Tesla's

US Market Share Approaches to the Top in 2020!

  Tesla's US Market Share Approaches to the Top in 2020! Tesla's (TSLA) record-breaking share price rally in 2020 coincided with an all-time high in the company's share in the US electric vehicle market, according to analysts. “Tesla has more than quadrupled its market share in the US electric vehicle market over the past five years,” CFRA analyst Garrett Nelson told Yahoo Finance Live on Monday. However, we think the market shares are probably pretty close to the top in 2020. They haven't competed yet and have really benefited from it. This will change very soon. In fact, in the next six months, you will see Lucid and Rivian vehicles on the road. You also see a number of new models from traditional automakers in electric vehicles on the road. So it's really increasing competition that makes us cautious about stock here. " Nelson added that as competition heats up, it will likely be difficult to sustain the rise in Tesla's stock price. The CFRA rated Tesla's shares as Hold. In addition to smaller US-based startups such as Lucid and Rivian, a number of major automakers are also entering the electric vehicle space more ardently. While other former automakers, from Ford to Daimler and Volkswagen, have a range of electric vehicles available for purchase in the US; General Motors announced that it increased its investment plans in autonomous vehicles to $ 27 million. Wedbush analyst Dan Ives called growth in China a "cornerstone" of Tesla's success. He also stated that the company thinks about 40 % of deliveries of its 3 and Model Y vehicles will come from China by 2022.

Tesla's (TSLA) record-breaking share price rally in 2020 coincided with an all-time high in the company's share

Safety investigations Recent concerns about the safety of Tesla's vehicles also pose a short-term risk to stock, according to Nelson. The National Transportation Safety Board said they will investigate the Tesla Model S accident that occurred in Texas on Saturday. Preliminary investigations have shown that it is still unclear whether Tesla's autopilot driver assistance feature was activated during an accident or whether the vehicle had the "Fully Automatic Drive" feature. Tesla CEO Elon Musk said in a post on his official Twitter account, "The data logs recovered so far show that Autopilot is not activated," and wrote that the car did not purchase the Fully Automatic Driving feature. Nelson expressed his regret, saying, "There is a lot of scrutiny surrounding Tesla for autopilot technologies." Although the company announced that the crash vehicle did not activate the autopilot driver assistance feature and did not have the Fully Automatic Driving feature, it pointed out that the vehicles could mislead consumers about their capabilities and shortcomings.

Tesla's US Market Share Approaches to the Top in 2020!

 

Source: Yahoo.Finance

 

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