Tesla Loses A Third Of Its M-Cap This Year, Can India Turn Its Fortunes Around

The world’s EV leader Telsa seems to have lost some of its mojo in the past couple of years. The Elon Musk-owned company shocked analysts and the industry last month when it announced a near 9% dip in sales in Jan-Mar 2024 compared to last year. This was the first decline in quarterly deliveries since 2020. The company has lost a third of its market cap this year and is down more than 50% since it hit its life high in Nov 2021. There are various reasons for the pessimism around the Tesla stock. However, a silver lining could be the company’s much-anticipated entry into India. Though India remains a small premium-car market, analysts are hoping that breaching the Indian borders could give Tesla the booster it so badly requires.