Tesla(US:TSLA) Zhi Tong Cai Jing·2025-06-26 23:11Core Viewpoint - Tesla's CEO Elon Musk has dismissed the heads of North American and European operations due to dissatisfaction with the company's performance and declining market visibility, indicating a significant restructuring effort to boost global sales, particularly in Europe [1] Group 1: Executive Changes - Elon Musk has fired Omead Afshar, the head of North American and European operations, as part of a broader effort to address declining sales in the European market [1] - This marks the second high-level executive change at Tesla within the month, highlighting Musk's aggressive approach to reforming the company's leadership structure [1] Group 2: Sales Performance - Tesla's electric vehicle sales in Europe have dropped significantly, with a 28% decrease in May 2024 compared to May 2023, despite an overall increase in demand for electric vehicles in Europe [1] - The number of new Tesla vehicle registrations in Europe fell to 8,729 in May, a 40.5% year-over-year decline, reducing its market share from 1.6% to 0.9% [2] - Year-to-date, Tesla's market share in Europe has hovered around 1%, down from approximately 2% a year ago [2] Group 3: Analyst Expectations - Analysts expect Tesla to deliver approximately 393,000 electric vehicles globally in the second quarter, reflecting an 11% year-over-year decline but a 17% increase from the previous quarter [2] - Baird has revised its delivery forecast for Tesla's second quarter down to 377,000 vehicles, citing weak third-party data and production issues with the new Model Y [3] - UBS has maintained a "sell" rating on Tesla, projecting a second-quarter delivery of about 366,000 vehicles, which is 10% lower than market expectations [3][4] Group 4: Market Sentiment - Investors are increasingly focused on Tesla's upcoming fully autonomous taxi service, Robotaxi, which may overshadow concerns about electric vehicle delivery numbers [4] - UBS warns that disappointing delivery reports could serve as a reality check for investors, as historical data shows that missed delivery expectations typically lead to a decline in Tesla's stock price [4]