Will Tesla Stock Rise Further After Auto Tariffs, GM and Ford Shares Slip
The General Motor and Ford shared tumbled after the 25% tariff announcement, but Tesla stock surged higher early in US session.
Tesla shares have remained highly volatile but have outperformed traditional automakers and tech stocks this week, climbing over 10% since last Friday’s close. Despite a prolonged decline of more than 50% since mid-December, Tesla found strong support at the key $220 level twice this month. This support zone held firm, signaling a potential bullish trend, which was highlighted as a buying opportunity over the weekend in anticipation of U.S. auto tariffs.
Tesla Stock Chart Daily – Buyers Will Have to Push Above the 100 SMA
Last week, a bullish reversal pattern emerged, and this momentum carried into the new week, pushing Tesla stock closer to $291. The stock surged 7% early in the U.S. session but later erased most of those gains, ultimately closing over 1% higher. While most automakers and semiconductor firms ended the day in the red, Tesla’s domestic manufacturing operations provided a key advantage.
Tesla Benefits from U.S. Manufacturing Advantage
Unlike competitors such as General Motors and Kia, which rely heavily on imports for vehicle production in the U.S., Tesla has major factories in California and Texas. This gives the company a strategic advantage in the wake of the newly announced auto tariffs, as Tesla vehicles are built and sold domestically. The company has even positioned its cars as the “most American-made,” which could boost sales and consumer sentiment in the coming months.
Tesla Expands Into Saudi Arabia
In addition to benefiting from tariff policies, Tesla is set to expand its market presence in the Middle East. The company announced that it will begin selling vehicles in Saudi Arabia in April, marking its entry into the region’s largest market.
Tesla’s official launch event in Riyadh, scheduled for April 10, will showcase its electric vehicles along with solar-powered products. While Tesla has already been selling in other Middle Eastern countries, entering Saudi Arabia could significantly increase its regional footprint and drive further sales growth.
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