Tesla Celebrates 250,000th Electric Vehicle Delivery in the UK
Tesla has reached a significant milestone in the United Kingdom by delivering its 250,000th electric vehicle (EV). The company achieved this feat shortly after delivering its 200,000th car in the UK on March 28, 2024.
The 250,000th Tesla vehicle was presented to the Cotter family, a household of four with two children. They received a Tesla Model 3, highlighting the versatility of Tesla vehicles for families.
According to recent reports, Tesla’s sales in the UK surged by over 20% in February, with nearly 4,000 units sold. The Tesla Model 3 and Model Y secured the second and third spots as the UK’s most popular cars last month, with the Mini Cooper claiming the top spot.
Despite recent controversies surrounding Elon Musk, Tesla’s brand in the UK remains strong and unaffected by the negative sentiments seen in the United States.
In response to attacks on Tesla vehicles, stores, and Superchargers in the US, the FBI has established a task force to address these acts of “domestic terrorism.” Several individuals have been arrested in connection with these incidents, including one individual who drove a car into a group of protestors outside a Tesla store.
While concerns over anti-Tesla sentiments impacting the company’s stock have been raised on Wall Street, analysts have not significantly adjusted their target price estimates or forecasts in response to these attacks.
Some analysts have revised their price targets for Tesla as the first quarter comes to a close. Wells Fargo’s Colin Langan reduced Tesla’s price target to $130, while RBC lowered it to $320. However, other analysts like Canaccord Genuity have maintained their price target, citing potential delays in vehicle purchases due to the upcoming Model Y release.
Canaccord analysts stated, “Our estimate is informed by our opinion that some consumers are delaying vehicle purchases to access the new Model Y and 4Q24 earnings call commentary regarding Model Y-related factory retooling limiting production…We wonder whether purchase decision delays and production limitations are being misinterpreted as halted overall momentum for Tesla.”