Electric vehicle (EV) leader (NASDAQ: TSLA) is one of the "Magnificent Seven" stocks, which have excelled over the past year and set the pace for the broader stock market. However, Tesla's shares are experiencing an abnormally steep drawdown of more than 50% from their high.

It's not just Tesla, though. The broader EV industry is grappling with slower demand as consumers struggle with inflation and higher interest rates. Should investors be concerned that Tesla's growth struggles will stretch years into the future?

I don't think so. Here are six reasons why.

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Source Fool.com