Tesla Stock (TSLA) Faces More Pressure as Goldman Sachs Cuts Q2 Delivery Forecast

Tesla (TSLA) was down over 14% in yesterday’s trading session. The electric vehicle (EV) maker was hit with a fresh blow today as Goldman Sachs analyst Mark Delaney lowered his price target on the stock from $295 to $285, while keeping a Neutral rating. He flagged weaker delivery trends across key global markets like the U.S., Europe, and China as one of the main concerns weighing on the stock.

Tesla’s Global Sales Slowdown Drives Forecast Cut

The 5-star analyst pointed out that Tesla’s U.S. deliveries in Q2 are tracking about 15% lower than last year, based on recent data from Wards and Motor Intelligence.

He added that in Europe, the situation looks even more strained. April registrations fell nearly 50% year-over-year, and May data, where available, showed a drop of around 20%. Delaney noted that this ongoing weakness could drag down Tesla’s growth in the region. Meanwhile, sales in China rose slightly compared to the early part of the year. However, when compared to the year-ago quarter, the sales were still down by 20%, reflecting continued volatility in the Chinese EV market.

Given the weak sales trends, Delaney now expects Tesla to deliver around 365,000 vehicles in Q2 2025, down from his earlier forecast of 410,000. This new estimate also falls below the broader consensus of 417,000 units.

Still, he believes the final number will hinge on June’s results and how much Tesla leans on price cuts or other offers to boost sales before the quarter ends.

Is Tesla a Good Stock to Buy?

On TipRanks, TSLA stock has a Hold consensus rating based on 16 Buys, 10 Holds, and 11 Sell ratings. Also, the average Tesla price target of $282.70 implies that shares are almost fully valued at current levels. Year-to-date, TSLA stock has lost 29.5%.

See more TSLA analyst ratings