/ December 10, 2025 Despite receiving a notable downgrade from a major Wall Street institution, Tesla’s stock demonstrated resilience in Wednesday’s trading session. The electric vehicle maker’s shares held their ground against analyst caution, drawing strength from encouraging operational updates from its critical Chinese market. Operational Milestones Counter Valuation Concerns The positive sentiment was primarily fueled by data released by the China Passenger Car Association (CPCA). Tesla’s sales in China, including exports, reached approximately 86,700 vehicles for the month of November. This figure represents a year-over-year increase of 9.9%, effectively countering narratives about waning demand within the world’s largest EV market. The results underscore Tesla’s ability to maintain its competitive position against formidable local rivals such as BYD. Adding to the positive operational news, Tesla’s Shanghai Gigafactory celebrated a significant production achievement this week, rolling its four-millionth vehicle off the assembly line. Demonstrating remarkable manufacturing efficiency, the facility required only about 14 months to produce its latest million units. This plant serves as a pivotal export hub for Tesla’s global operations. Analyst Downgrade Highlights Valuation Debate The stock’s stability came even as Morgan Stanley analyst Andrew Percoco adjusted his firm’s rating on Tesla from “Overweight” to “Equal-weight.” The move was attributed to the company’s ambitious valuation following its recent share price appreciation. The analyst suggested that many positive future developments, particularly within Tesla’s energy and non-automotive business segments, are already reflected in the current share price.