Tesla's Automotive Slows, Margins Struggle
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Tesla 's automotive business appears to be stagnating while margins continue to contract.
U.S. sales growth has slowed to 2.6% year over year in the first quarter of 2024 .
The biggest challenge might come from low-cost Chinese rivals like BYD , which overtook Tesla as the world's largest EV maker in January .
Despite challenges to its EV business, Tesla trades for a valuation more than 90 times forward earnings.
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