Tesla Is Making a Comeback in China and This Is What It Means for the EV Market TSLA Stock Price Could Soar

The electric vehicle market has seen its fair share of ups and downs in recent weeks but one key trend has caught the attention of investors and analysts alike Tesla, Inc. TSLA appears to be regaining momentum in China, a key market where it has struggled recently. According to China insurance registration data, Tesla vehicles saw a significant surge in registrations, with a total of 16200 vehicles registered for the week ended September 8th, as reported by CnEVPost.

This news is a welcome respite for Tesla investors who have been watching the company struggle to maintain its market share in China following the COVID-19 pandemic and increased competition from local rivals. Fund manager Gary Black, a well-known Tesla bull, has been quick to comment on the data, suggesting that the weekly registration figures indicate Tesla is on track to record its best quarter ever. With just three weeks remaining in the quarter, the data shows a 15 percent year-over-year and 25 percent sequential growth, a clear indication that Tesla is making a comeback in China.

However, not everyone is as optimistic about Tesla’s prospects. Sell-side analysts have begun trimming their quarterly delivery and earnings per share estimates for Tesla, ahead of the deliveries report, likely due on October 2nd. CANACCORD Genuity’s George Gianarikas reduced his estimate from 480,000 units to 469,200 units, which, however, is still higher than the consensus estimate of 458,000 units. Most analysts have suggested that they would look past the deliveries report and into the October 10th Robotaxi unveil event.

Lucid Group, Inc. LCID also made headlines this week, offering another sneak-peek into its midrange electric vehicle. The luxury EV maker, which recently held its Technology and Manufacturing Day, gave investors a glimpse into its latest model. While details are still scarce, the company has been working to develop a more affordable electric vehicle that can compete with the likes of Tesla’s Model Y. With Lucid’s focus on delivering high-quality electric vehicles and its commitment to innovation, investors are eagerly anticipating the release of its midrange EV.

In other news, Ford Motor Company is reportedly eyeing an electric restart in India, following its decision to exit the country in 2021. The automaker has been exploring options to re-enter the Indian market, with a possible focus on electric vehicles. This move comes as governments around the world continue to push for the adoption of electric vehicles and reduce emissions. With India being one of the largest automotive markets in the world, Ford’s decision to re-enter the market with a focus on electric vehicles could be a game-changer for the company and the industry as a whole.

Overall, it’s been an exciting week for the electric vehicle market, with key trends emerging and new developments on the horizon. As investors and analysts continue to monitor the market, one thing is clear - the electric vehicle space is here to stay, and companies like Tesla, Lucid, and Ford are leading the charge.