<p><strong>特斯拉</strong>(TSLA 5.67%) 的股价年初至今已下跌 22%，面临众多商业和政治挑战，华尔街预计股价将进一步下滑。55 位分析师的平均目标价为每股 289 美元，较当前股价 316 美元有 8% 的下行空间。</p>
<p>悲观情绪的一个原因是首席执行官埃隆·马斯克与总统特朗普之间最近的关系破裂。两人在本月初因马斯克批评目前参议院的税收和支出法案而发生激烈的威胁和侮辱交换，关系迅速恶化。但特斯拉股东最近又收到了更多坏消息。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjEzMDEvaW52ZXN0b3ItMjguanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="467" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjEzMDEvaW52ZXN0b3ItMjguanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>特斯拉在四月份继续失去市场份额</h2>
<p>特斯拉在过去几个季度面临需求疲软。尽管全球电池电动汽车（BEV）市场销售增长了 13%，但该公司去年报告了十多年来首次年度汽车交付量下降。尽管更广泛的 BEV 市场销售增长了 38%，特斯拉的交付量在第一季度却急剧下降。</p>
<p>具体来说，特斯拉在第一季度在美国和欧洲失去了约 10 个百分点的市场份额，在中国失去了 3 个百分点。管理层将此归咎于限制 Model Y 生产的工厂更新，以及消费者对首席执行官埃隆·马斯克参与特朗普政府的反感。</p>
<p>然而，特斯拉在第一季度完成了工厂生产线的更新，马斯克也已减少了与政府效率部（DOGE）的职责。因此，随着这些问题的解决，几位分析师预计需求将在第二季度反弹，但迄今为止，购买活动的复苏并未如预期出现。</p>
<p>相反，特斯拉在四月份继续挣扎。在美国失去了 6 个百分点的市场份额，在欧洲失去了 5 个百分点的市场份额，在中国失去了 3 个百分点的市场份额。这对股东来说是个坏消息，因为这表明马斯克在政治上的极具争议的参与可能造成的品牌损害比预期的更为持久。</p>
<h2><strong>特斯拉股票在特朗普 - 马斯克争执后遭遇双重下调</strong></h2>
<p>埃隆·马斯克是 11 月选举中最大的捐赠者。他花费近 3 亿美元支持各种共和党候选人，其中大部分捐款都给了特朗普总统。在此之后，特斯拉的股价飙升，因为投资者认为他们的关系将有利于公司。Wedbush 的 Dan Ives 甚至称马斯克支持特朗普是 “一场历史性的赌注”。</p>
<p>不幸的是，这一赌注以惊人的方式失败了。马斯克不仅通过支持特朗普政府伤害了特斯拉品牌并推走了潜在买家，还通过公开批评特朗普的财政和贸易政策惹恼了总统（特朗普威胁称，如果马斯克在 2026 年中期选举中支持民主党候选人，将会面临 “严重后果”）。因此，特斯拉可能从他们的关系中受益的想法已经烟消云散。</p>
<p>因此，Baird 和 Argus Research 的分析师在本周早些时候将特斯拉股票评级下调至持有。Argus 的 Bill Selesky 写道：“我们担心特朗普总统与埃隆·马斯克之间的口水战，以及电动车税收抵免的到期，可能会进一步削弱对新特斯拉的需求。” 他还称马斯克是 “批评的引爆点”。</p>
<p>此外，几位分析师已下调了他们的盈利预测，以考虑市场份额损失和关税的可能影响。2025 年的共识预期已下调 29%，预计今年盈利将下降 20%。</p>
<p>结论是：特斯拉的电动车（EV）业务正在挣扎，该公司可能在未来几个季度报告糟糕的财务业绩。然而，马斯克仍然认为特斯拉可能成为全球最有价值的公司，因为它正在向自动驾驶和类人机器人领域倾斜。对于相信他愿景的投资者来说，投资论点并没有改变。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>特斯拉的股票今年迄今已下跌 22%，分析师预测将进一步下滑。平均目标价为 289 美元，较当前价格 316 美元有 8% 的下行空间。此次下跌归因于需求疲软以及埃隆·马斯克与特朗普总统之间的关系恶化，这对特斯拉的品牌造成了损害。分析师已将股票评级下调至持有，指出对需求和市场份额损失的担忧。盈利预测也已下调，预计今年将下降 20%。尽管面临挑战，马斯克对特斯拉在自动驾驶和机器人领域的未来仍持乐观态度</p>

<p><strong>Tesla</strong>(TSLA 5.67%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.</p>
<div class="lb-trans"><p><strong>特斯拉</strong>(TSLA 5.67%) 的股价年初至今已下跌 22%，面临众多商业和政治挑战，华尔街预计股价将进一步下滑。55 位分析师的平均目标价为每股 289 美元，较当前股价 316 美元有 8% 的下行空间。</p>
</div><p>One reason for the pessimism is the recent falling out between CEO Elon Musk and President Trump. Their relationship unraveled in a heated exchange of threats and insults earlier this month after Musk criticized the tax and spending bill currently in the Senate. But Tesla shareholders recently got some more bad news.</p>
<div class="lb-trans"><p>悲观情绪的一个原因是首席执行官埃隆·马斯克与总统特朗普之间最近的关系破裂。两人在本月初因马斯克批评目前参议院的税收和支出法案而发生激烈的威胁和侮辱交换，关系迅速恶化。但特斯拉股东最近又收到了更多坏消息。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjEzMDEvaW52ZXN0b3ItMjguanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F821301%2Finvestor-28.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Tesla continued to lose market share in April</h2>
<div class="lb-trans"><h2>特斯拉在四月份继续失去市场份额</h2>
</div><p>Tesla has struggled with weak demand for several quarters. The company last year reported its first decline in annual vehicle deliveries in over a decade despite 13% sales growth in the global battery electric vehicle (BEV) market. Tesla deliveries dropped even more sharply in the first quarter despite 38% sales growth in the broader BEV market.</p>
<div class="lb-trans"><p>特斯拉在过去几个季度面临需求疲软。尽管全球电池电动汽车（BEV）市场销售增长了 13%，但该公司去年报告了十多年来首次年度汽车交付量下降。尽管更广泛的 BEV 市场销售增长了 38%，特斯拉的交付量在第一季度却急剧下降。</p>
</div><p>To elaborate, Tesla lost about 10 percentage points of market share in the U.S. and Europe, and 3 points of market share in China in Q1. Management blamed the factory updates that limited Model Y production and backlash against the brand as consumers reacted to CEO Elon Musk involving himself in the Trump administration.</p>
<div class="lb-trans"><p>具体来说，特斯拉在第一季度在美国和欧洲失去了约 10 个百分点的市场份额，在中国失去了 3 个百分点。管理层将此归咎于限制 Model Y 生产的工厂更新，以及消费者对首席执行官埃隆·马斯克参与特朗普政府的反感。</p>
</div><p>However, Tesla finished updating its factory production lines in Q1, and Musk has stepped back from his responsibilities with the Department of Government Efficiency (DOGE). So, with those problems resolved, several analysts expected demand to rebound in Q2, but a resurgence in buying activity has so far failed to materialize.</p>
<div class="lb-trans"><p>然而，特斯拉在第一季度完成了工厂生产线的更新，马斯克也已减少了与政府效率部（DOGE）的职责。因此，随着这些问题的解决，几位分析师预计需求将在第二季度反弹，但迄今为止，购买活动的复苏并未如预期出现。</p>
</div><p>Instead, Tesla continued to struggle in April. It lost 6 percentage points of market share in the U.S., 5 points of market share in Europe, and 3 points of market share in China. That is bad news for shareholders because it suggests brand damage caused by Musk's polarizing foray into politics may be more persistent than expected.</p>
<div class="lb-trans"><p>相反，特斯拉在四月份继续挣扎。在美国失去了 6 个百分点的市场份额，在欧洲失去了 5 个百分点的市场份额，在中国失去了 3 个百分点的市场份额。这对股东来说是个坏消息，因为这表明马斯克在政治上的极具争议的参与可能造成的品牌损害比预期的更为持久。</p>
</div><h2><strong>Tesla stock gets a double downgrade after the Trump-Musk feud</strong></h2>
<div class="lb-trans"><h2><strong>特斯拉股票在特朗普 - 马斯克争执后遭遇双重下调</strong></h2>
</div><p>Elon Musk was the largest donor in the November election. He spent nearly $300 million to support various Republican candidates, and most of those contributions went to President Trump. In the aftermath, Tesla stock soared as investors assumed their relationship would benefit the company. Dan Ives at Wedbush even called Musk backing Trump a &#34;bet for the ages.&#34;</p>
<div class="lb-trans"><p>埃隆·马斯克是 11 月选举中最大的捐赠者。他花费近 3 亿美元支持各种共和党候选人，其中大部分捐款都给了特朗普总统。在此之后，特斯拉的股价飙升，因为投资者认为他们的关系将有利于公司。Wedbush 的 Dan Ives 甚至称马斯克支持特朗普是 “一场历史性的赌注”。</p>
</div><p>Unfortunately, that bet has backfired spectacularly. Musk not only hurt the Tesla brand and pushed away potential buyers by supporting the Trump administration but also managed to upset the president (who has threatened &#34;serious consequences&#34; if Musk throws support behind Democratic candidates in the 2026 midterms) by publicly criticizing his fiscal and trade policies. So, the idea that Tesla could benefit from their relationship has gone up in smoke.</p>
<div class="lb-trans"><p>不幸的是，这一赌注以惊人的方式失败了。马斯克不仅通过支持特朗普政府伤害了特斯拉品牌并推走了潜在买家，还通过公开批评特朗普的财政和贸易政策惹恼了总统（特朗普威胁称，如果马斯克在 2026 年中期选举中支持民主党候选人，将会面临 “严重后果”）。因此，特斯拉可能从他们的关系中受益的想法已经烟消云散。</p>
</div><p>Consequently, analysts at Baird and Argus Research earlier this week downgraded shares to hold. &#34;We are concerned that the war of words between President Trump and Elon Musk, along with the expiration of EV credits, could further weaken demand for new Teslas,&#34; wrote Bill Selesky at Argus. He also called Musk a &#34;lightning rod for criticism.&#34;</p>
<div class="lb-trans"><p>因此，Baird 和 Argus Research 的分析师在本周早些时候将特斯拉股票评级下调至持有。Argus 的 Bill Selesky 写道：“我们担心特朗普总统与埃隆·马斯克之间的口水战，以及电动车税收抵免的到期，可能会进一步削弱对新特斯拉的需求。” 他还称马斯克是 “批评的引爆点”。</p>
</div><p>Additionally, several analysts have revised their earnings forecasts lower to account for market-share losses and the probable impact of tariffs. The consensus estimate for 2025 has been cut 29% such that earnings are now expected to decline 20% this year.</p>
<div class="lb-trans"><p>此外，几位分析师已下调了他们的盈利预测，以考虑市场份额损失和关税的可能影响。2025 年的共识预期已下调 29%，预计今年盈利将下降 20%。</p>
</div><p>Here is the bottom line: Tesla's electric vehicle (EV) business is struggling, and the company is likely to report poor financial results in the coming quarters. However, Musk still thinks Tesla could be the most valuable company in the world as it leans into autonomous driving and humanoid robots. For investors who believe in his vision, the investment thesis has not changed.</p>
<div class="lb-trans"><p>结论是：特斯拉的电动车（EV）业务正在挣扎，该公司可能在未来几个季度报告糟糕的财务业绩。然而，马斯克仍然认为特斯拉可能成为全球最有价值的公司，因为它正在向自动驾驶和类人机器人领域倾斜。对于相信他愿景的投资者来说，投资论点并没有改变。</p>
</div>

Tesla Stock Investors Got a Double Dose of Bad News After the Feud Between President Trump and Elon Musk

- 特斯拉股价年初至今下跌 22%，分析师预期进一步下滑。  
- 特斯拉在美国和欧洲市场份额持续下降，品牌受损。  
- 分析师下调盈利预期，预计 2025 年盈利将下降 20%。

特斯拉股票投资者在特朗普总统与埃隆·马斯克之间的争执后接连收到两则坏消息