On September 28, Tesla Motors fell 3% in regular trading. The decline came as multiple negative catalysts converged, including an analyst downgrade, broader tech weakness, and regulatory delays in Europe.

JPMorgan lowered its price target on Tesla from $445 to $415, maintaining a neutral rating. Separately, UBS maintained its neutral rating with a $385 target, projecting Q3 global deliveries of approximately 470,000 units, representing a 5% year-over-year decline. Tesla is scheduled to report official Q3 delivery figures on October 2.

Adding to the pressure, a European Union vote on authorizing Tesla's Full Self-Driving system has been postponed from October to no earlier than December, dampening near-term overseas expansion expectations.

In China, Tesla reduced Model Y cash discounts by 3,000 yuan, narrowing incentives from 10,000 yuan to 7,000 yuan for select trims, signaling ongoing sales pressure in its second-largest market.

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