Tesla’s (TSLA) CEO, Elon Musk, is confident about a turning point for the EV giant, citing “a major rebound in demand” as market conditions improve. In a recent interview with CNBC’s David Faber, Musk claimed a recovery in sales, but he offered no supporting data. Meanwhile, TSLA stock has gained over 40% over the last month.
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Additionally, Musk addressed concerns about his polarizing image impacting Tesla’s performance, stating that a CEO’s political beliefs don’t significantly influence most people’s buying decisions and that many consumers aren’t even aware of those views. He also stated that the true value of Tesla lies in its autonomy and robotics segments.
Is Tesla Gearing Up for a Big Bounce?
This marks the second time Musk has made such claims in an interview. Previously, during a video conversation at Bloomberg’s Qatar Economic Forum, he pushed back against suggestions that Tesla’s sales were declining. When asked what steps he was taking to reverse the drop in sales, Musk confidently responded, “It’s already turned around.”
He also dismissed reports of weak sales in Europe, acknowledging it as Tesla’s softest market, but insisted that the brand remains strong elsewhere. He also added that sales numbers at this point are strong, and there is no problem with demand. Musk said, adding with a characteristic quip, “There are also people who are buying it because Elon’s crazy.”
His remarks come at a pivotal moment for Tesla, which has endured several challenging quarters amid rising global competition and Musk’s political influence. Notably, Tesla reported disappointing delivery figures, selling 50,000 fewer vehicles in Q1 2025 compared to the same period last year.
While it’s possible Musk has access to internal data suggesting a rebound in demand. But it’s important to remember that simply making a claim doesn’t make it true, especially considering Musk’s track record of bold statements.
Is Tesla a Good Stock to Buy Right Now?
On Wall Street, analysts have maintained a neutral stance on Tesla stock. According to TipRanks, TSLA stock has received a Hold consensus rating, with 16 Buys, 10 Holds, and 11 Sells assigned in the last three months. The average Tesla stock price target is $277.78, suggesting a potential downside of 17% from the current level.
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