Layoffs likely to continue

According to reports, Tesla has laid off 14% of its workforce this year, with the number of employees dropping from 140,473 at the end of last year to approximately 121,000. The layoff rate is even higher than Tesla's previously stated 10%. Tesla CEO Elon Musk has stated that the company needs to address its inefficiencies, which have reached 25% to 30%.

Tesla insiders have revealed that some production line workers are concerned about a new wave of layoffs in July, which may depend on the performance of the second quarter financial report.

Q2 delivery data forecast

Tesla will release its second quarter delivery data in early July and release its second quarter financial report on July 19th. The global electric vehicle market has been growing weakly since the beginning of this year, and current analysts predict that Tesla's sales in the second quarter may decrease by 11% compared to the same period last year to 415,000 vehicles, lower than the previous consensus value of 455,000 vehicles.

Tesla's Future Development

Musk announced that the autonomous taxi (Robotaxi) will officially debut in August. Cathie Wood, founder of ARK Investment, is optimistic that Robotaxi will bring new growth momentum and expects Tesla's stock price to reach $2,600 in 2029.

Earlier this month, Musk's $56 billion compensation plan was approved at Tesla's shareholder meeting, demonstrating the trust of shareholders in his leadership abilities. The company has also recently issued stock option rewards to internal employees.