Tesla Stock Slumps on Slowing Demand Outlook, China Production Cuts, and Q1 Delivery Concerns

Tesla (TSLA) was downgraded by Mizuho on expectations of slowing EV demand into 2025. The firm predicts 2024 EV growth of just 15% vs. previous view of 25%.
Morgan Stanley's Adam Jonas compared Tesla to Toyota (TM), noting Toyota shares are up 50% in 2023 while TSLA dropped over 30%.
Tesla rumored to be cutting production in China to 5 days a week from 6.5 amid slowing EV demand and high inventory levels.
Tesla heading for Q1 delivery miss compared to Wall Street expectations, with forecasts coming down sharply.
Tesla stock down over 15% in March, biggest S&P 500 loser in 2023 so far as growth story loses momentum.