---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39715420.md"
description: "Tesla's latest delivery figures are out, and I've done a quick analysis using Longbridge's newly released skills. In one word: divergence is widening. On the surface, deliveries are still growing, but the growth rate is clearly not as 'crazy' as the past two years; it's more of a steady advance after a slowdown. Combined with the ongoing price adjustments this year, it actually signals that demand isn't as strong as imagined, at least not the kind of mindless explosion.However, if you only focus on the delivery numbers, it's easy to underestimate its fundamentals. Tesla's current problem isn't that it can't sell, but that it 'has to work harder to sell'. Core capabilities like production capacity, supply chain, and brand strength are still there, and cash flow hasn't deteriorated significantly. Essentially, it hasn't reached the stage of a logic reversal.What really makes the market conflicted is the issue of the valuation anchor. Previously, everyone gave it a premium as a 'tech company', telling stories about autonomous driving, energy, and AI. But now, with slowing growth, more and more people are starting to view it from the perspective of an 'automaker'. Once the narrative shifts, the valuation framework will follow it downward.So, the bulls and bears aren't really arguing over a single earnings report; they're betting on a long-term positioning: whether it's still that imaginative tech platform or gradually returning to a rational car manufacturer.There is indeed short-term pressure, but to be honest, the long-term story isn't over yet."
datetime: "2026-04-03T03:24:39.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39715420.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39715420.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39715420.md)
author: "[鸡煲南波万](https://longbridge.com/en/profiles/26848228.md)"
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/topics/39715420.md) | [繁體中文](https://longbridge.com/zh-HK/topics/39715420.md)


# Tesla's latest delivery figures are out, and I've …


### Related Stocks

- [Tesla, Inc. (TSLA.US)](https://longbridge.com/en/quote/TSLA.US.md)