EV manufacturer Tesla (NASDAQ:TSLA) performed exceedingly well in Norway for the third straight year, according to Reuters. Vehicle registration data indicated that in 2023, five of six new cars sold in Norway were battery-powered, with Tesla capturing 20% of the market, up from 12.2% in 2022.
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Norway’s electric vehicle market share climbed to 82.4% in 2023, up from 79.3% in 2022, with incentives supporting the country’s goal to cease petrol and diesel car sales by 2025.
Meanwhile, Tesla is set to announce its Q4 vehicle delivery figures today. Wall Street analysts anticipate vehicle deliveries between 475,000 and 480,000 units. This would be higher than vehicle deliveries of 435,000 in the third quarter of Fiscal Year 2023.
Is Tesla a Buy, Sell, or Hold?
Analysts remain sidelined about TSLA with a Hold consensus rating based on 12 Buys, 13 Holds, and five Sells. Over the past year, TSLA stock has surged by more than 100%, and the average TSLA price target of $243.59 implies a downside potential of 1.97% at current levels.
