Tesla (NASDAQ:TSLA) leads the EV market with its range of electric cars, battery energy storage and solar products.
Analysts have pointed out that Tesla’s growth in 2024 is expected to be slower compared to the previous year, with predictions indicating the delivery of 2.2 million units, a slowdown from the 37% growth observed between 2022 and 2023. The company’s focus will likely shift toward ramping up Cybertruck production and enhancing its existing vehicle lineup.
However, I believe TSLA will maintain its crown as one of the best EV stocks for investors to buy despite these short-term headwinds. The reason is that Teslas are still American-made, something that Chinese EVs can’t offer the market despite their impressive range of bells and whistles.
A recent survey published by Cars.com demonstrated that American-made vehicles sit at the top of consumer preferences, followed by price amid the ongoing cost of living crisis. I think this, along with being a premier brand in the EV industry, will position it as one of the top EV stocks for investors to keep in mind.