Tesla (TSLA) Performing Poorly in Multiple Markets

Tesla’s (TSLA) performance in Europe continues to be poor, Schwab reporter Jenny Horne noted today. Specifically, the company’s deliveries in France have tumbled sharply. Meanwhile, a number of its China-based rivals are growing tremendously, she noted.

The automaker is slated to report its first-quarter deliveries data tomorrow.

A Weak Performance in France

Elon Musk’s EV maker delivered 3,100 vehicles in France last month, representing a decline of 37% versus March 2024. In Q1, its deliveries in France sank 41% year-over-year to slightly below 7,000.

Potential Market-Share Losses in China

In the first two months of this year, Tesla’s deliveries in China sank 14% year-over-year. Conversely, in Q1, Xpeng’s (XPEV) deliveries soared 331% YOY, while Nio (NIO) handed over 41% more EVs last quarter than in Q1 of 2024.

 “Is the rising tide in China lifting all boats or are Tesla’s rivals just taking market share from it?” Horne asked rhetorically.

The Recent Performance of TSLA Stock

In the last month, the shares are little changed, while they are down 33% in the last three months. However, in the last 12 months, they are still up 63%.

While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as TSLA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: The author owns shares of XPEV but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.