Tesla Inc (NASDAQ:TSLA) stock fell 0.22% (As on June 13, 11:26:21 AM UTC-4, Source: Google Finance) after the company is Upgrade Neutral to Buy by Gary Alexander. The analyst recommends a short-term trading position to capitalize on volatility driven by non-business-related headlines, while acknowledging longer-term brand concerns. “I believe investors have an opportunity to use the near term volatility in Tesla to ride near-term gains back to the high $300s, and I’m upgrading my viewpoint on Tesla to a buy. The company has a number of high-profile products in the pipeline that can help to refocus the narrative away from Elon Musk himself and generate excitement about Tesla’s engineering prowess again.”
Moreover, Tesla Inc. said it upgraded its Model S and Model X cars in the U.S. and raised their prices by $5,000, according to the electric vehicle maker’s post on X and its website. Prices were hiked for all configurations of the two models by $5,000, Tesla’s website showed. The all-wheel drive version of Model X costs $89,990, while its plaid variant is priced at $104,990. The model S all-wheel drive now costs $84,990 and its plaid variant is $99,990.
Meanwhile, Global sales of electric and plug-in hybrid vehicles rose 24% in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion. Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand. Global automakers face a 25% import tariff in the United States, the world’s second-largest car market, causing many of them to withdraw their outlooks for 2025. In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year. Tesla’s Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amidst shifting trade tensions. President Donald Trump’s stance towards emissions standards and uncertainties around tariffs has also hampered EV growth in North America. In the U.S., tax credits for EVs are still available but will begin phasing out from 2026, contributing to hesitation among buyers.
Additionally, Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in May, Rho Motion data showed. Sales in China grew more than 24% from the same month last year to 1.02 million vehicles. Europe posted a 36.2% increase to 0.33 million units, while North American sales edged up just 7.5% to 0.16 million. Sales in the rest of the world rose 38% to 0.15 million vehicles.