Welcome my weekly $TSLA update.
1) Volkswagen confirms talks with Tesla over NACS charging standard.
Volkswagen is considering using Tesla's charging connector for its electric vehicles in North America, potentially joining Tesla's North American Charging Standard (NACS). The company is currently in talks with Tesla about adopting this connector for its Volkswagen, Audi, Porsche, and future Scout brands in the region.
2) Tesla set for record quarter in China.
Analysts predict that Tesla is likely to achieve a new sales record in China despite competition from local rivals. Estimates suggest Tesla could sell around 155,000 cars in China from April to June, marking a 13% increase from the previous quarter, although its market share may decline slightly due to increased competition from companies like BYD and Aion.
3) Tesla sales forecast for Q2: 440,000-450,000 deliveries.
As the second quarter comes to a close, Tesla remains the dominant force in the electric vehicle market, with estimated sales forecasts for Q2 ranging from 441,000 to 448,000 vehicles. The Model Y is expected to outpace other models, and while Tesla's production is increasing, concerns arise regarding the gap between production and deliveries. The upcoming release of the Cybertruck and a lower-cost Tesla model are seen as crucial for sustaining Tesla's growth.
4) Elon vs. Zuck: it's officially happening.
Tech billionaires Elon Musk and Mark Zuckerberg have engaged in social media banter about a potential cage fight between them, generating publicity and attention. However, it remains uncertain whether the fight will actually take place, and some speculate that the discussion may serve as a distraction from recent negative news surrounding Meta's decision to cut off news access in Canada and Musk's declining reputation–according to data from Morning Consult.
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