Melius Research is out with a bullish note on Tesla, focusing on the opportunity ahead with autonomy and its A15 chip due for release in mid-2027...

STORY: :: TeslaTesla faces a sales crisis that seems to be intensifying. That’s while CEO Elon Musk has pivoted focus to the carmaker’s self-driving and humanoid pursuits... And winning shareholder approval for his $1 trillion pay package. The EV-maker has faced pressure in the world’s three biggest car markets: Europe, China and the U.S. For Europe, it’s particularly dark; with industry data showing sales plummeted 48.5% across the continent in October - compared to the same month last year. For the year, its sales are down about 30% in the region, while industrywide EV sales jumped 26%.A wave of Chinese brands has entered Europe with intriguing designs and broader choice on types. And stats showed rival BYD outsold Tesla in the region more than two to one. The weak European results suggest there’s no quick fix for the sales turmoil that began last year... :: April 2025Which was sparked by Musk publicly praising far-right figures, setting off protests across the region. Musk's gone relatively quiet on politics, but Tesla’s European business has not recovered, signaling more fundamental problems.More widely, Tesla's global vehicle deliveries are expected to decline 7% this year, figures showed, after a 1% drop in 2024. That’s despite record Q3 deliveries, boosted by American buyers racing to beat the expiration of an EV tax credit at the end of September. Yet as recently as 2023, Tesla’s Model Y SUV was the world’s top-selling car, gas or electric. Analysts say the EV maker's narrow lineup of models has grown stale - and needs a new model to revive sales. But, as Musk looks to robotics, there's little evidence of one in the pipeline. Tesla did not respond to requests for comment...