Tesla shares slide as analysts cut targets and NHTSA opens safety probe

Tesla's stock has fallen sharply from its year‑to‑date high of $497 to around $381, a decline of about 23%. Wall Street analysts have largely shifted to neutral or hold ratings, with consensus price targets near $405 and several firms setting targets between $364 and $475. Concerns include a slowdown in vehicle deliveries, the removal of federal tax credits in the United States and China, and rising competition in autonomous driving. Tesla’s robotaxi program is reported to have fewer than 50 vehicles, far behind rivals such as Waymo, and the company’s free‑cash‑flow outlook is negative as capital expenditures rise.

Investors are also weighing the impact of a National Highway Traffic Safety Administration investigation into a fatal Texas crash involving a Model 3 that killed a 76‑year‑old resident. The probe follows the driver’s claim that an automated driver‑assistance system was active at the time of the accident. Analysts project Q2 deliveries in the 400,000–420,000 range, above the 358,000 units delivered in Q1, but the safety investigation continues to weigh on sentiment.