UBS cuts Tesla Q1 delivery estimate and says concerns are growing that robotaxis might not wow investors

Tesla registrations fell in California.

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• Tesla will report vehicle deliveries for the first quarter in the coming weeks.
• UBS analysts scaled back their delivery estimate, predicting a decline from Q4.
• They also said investors are expressing concerns about robotaxis and robotics initiatives.

Tesla stock has battled volatility for much of the last 18 months, and UBS says that sagging vehicle deliveries and stiffening competition in...