Motley Fool
Will Tesla Beat the Market in 2023?
In just a few months, Tesla (NASDAQ: TSLA) has gone from market darling to market dud. More recently, however, Tesla stock tumbled on reports of manufacturing slowdowns in China, a slight miss on its 2022 production target, CEO Elon Musk’s antics after he bought Twitter, and the company’s recent decision to slash prices on most of its vehicles by as much as 20%. For several years, Tesla essentially had the EV market to itself, at least in the U.S. However, that is rapidly changing as new EV companies like Rivian and Lucid ramp up production and traditional automakers like GM and Ford elbow their way into the fast-growing market.