Tesla Toppled As Global EV Leader, Rivian's Q4 Deliveries Disappoint, Fisker Goes The Dealer Way And More: Biggest EV Stories Of The Week
Portfolio Pulse from Shanthi Rexaline
Electric vehicle stocks fell in the week ending Jan. 5, with Tesla's Q4 deliveries exceeding expectations but not enough to lift the sector. Tesla lost its global EV leader status to BYD, faced a recall in China, and will provide 2024 guidance on Jan. 24. Rivian's Q4 deliveries slightly missed estimates, while Fisker adopted a dealer distribution model. Ford adjusted F-150 Lightning prices, and GM plans to compensate buyers for lost EV tax credits. The KraneShares Electric Vehicles ETF fell by 5.53% for the week.
January 06, 2024 | 2:59 pm
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NEUTRAL IMPACT
Ford adjusted prices for its 2024 F-150 Lightning, reducing costs for high-end models while increasing prices for other variants amid EV transition challenges.
Ford's price adjustments reflect a strategic response to market competition and transition challenges, with mixed implications for the stock.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEUTRAL IMPACT
Fisker is adopting a dealer distribution model, diverging from the direct-to-consumer strategy common among EV makers.
Fisker's move to a dealer model could affect its sales strategy and market penetration, but the impact on stock is uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
GM plans to offer incentives to compensate for the loss of the $7,500 EV tax credit, after being removed from the eligibility list.
GM's incentives could help sustain sales momentum despite losing the tax credit, but the overall market impact is neutral in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Rivian's Q4 deliveries slightly missed estimates, but full-year and Q4 production exceeded expectations, indicating mixed performance.
Rivian's delivery miss is negative, but strong production numbers may offset investor concerns in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Tesla exceeded Q4 delivery expectations but lost its position as the global EV leader to BYD and faced a recall in China. The company's full-year results and 2024 guidance are awaited on Jan. 24.
Tesla's Q4 delivery beat is positive, but losing the top spot and the recall may temper investor enthusiasm. Upcoming guidance will be crucial.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The KraneShares Electric Vehicles ETF ended the week slightly up on Friday but overall fell by 5.53%, reflecting broader EV market challenges.
The decline in KARS suggests a bearish sentiment in the EV market, likely leading to a short-term negative impact on the ETF's price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60