Beyond Cybertruck: Analyst Advises Tesla To Take Notes from Rivian's EV Pickup Strategy To Blow Past Wall Street Estimates
Portfolio Pulse from Shanthi Rexaline
Gary Black, managing partner at Future Fund, suggests that Tesla, Inc. (NASDAQ:TSLA) should consider launching a traditional-looking pickup to cater to different consumer segments. He believes this could help Tesla get closer to 10 million units per year by 2030, compared to Wall Street estimates of 6.5 million. Black cites the success of Rivian Automotive Holding, Inc.’s (NASDAQ:RIVN) R1 pickup truck as an example. The U.S. pickup truck market is currently dominated by Ford Motor Co.'s (NYSE:F) F-series, General Motor Corp. (NYSE:GM)-owned Chevy Silverado and Ram.
July 10, 2023 | 6:36 am
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POSITIVE IMPACT
Analyst suggests Tesla should consider launching a traditional-looking pickup to cater to different consumer segments, which could boost sales.
The suggestion to launch a traditional-looking pickup could potentially open up a new market segment for Tesla, leading to increased sales and revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ford's F-series is currently dominating the U.S. pickup truck market.
While Ford's dominance in the pickup truck market is mentioned, it's unclear how this news will directly impact Ford's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
General Motor Corp.'s Chevy Silverado is one of the top players in the U.S. pickup truck market.
While GM's Chevy Silverado's position in the pickup truck market is mentioned, it's unclear how this news will directly impact GM's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Rivian's success with its R1 pickup truck was cited as an example for Tesla to consider launching a traditional-looking pickup.
The mention of Rivian's success is positive, but it's unclear how this news will directly impact Rivian's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50