Tesla Health Check for Q1 2024: Shaky at Best

EV sales slow down in the US where Tesla generates 50% of its revenues

• EV sales in the US are horrible and getting worse. This is dangerous for Tesla as 50% of its revenues come from the US, where its prices are the highest in the world, as are its fixed costs.

• Fun fact: Tesla Q4 2023 sales in California—the EV “Mecca” of the US—dropped by 10% YoY while other BEV sales spiked by 80% YoY.

• EV startups, Lucid and Rivian, anno…