JPMorgan lowers Tesla delivery forecast by 20%

JPMorgan has lowered its forecast for Tesla's first-quarter car deliveries by 20%, predicting 355,000 units, the lowest since 2022. This adjustment reflects concerns over CEO Elon Musk's controversial role in government affecting sales, especially in Europe. Tesla's stock rose 7.6% on Wednesday, marking its best gain in two months, despite being down 39% year-to-date. Analysts note that Tesla faces significant challenges, including potential changes to electric vehicle tax credits under the current administration. A recent poll shows 53% of Americans view Musk negatively, highlighting his polarizing influence. Other firms, including Goldman Sachs and UBS, have also reduced their delivery forecasts for Tesla.