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Future Fund LLC's managing director, Gary Black, thinks that Tesla Inc.'s (NASDAQ:TSLA) Model 3 and Model Y sales will record a surge if the company can solve a key element in CEO Elon Musk's plans for the company's future.
Check out the current price of TSLA here.
In a post on the social media platform X on Friday, the investor shared that Tesla will see a surge in Model Y and Model 3 sales once the EV giant "solves for unsupervised autonomy (1 critical disengagement per year)."
It's important to note that Tesla's Full Self-Driving (FSD) has been under investigation by NHTSA, as the agency said that it was reviewing reports of multiple traffic violations and accidents involving Tesla vehicles and Robotaxis using the FSD system.
Interestingly, Auto News reported on October 21 that the Tesla Model Y was the best-selling vehicle in Europe during the month of September, recording 25,938 units sold in the region. Despite the no.1 spot, however, the Model Y still reported an 8.6% YoY decline in sales compared to the same period in 2024.
The Model Y's strong sales performance comes on the back of a better-than-expected Q3 delivery performance for Tesla, where it delivered over 497,000 units, exceeding analyst and Wall Street estimates. Despite this, Tesla sales fell over 25% in Italy, according to data released by the Italian authorities earlier this month.
Meanwhile, TV host Jim Cramer has backed Musk's $1 trillion pay packet, which has drawn criticism from proxy advisory firms like International Shareholder Services (ISS) and Glass Lewis. Cramer said that Musk, as the CEO of Tesla, "was actually worth" the package.
Tesla scores well on Momentum, Quality and Growth metrics, but offers poor Value. Tesla also offers a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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