Core Viewpoint - Tesla's market capitalization has fallen below $1 trillion, with shares dropping over 8% to close at $302.80, marking a 16% decline in just four sessions, erasing $186 billion in market value [1][2]. Group 1: Sales Performance - Tesla's sales in January experienced significant declines across key markets, with European sales down 45% year over year, totaling 9,945 vehicles sold [3]. - In Germany, sales dropped to 1,277 units, the lowest since July 2021, while France saw a 63% plunge, marking the weakest performance since August 2022 [3]. - In China, January sales fell about 15% year over year, and in the U.S., sales were down 13% year over year, with approximately 42,000 vehicles sold [4]. Group 2: Market Challenges - The decline in sales highlights growing challenges for Tesla, which reported its first-ever annual dip in global vehicle deliveries in 2024, increasing pressure on the company to launch affordable models and accelerate autonomous driving initiatives [5]. - January is historically a slow month for car sales, and some analysts suggest that inventory shortages and the ongoing Model Y refresh may have contributed to the sales slump [6]. - Investor sentiment is becoming uneasy, leading to sell-offs rather than waiting for potential improvements from new models and self-driving features [7]. Group 3: Self-Driving Technology Issues - Tesla's anticipated self-driving update in China has disappointed local customers, with regulatory delays pushing the launch of advanced automation features into 2025 [8]. - A recent software upgrade introduced in-city navigation but still requires full driver attention, keeping Tesla's system at Level 2 automation, which raises concerns as competitors offer better features at lower costs [9][10]. Group 4: Leadership and Investor Sentiment - Elon Musk's involvement in various ventures, including his role in the government, is causing investor anxiety, as some fear it distracts him from Tesla during a critical time [12][13]. - Tesla's stock has underperformed compared to its peers, down 25% year to date, while the S&P 500 index has risen 1.5% in the same period [14]. - Tesla's forward P/E ratio stands at 112X, significantly higher than the group's average, indicating a stretched valuation amid slowing EV growth and execution risks [19]. Group 5: Future Outlook - Tesla is at a pivotal point, needing to deliver on promises of lower-cost models and expand its lineup to regain market share, especially in price-sensitive regions [22]. - The company plans to launch unsupervised Full Self-Driving as a paid service in Austin by June, with hopes of expanding to other markets by year-end, contingent on regulatory approval [23]. - Investors are advised to monitor Tesla's progress in autonomous vehicles, as FSD approvals and robotaxi developments will be critical for long-term growth [24].

米 轩然之子 | 成就新汽车人 aran 报名二维码 ■ 148 न 重 塑 金 球 नार 把 新 车 大 变 A I 产 握 汽 l 局 推 撰文 / 张霖郁 设计 / 师 超 来源 / Wall Street Journal 这两家打车平台正建设基础设施来维护高科技出租车，并培训工作人员来帮助乘坐无人驾驶车型的乘客。 两家公司都将推出无人驾驶汽车，Waymo和其他robotaxi公司的车型将出现在这几大打车平台上。 未来几个月，德克萨斯州奥斯汀，也就是特斯拉总部和亚特兰大的乘客将能够通过Uber APP叫到 Waymo。Lyft计划在亚特兰大提供May Mobility的无人 驾驶出租车。 Uber和Lyft已同意维护这些无人驾驶车队。他们正寻找存放汽车的地点，为它们配备充电器和高速互联网，并培训工人维护无人驾驶汽车所依赖的摄像 头、激光雷达和其他设备。 "要达到这种程度的细节，需要花费数年时间，"Uber移动业务高级副总裁安德鲁·麦克唐纳 (Andrew Macdonald)表示。"这不是轻轻一按开关就能做到 的。" 越来越多的迹象表明，无人驾驶出租车最终或将在更大范围得到推广，而不是只局限于少数试点 ...