2024 is shaping up to be a challenging year for Tesla, with Bernstein, a well-known financial research and investment firm, expressing concerns about the electric vehicle (EV) giant’s prospects.

While Tesla has been a major player in the EV industry for years, the company may face some hurdles in the coming year, according to analysts at Bernstein.

One of the main reasons behind Bernstein’s skepticism is the increasing competition in the EV market. As more automakers enter the electric vehicle space, Tesla’s dominance may be threatened.

Traditional car manufacturers are ramping up their efforts to produce EVs, offering consumers a wider range of choices.

This heightened competition could put pressure on Tesla to innovate and maintain its market share.

Additionally, supply chain disruptions and global economic uncertainties are factors that could impact Tesla’s performance in 2024.

The ongoing semiconductor shortage and supply chain bottlenecks have affected the entire automotive industry, and Tesla is no exception.

These challenges may lead to production delays and affect the company’s ability to meet customer demand.

Furthermore, regulatory changes and government incentives for EVs could play a significant role in Tesla’s 2024 journey. As governments worldwide implement new policies to promote electric vehicle adoption,

Tesla’s business model and pricing strategy may need to adapt accordingly. Changes in government incentives could influence consumer preferences and purchasing decisions.