Even Tesla Needs To Tone Down Its EV Ambitions
Portfolio Pulse from Upwallstreet
Tesla Inc (NASDAQ:TSLA) reported a slower pace of growth in its latest quarterly performance, with revenue rising 9% to $23.35 billion, falling short of LSEG’s estimate of $24.1 billion. The company's gross margin fell to a more-than four-year low of 17.9%, below LSEG’s estimate of 18.25%. CEO Elon Musk emphasized the need to make cars more affordable amid a challenging global economy. He also revealed that the Cybertruck won't significantly boost cashflow during its first 12 to 18 months of production. Meanwhile, Ford Motor (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA) are facing challenges due to the ongoing UAW strike.
October 19, 2023 | 2:27 pm
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NEUTRAL IMPACT
Stellantis is aiming to become the world's largest seller of pickup trucks and vans within four years, despite the ongoing UAW strike.
While the ongoing UAW strike could create uncertainty, Stellantis's ambitious plans could potentially offset any negative impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Ford is facing challenges due to the ongoing UAW strike and is reshuffling its management to ramp up its capabilities.
The ongoing UAW strike and the company's management reshuffle could create uncertainty and negatively impact Ford's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
General Motors is also affected by the UAW strike and has announced a delay in the production of all-electric trucks.
The ongoing UAW strike and the delay in the production of all-electric trucks could create uncertainty and negatively impact GM's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Tesla's Q3 results fell short of estimates, with slower growth and lower gross margin. The company is focusing on affordability and cost-cutting measures.
Tesla's lower-than-expected Q3 results and the CEO's cautious remarks about the company's future outlook could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100