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Tesla has had a rough 2024, with its shares down 34% year to date. But the electric-vehicle space in general is having a difficult time, and, relatively speaking, Elon Musk’s carmaker is sitting pretty, believes one industry observer.
CFRA automotive analyst Garrett Nelson, speaking to Fox Business this week, noted that Tesla rival Fisker recently hired restructuring advisors amid talk of a possible bankruptcy. And major automakers, he added, are turning their focus more to hybrids—which give owners greater fuel efficiency without the range anxiety—as EV sales growth slows down.
“That really opens up a lane for Tesla to grow their market share even more in the coming years,” Nelson said.
