• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Tesla is now the top luxury car brand in the U.S.: buy Tesla stock?
Investing

Tesla is now the top luxury car brand in the U.S.: buy Tesla stock?

by January 12, 2023
by January 12, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Tesla Inc (NASDAQ: TSLA) has uncrowned BMW to become the top luxury car brand in the United States – a title that’s escaped the U.S. automakers since late 1990s.

Tesla overtook BMW last year in U.S. sales

According to Automotive News Research and Data Center, the EV behemoth sold over 491,000 vehicles in the United States last year. In comparison, BMW sold only 332,388 in the region in 2022.

Versus a year ago, Tesla noted a whopping 56% increase in its full-year U.S. sales. That number is all the more impressive considering the U.S. luxury segment recorded an 8.0% annualised decline in overall sales in 2022.

In the EV space, the multinational now has close to 67% share in the United States. Nonetheless, Tesla stock is currently down about 60% versus early August – a sell-off that CEO Elon Musk attributes to the aggressive rate hikes in 2022 (read more).

Analyst names Tesla stock his top pick for 2023

On the flip side, many associate the hit to Musk’s $44 billion takeover of Twitter – a deal that saw him offloading billions of dollars worth of Tesla stock.

Whatever the reason, though, Goldman Sachs’ analyst Mark Delaney sees the sell-off as an opportunity to buy a quality name at a steep discount. In a recent note, he named “TSLA” a top pick and said:

We prefer Tesla and General Motors, with Tesla a cost and tech leader in EVs/clean mobility, and both Tesla and General Motors’ Cruise among the leaders in autonomy, in our opinion.

Delaney has a price target of $205 on the Tesla stock that represents about a 70% upside from here.

The post Tesla is now the top luxury car brand in the U.S.: buy Tesla stock? appeared first on Invezz.

You Might Also Like
  • Avoid Market Crash Drawdowns with Options
  • What made Designer Brands stock tank 25% on Thursday?
  • 2 reasons to buy UK equities in 2023, according to Schroders
  • The UK Plans to Do Away With Ring-Fencing Regulations in Efforts to Deregulate London
Share
0
FacebookTwitterPinterestWhatsapp

previous post
How to play the market after the U.S. monthly inflation data?
next post
American Airlines lifts Q4 guidance on ‘strong demand’

You may also like

Sell Manchester United stock ahead of earnings. Here are the...

December 8, 2022

Analyst blasts Amazon for running a ‘not-for-profit enterprise’

December 22, 2022

What made Logitech shares lose 20% on Thursday?

January 12, 2023

XPeng stock rises 48% from a double-bottom pattern. Should you...

December 1, 2022

2022 Inflation statistics: how bad is it worldwide?

December 2, 2022

Steady PutWrite 2022 Year In Review

January 16, 2023

Here’s how Adobe did in its fourth financial quarter

December 15, 2022

S&P 500 price forecast and why today is a special...

December 27, 2022

Is it safe to buy big tech companies amid a...

December 22, 2022

Stephanie Link just bought a homebuilder stock

December 16, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,309 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Is it worth owning Costco stock...

    December 10, 2022

    L3Harris buying Aerojet is ‘not what...

    December 19, 2022

    Don’t expect a bull market anytime...

    January 3, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here