan also pointed out that Tesla’s next-generation vehicle platform is still “many quarters away” from impacting the company’s numbers. 

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Morgan Stanley’s Adam Jonas, for his part, pointed out that Tesla almost did not provide any guidance during the call. He also observed that there were no “AI rabbits” pulled out of Tesla’s hat during the call, which was highlighted by Musk’s conservative comments about Dojo. Despite this, Morgan Stanley opted to maintain its “Overweight” rating and $345 price target on Tesla, with a bear case PT of $100 and a bull case PT of $500 per share.  

While the sentiments surrounding Tesla’s Q4 and FY 2023 earnings call seem generally negative, some analysts opted to take a more optimistic stance on the company. Canaccord lowered its price target for Tesla from $267 to $234 per share, though the firm also noted that it is time for investors to be patient about the company. The firm noted that it remains bullish about Tesla’s long-term prospects. 

“It’s time to be patient. The next-generation vehicle, FSD upgrades, margin improvement, and Optimus will likely bring an acceleration in revenue growth. But not this year — 2024 will be subdued; probably a trough, but still relatively slow (we model ~18% y\y revenue growth). Growth curves are seldom smooth, and Tesla is no different. 

“We are still quite bullish on Tesla’s long-term growth prospects. We think EVs will replace ICE vehicles despite recent countervailing narratives. We see vehicle autonomy as one of the highest value-creating technologies to be deployed. Ever. And Tesla, with its razor/ razorblade approach, is a leader in this real-world AI. We think Tesla is Apple on steroids as it focuses on manufacturing and a higher level of vertical integration. Tesla is THE sustainability behemoth, in our opinion,” the firm noted. 

Longtime Tesla bull Gene Munster of Deepwater Asset Management also pointed out that Tesla’s auto gross margins for the past quarter ended a streak of dropping margins. “The critical metric, auto gross margins ex credits, came in at 17%, compared to the Street at 17.3%. I was expecting 16.7%. While this missed the Street, it marks the end of four consecutive quarters of margin decline, up from 16.3% in the Sep-23. Over, this is a positive,” Munster wrote on X. 

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla China roars back with highest vehicle registrations this Q2 so far

Tesla China’s 80% week-over-week growth was the most notable among Chinese EV brands.

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Credit: Tesla China

Tesla China saw a notable rise in new vehicle registrations in the week of June 9 to 15, 2025. During the week, Tesla China’s registrations saw an impressive 80% week-over-week increase, resulting in the electric vehicle maker posting its highest insurance registration figures this Q2 so far. 

Tesla China Roars Back

During the week ending June 15, 2025, Tesla China saw 15,500 insurance registrations. This represents an 80% increase from the previous week’s 8,640 units. This is also the highest number of registrations that Tesla has posted in China for the past ten weeks, as noted in a CNEV Post report.

Tesla watchers have observed that the electric vehicle maker’s 80% week-over-week growth was the most notable among Chinese EV brands. Following Tesla was Xpeng, which saw a 52% week-over-week growth to 6,400 registrations, and Nio, which saw a 9.3% week-over-week increase to 4,700 registrations. 

Tesla China does not report its weekly vehicle registration figures, though the company’s overall performance in the Chinese auto market can be inferred through new vehicle registration data. Fortunately, these registrations are closely tracked and reported by industry watchers, as well as automakers like Li Auto.

Tesla Model Y Impact

Industry watchers estimate that Tesla China was able to deliver 11,200 new Model Y units to customers in the week ending June 15. This represents a week-over-week improvement of about 85% from the previous week. This bodes well for the revamped all-electric crossover, as it suggests that demand for the vehicle remains strong.

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The new Model Y is Tesla’s highest volume seller. Thus, it would not be a surprise if the company’s numbers this Q2 2025 end up relying on the sales figures of the revamped all-electric crossover. Fortunately, Tesla has two more weeks before the quarter ends, which should be enough to increase its quarterly sales numbers to a notable degree.

Tesla’s domestic sales in China totaled 38,588 units in May, down 30% year-over-year but up 34% percent from April, as per data from the China Passenger Car Association (CPCA). In the same month, Giga Shanghai also exported 23,074 vehicles in May.

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SpaceX Ax-4 Mission prepares for ISS with new launch date

SpaceX, Axiom Space, and NASA set new launch date for the Ax-4 mission after addressing ISS & rocket concerns.

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(Credit: SpaceX)

SpaceX is preparing for a new launch date for the Ax-4 mission to the International Space Station (ISS).

SpaceX, Axiom Space, and NASA addressed recent technical challenges and announced a new launch date of no earlier than Thursday, June 19, for the Ax-4 mission. The delay from June 12 allowed teams to assess repairs to small leaks in the ISS’s Zvezda service module.

NASA and Roscosmos have been monitoring leaks in the Zvezda module’s aft (back) segment for years. However, stable pressure could also result from air flowing across the hatch seal from the central station. As NASA and its partners adapt launch schedules to ensure station safety, adjustments are routine.

“Following the most recent repair, pressure in the transfer tunnel has been stable,” a source noted, suggesting the leaks may be sealed.

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“By changing pressure in the transfer tunnel and monitoring over time, teams are evaluating the condition of the transfer tunnel and the hatch seal between the space station and the back of Zvezda,” the source added.

SpaceX has also resolved a liquid oxygen leak found during post-static fire inspections of the Falcon 9 rocket, completing a wet dress rehearsal to confirm readiness. The Ax-4 mission is Axiom Space’s fourth private astronaut trip to the ISS. It will launch from NASA’s Kennedy Space Center in Florida on a Falcon 9 rocket with a new Crew Dragon capsule.

“This is the first flight for this Dragon capsule, and it’s carrying an international crew—a perfect debut. We’ve upgraded storage, propulsion components, and the seat lash design for improved reliability and reuse,” said William Gerstenmaier, SpaceX’s vice president of build and flight reliability.

The Ax-4 mission crew is led by Peggy Whitson, Axiom Space’s director of human spaceflight and former NASA astronaut. The Ax-4 crew includes ISRO astronaut Shubhanshu Shukla as pilot, alongside mission specialists Sławosz Uznański-Wiśniewski from Poland and Tibor Kapu from Hungary. The international team underscores Axiom’s commitment to global collaboration.

The Ax-4 mission will advance scientific research during its ISS stay, supporting Axiom’s goal of building a commercial space station. As teams finalize preparations, the mission’s updated launch date and technical resolutions position it to strengthen private space exploration’s role in advancing space-based innovation.

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Sweden blocks Tesla FSD-style testing in Stockholm

It looks like FSD testing in Sweden would have to wait some time.

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Credit: Tesla AI/X

Tesla is putting a lot of effort into getting its Full Self Driving (FSD) system approved in territories outside North America. But while China seems to have embraced FSD fully, other countries like Sweden do not seem to be receiving Tesla’s automated driving system very well.

This became quite evident in a document from Stockholm City, which has started making the rounds online.

FSD Testing Rejected

The document, which was initially shared by X user @KRoelandschap, indicated that the Swedish Traffic Department in Stockholm had rejected Tesla’s request to start FSD testing in the city’s streets. Tesla has been demonstrating FSD in several areas across Europe, so it is not surprising that the company is also attempting to test its automated driving system in Sweden.

Unfortunately for Tesla, Sweden might prove to be a tough nut to crack. As per the City of Stockholm: 

“The Traffic Office is currently working on updating its approach to automation. At the same time, the city and the office are under heavy pressure from other ongoing innovation tests. Our ambition is to actively participate in and learn from the continued development in the field of automation. 

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“Based on this, and in combination with the fact that the current test is the first of its kind, which entails certain risks for both infrastructure and third parties, and that it is planned to be carried out throughout the city, the City of Stockholm considers it is currently not possible to approve the implementation of the test.”

Tesla’s Other Swedish Troubles

Sweden’s FSD testing rejection is not the only roadblock facing Tesla in the country. Since October 2023, Swedish unions have been engaged in an active effort to disrupt Tesla’s operations. The unions’ efforts have been varied, with some resulting in Tesla having difficulty launching more Superchargers in Sweden. Despite this, Tesla has remained stubborn and has refused to bow to the unions’ demands.

Fortunately for Tesla, it seems like its numbers are still strong. Despite the company’s decline in several European countries, the new Model Y is starting to see strong sales figures in Sweden. In early May alone, the new Model Y became the country’s most popular electric vehicle—a notable accomplishment considering the unions’ active efforts to disrupt Tesla.

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