Coming off a difficult week, Tesla (NASDAQ:TSLA) looks poised to finish today in the red. Negative momentum across markets has pushed TSLA stock down for most of the week, even as generally positive coverage has dominated headlines. Elon Musk’s gesture of sending Starlink satellites to help Ukrainian citizens stay connected has been well received, but it hasn’t done much for the electric vehicle (EV) company.
So what is moving TSLA stock? It seems investors are focused on everything from analyst downgrades to slowing sales in China and European growth.
As this week wraps up, read more about these stories and the other top headlines driving interest in Tesla.
TSLA Stock News: Top Headlines of the Week
Tesla (TSLA) order rate is surging in the U.S. as gas prices drive consumers toward electric cars
Rising gas prices have been a common theme this week in coverage of Tesla. Pete Buttigieg, the U.S. Secretary of Transportation, kicked off the conversation. He suggested that, in the face of pain at the gas pump, Americans could find cost savings in electric vehicles. According to reports, some consumers are taking him up on that suggestion. It seems the order rate for Tesla vehicles in the U.S. is surging.
XPeng launches new EV in Europe. It’s low-priced competition for Tesla Model 3.
While Tesla sales decrease in China, one local automaker is stepping it up. Xpeng (NYSE:XPEV) announced this week that it is launching its P5 sedan in Europe, starting in four countries. Priced at $25,000, it could be an appealing option for cost-conscious drivers.
Tesla’s steer-by-phone vision swatted down by U.S. regulator
Tesla’s battles with regulators continue, and its latest fight is over controlling vehicles with smartphones and tablets. The National Highway Traffic Safety Administration (NHTSA) recently eliminated the requirement that automated vehicles be equipped with full driving controls. That doesn’t mean, though, that it’s ready to embrace remotely controlled vehicles. The NHTSA recently stated that its new definition for manually operated driving controls does not apply to “future controls that have not yet been developed.”
As gas prices soar, White House doubles down on Green New Deal
While gas prices have been rising, the White House has seized on the opportunity to emphasize the importance of clean energy. Earlier this week, Secretary of Transportation Pete Buttigieg touted the importance of EVs and the cost savings they provide to drivers. Buttigieg has been a friend to the EV sector since he took office. In February 2022, he credited Tesla as helping make EVs “possible in America.” This type of endorsement should help the U.S. embrace EVs even more, sending TSLA stock up in the process.
Tesla insists autopilot and full self-driving are safe, but U.S. senators aren’t buying it
The steer-by-phone setback isn’t the only tech hurdle that Tesla faced this week. The company recently submitted a letter to Sen. Richard Blumenthal and Sen. Ed Markey. In it, Tesla argued that its autopilot and full self-driving (FSD) tech is safe. Unfortunately for the company, the two senators don’t seem so convinced. They issued a joint statement, describing the letter as “evasion and deflection from Tesla.”
Tesla confirms Giga Berlin Model Y deliveries will start March 22
Earlier this week, TSLA stock briefly rallied in response to some good news — it received the green light to start manufacturing at its Berlin Gigafactory. This week also brought the confirmation that deliveries from the facility will begin later this month, helping Tesla continue securing its share of Europe’s booming EV market. According to invitations that Tesla has sent out, deliveries will kick off on March 22.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
