Taiwan Q1 Sales Up 106%, Tesla Shares Fall After Target Cut
Tesla’s Taiwan unit sales jumped 106% to 5,432 units in the first quarter despite a 3.4% decline in the overall new vehicle market. Tesla shares slid 1.7% following a price target cut from $500 to $424 by President Capital.
1. Taiwan Sales Surge
Sales of new vehicles in Taiwan rose 5.5% in March to 39,318 units, but first-quarter sales dipped 3.4% to 96,434 units. Tesla saw unit deliveries jump 106% to 5,432 vehicles in the quarter, outpacing many established brands.
2. Analyst Downgrade Impact
Tesla shares fell 1.7% after President Capital reduced its price target from $500 to $424 and maintained a buy rating. Trading volume reached 70 million shares as the market reacted to the revised outlook.
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Sources
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