07:46 AM EST, 02/26/2025 (MT Newswires) -- Tesla's (TSLA) January deliveries in Europe were down roughly 50% from the year-ago period, a development that could derail the electric automaker's guidance for deliveries growth in 2025, Morningstar analysts said Tuesday.

"Lower deliveries reduce Tesla's total addressable market for ancillary products and services," the analysts said in a note. "These include autonomous driving software, charging, and insurance in select US states."

The Morningstar analysts maintained their fair value estimate for Tesla, stating that January deliveries in Europe typically represent less than 1% of the company's total annual global deliveries.

"A down month increases the risk that Tesla will not achieve growth in 2025, but we still think the goal is achievable," the analysts said.