It’s a figure that’s enough to make you dizzy. Since November 5 and the election of Donald Trump, Tesla’s stock has jumped 80% according to the latest readings dating from Friday December 27. However, the manufacturer is not having a good year, but its relations with the future American president make investors particularly optimistic. Let’s take stock.
Disappointing sales?
While Tesla is about to reveal its latest quarterly figures, there is nothing to boast about for Elon Musk’s company. Indeed, as recalled the New York Timesthe company’s sales will be down about 6% in 2024 in the United States, giving it 4% of the overall car market.
In the European Union, the company’s sales fell 15% in November compared to the previous year to 211,000. Finally, they are also falling within the Middle Kingdom, which is now the first world automobile market.
Elon Musk, now very verbose on the political level, has barely mentioned the case of Tesla in recent weeks. Quoted by our colleagues, Kenneth Boyer, professor of business at Ohio State University, recalls that in 2018, the billionaire was enormously devoted to the manufacturer. He has since multiplied his activities with the acquisition of Twitter which became X and now a government position: “The question now is, what is Elon committed to, or is he spread too thin? »asks the expert.
Optimism remains in order
That said, investors very clearly continue to trust him. And it is above all the subject of the robotaxi which makes them optimistic. The entrepreneur is in a position of strength within the new power, so much so that some nickname him the “co-president”. He therefore seems able to influence the next government in order to eliminate regulatory obstacles to the deployment of autonomous vehicles.
While it will likely be many years before autonomous driving becomes a massive phenomenon, companies such as Google’s Waymo are already deploying their fleets in several major US cities. Ultimately, traders seem convinced that Tesla will be able to get ahead of it.
As Leonard Kostovetsky, associate professor at the Zicklin School of Business at Baruch College, explains very well: “The stock price is very closely tied to what people think of Elon Musk. whether you think he’s a genius or just lucky”.
