Tesla advances goal of selling vehicles in challenging India market

  • Tesla (TSLA) tracks closer to selling cars in India after receiving approval to make or import different models in the nation.
  • A posting on the India Ministry of Road Transport and Highways' website indicates four different TSLA models were approved for being on the roads in India. Tests conducted by the regulator on the vehicles matched the requirements of the Indian market in terms of emission and safety and roadworthiness.
  • Tesla (NASDAQ:TSLA) still faces a long road in India to any meaningful market share due to the low rate of EV adoption and its expensive pricing in comparison to the average selling prices in the region. In addition, clean energy vehicles are not given the tax breaks they see in other markets.
  • Tata Motors, Maruti Suzuki, Hyundai, Bajaj Auto, Renault SA and Mahindra & Mahindra are some of the big sellers in India. Looking ahead, Prime Minister Narendra Modi's government aims to make the country a major manufacturing hub by encouraging domestic production and lowering the reliance on imports.

    For this year the company from Palo Alto could earn a total revenue around 50.03 billion USD. This is according to the average of the analysts' estimates. This is rather significant more than 2021's revenue of 31.54 billion USD.

    Historical revenues and results Tesla plus estimates 2021

    aandeel

    The analysts expect for 2021 a net profit of 5.61 billion USD. For this year the consensus of the result per share is a profit of 5.3 USD. The price/earnings-ratio is then an extreme 138.41.

    For this year analysts don't expect the company to pay a dividend. The average dividend yield of the automobile producers equals an attractive 2.78 percent.

    Newest target prices around 575 USD

    Sanford C. Bernstein & Co, ABN AMRO and Jefferies & Co. recently provided recommendations for the stock.

    Based on the current number of shares Tesla 's market capitalization equals 663.88 billion USD. 75

    On Friday the stock closed at 733.57 USD.

    Historical stock prices Tesla period 2007-2021

    stock analysis teslamotors

    ValueSpectrum.com News Wire & Equity Research: +31 084-0032-842
    news@valuespectrum.com

    Copyright analist.nl B.V.
    All rights reserved. Any redistribution, duplication or archiving prohibited. analist.nl doesn't warrant the accuracy of any News Content provided and shall not be liable for any errors, inaccuracies or for any actions taken in reliance thereon.