Investor Ross Gerber thinks that the Iran war has had a positive impact on Tesla Inc. (NASDAQ:TSLA) sales as gas prices reach new highs, prompting an EV shift.
Tesla Sales Have ‘Bottomed’
In a post on X, the Gerber Kawasaki co-founder said that the EV giant’s sales have “bottomed” and were “looking better.” He pointed to high fuel costs as one of the reasons. “High gas prices work their magic,” he said, adding that customers wanted “the best EVs despite the dissonance.”
Tesla’s Renewed Sales
Elon Musk recently hit back at critics of the Tesla brand, who said that the EV giant’s sales would be damaged following Musk’s right-wing political activism and his association with President Donald Trump.
Musk touted Tesla’s Model Y SUV as a best-seller across multiple markets worldwide, including the U.S. Notably, Tesla vehicles also emerged among the fastest-selling vehicles on the used market in the U.S.
The Model Y was also the best-selling car globally in 2023, 2024 and 2025. The vehicle also reached cumulative sales of over 4 million units. Tesla’s sales also grew in April in European markets like France and the Netherlands.
Ferrari’s New EV
Meanwhile, Ferrari N.V. (NYSE:RACE) entered the EV space with its first-ever electric vehicle, the Luce, which is priced at $640,000 and is designed by former Apple Inc. (NASDAQ:AAPL) design head Jony Ive and his collective LoveFrom. The Luce features a 122 kWh battery pack and has a range of 330 miles with four motors at each wheel, providing 1,000 hp.
According to Benzinga Edge Rankings, Tesla scores well on the Growth and Quality metric, while also providing a favorable price trend in the Short, Medium and Long term.
Price Action: Tesla shares were up 0.41% at $435.35 during the aftermarket trading on Wednesday
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