Elon Musk Unfazed By Tesla Resale Value Slide As Analysts See Buyers Flocking To Ford, GM: 'It Will Affect Them Over Time'
Portfolio Pulse from Benzinga Neuro
Despite a 30% YoY decrease in the resale value of used Tesla vehicles, CEO Elon Musk remains unconcerned. Analysts suggest this trend could drive buyers towards competitors like Ford and GM. Tesla continues to lead the market, breaking quarterly production and delivery records while reducing prices. However, industry experts believe Tesla's challenges could intensify over time, potentially driving buyers towards competitors.
July 28, 2023 | 3:41 am
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POSITIVE IMPACT
Ford could potentially benefit from the falling resale values of Tesla's vehicles, as buyers may be driven towards competitors.
As Tesla's resale values fall, buyers may be driven towards competitors like Ford. This could potentially boost Ford's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
GM could potentially benefit from the falling resale values of Tesla's vehicles, as buyers may be driven towards competitors.
As Tesla's resale values fall, buyers may be driven towards competitors like GM. This could potentially boost GM's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Tesla's falling resale values could potentially drive buyers towards competitors, despite the company's market dominance and record-breaking production.
The falling resale value of Tesla's vehicles could potentially drive buyers towards competitors, despite the company's market dominance and record-breaking production. This could negatively impact Tesla's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100