Notice of Index Modifications: Ferrari ETPs

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Author

Boyan Girginov

Date

Tesla Huge Q1’2024 Delivery Miss

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  • Tesla’s Quarterly Deliveries Fall for First Time Since 2020
  • EV maker blames production setbacks for the huge miss

Tesla announced a drop in its quarterly deliveries for the first time since 2020, falling short of Wall Street’s forecasts and raising additional worries regarding its growth outlook for the year.

The company’s vehicle sales for the first quarter were below the expectations set by analysts, showing a decline of 8.5% compared to the same period last year.

The electric vehicle maker, led by Elon Musk, disclosed that it had delivered 386,810[1] vehicles globally at the beginning of the year, marking its first annual drop in deliveries since 2020.

Source: Tesla Financials

This outcome enabled Tesla to regain its position as the leading electric vehicle (EV) seller globally on a quarterly scale, surpassing China’s BYD.

However, this development is concerning for the most valuable car manufacturer globally and reflects broader issues within the EV industry, where expansion is decelerating.

Several factors affected Tesla’s performance this quarter, such as disruptions in the supply chain caused by incidents in the Red Sea and stoppages at its German manufacturing facility prompted by environmental demonstrations.

The company also faced obstacles due to increasing competition in China and varied responses in the U.S. to its newly introduced Cybertruck.

Despite attempts to elevate sales through various promotions and emphasizing Tesla’s Full Self-Driving feature, these initiatives did not substantially enhance sales figures.

In the first quarter, Tesla’s vehicle production totaled 433,371[2], a decrease from the 440,808 vehicles produced in the same timeframe of 2023.

The discrepancy between the number of vehicles produced and those delivered indicates a potential demand problem, in addition to the recognized issues with production constraints.

Following a period of targeting an average annual growth rate of 50%, the prominent automobile manufacturer has signaled a significantly reduced growth rate for 2024, with competitors from China closely challenging its market position.

During the first quarter, BYD, which temporarily claimed the title of the world’s top EV seller in the last quarter, achieved global sales of 300,114 all-electric vehicles, marking an increase of 13% over the same period in 2023.

BYD’s electric vehicles, which are priced lower than those of Tesla, are predominantly sold in China. As the biggest automotive market in the world, China boasts a highly competitive electric vehicle landscape where Tesla finds itself increasingly challenged by domestic brands.

Tesla is experiencing a lack of new offerings, with its eagerly awaited affordable vehicle not anticipated to launch until the end of 2025 at the earliest. The company is set to announce its financial results for the first quarter on April 23.

Tesla’s stock has experienced a 32%[1] decline this year, ranking it as the second most significant underperformer in the S&P 500 index.

 

Investors can long Tesla using our 1x Tesla2x Tesla3x Tesla.

Alternatively, investors can short Tesla using our -1x Tesla-2x Tesla-3x Tesla.

 


Footnotes:
  1. Company data
  2. Company data
  3. Tradingview
Websim is the retail division of Intermonte, the primary intermediary of the Italian stock exchange for institutional investors. Leverage Shares often features in its speculative analysis based on macros/fundamentals. However, the information is published in Italian. To provide better information for our non-Italian investors, we bring to you a quick translation of the analysis they present to Italian retail investors. To ensure rapid delivery, text in the charts will not be translated. The views expressed here are of Websim. Leverage Shares in no way endorses these views. If you are unsure about the suitability of an investment, please seek financial advice. View the original at

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If you are not classified as an institutional investor, you will be categorised as a private/retail investor. At this time, we cannot send communications directly to private/retail investors. You are welcome to view the contents of this website.

If you are an ‘Institutional investor’, you affirm either that you are a Per Se Professional Client, or that you wish to be treated as an Eligible Counterparty Client, both as defined under the Markets in Financial Instruments Directive, or an equivalent in a jurisdiction outside the European Economic Area.

Risk Warnings

The value of an investment in ETPs may go down as well as up and past performance is not a reliable indicator of future performance. Trading in ETPs may not be suitable for all types of investor as they carry a high degree of risk. You may lose all of your initial investment. Only speculate with money you can afford to lose. Changes in exchange rates may also cause your investment to go up or down in value. Tax laws may be subject to change. Please ensure that you fully understand the risks involved. If in any doubt, please seek independent financial advice. Investors should refer to the section entitled “Risk Factors” in the relevant prospectus for further details of these and other risks associated with an investment in the securities offered by the Issuer.

This website is provided for your general information only and does not constitute investment advice or an offer to sell or the solicitation of an offer to buy any investment.

Nothing on this website is advice on the merits of any product or investment, nothing constitutes investment, legal, tax or any other advice nor is it to be relied on in making an investment decision. Prospective investors should obtain independent investment advice and inform themselves as to applicable legal requirements, exchange control regulations and taxes in their jurisdiction.

This website complies with the regulatory requirements of the United Kingdom. There may be laws in your country of nationality or residence or in the country from which you access this website which restrict the extent to which the website may be made available to you.

United States Visitors

The information provided on this site is not directed to any United States person or any person in the United States, any state thereof, or any of its territories or possessions.

Persons accessing this website in the European Economic Area

Access to this site is restricted to Non-U.S. Persons outside the United States within the meaning of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Each person accessing this site, by so doing, acknowledges that: (1) it is not a U.S. person (within the meaning of Regulation S under the Securities Act) and is located outside the U.S. (within the meaning of Regulation S under the Securities Act); and (2) any securities described herein (A) have not been and will not be registered under the Securities Act or with any securities regulatory authority of any state or other jurisdiction and (B) may not be offered, sold, pledged or otherwise transferred except to persons outside the U.S. in accordance with Regulation S under the Securities Act pursuant to the terms of such securities. None of the funds on this website are registered under the United States Investment Advisers Act of 1940, as amended (the “Advisers Act”).

Exclusion of Liability

Certain documents made available on the website have been prepared and issued by persons other than Leverage Shares Management Company. This includes any Prospectus document. Leverage Shares Management Company is not responsible in any way for the content of any such document. Except in those cases, the information on the website has been given in good faith and every effort has been made to ensure its accuracy. Nevertheless, Leverage Shares Management Company shall not be responsible for loss occasioned as a result of reliance placed on any part of the website and it makes no guarantee as to the accuracy of any information or content on the website. The description of any ETP Security referred to in this website is a general one. The terms and conditions applicable to investors will be set out in the Prospectus, available on the website and should be read prior to making any investment.

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Leverage Shares exchange-traded products (ETPs) provide leveraged exposure and are only suitable for experienced investors with knowledge of the risks and potential benefits of leveraged investment strategies.

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