Tesla Bull Says EV Giant Already Has A $25K Car: 'It's Called A Used Model Y'
Portfolio Pulse from Anan Ashraf
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla bull, highlighted that Tesla effectively offers a $25,000 car through the resale of used Model Y vehicles. He pointed out the significant price drops in Tesla's used vehicles, including his own 2020 Model Y with full self-driving capability, which he is willing to sell for $25,000. The depreciation of Tesla vehicles has been a concern, with the average price of used Teslas declining for 19 consecutive months. Tesla is also planning to launch a new EV priced at around $25,000 by the second half of 2025.
March 30, 2024 | 5:42 am
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NEUTRAL IMPACT
Ross Gerber's comments on the resale value of used Tesla vehicles, particularly the Model Y, and the announcement of a new $25,000 EV could influence Tesla's stock. The depreciation issue might concern investors, but the plan for an affordable new model could be seen positively.
While the depreciation of Tesla vehicles, as highlighted by Gerber, could raise concerns among investors about the resale value and impact on brand perception, the announcement of a new, more affordable EV model by 2025 could counterbalance these concerns by potentially expanding Tesla's market reach and boosting sales.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90