Deutsche Bank: The last time Tesla deliveries were this low was 2022
Analysts at Deutsche Bank expect Tesla’s Q1 deliveries to be around 345,000 when it reports next week — the lowest they’ve been since 2022. That would represent an 11% year-on-year decline and a very bad start to Tesla’s promised “return to growth” this year.
Deutsche Bank, similar to a number of other analysts recently, cut its full-year vehicle sales prediction and now expects an annual decline of 5%.
The investment bank said weakness in Europe and the Model Y changeover are the main reasons for the decline.
It added, “Beyond the numbers, our sense is there is some level of brand damage happening in Western Europe and pockets within the US/Canada caused by Elon Musk’s political activities, in turn hurting demand,” noting that the damage is difficult to quantify.
