Elon Musk May Have Endorsed Trump, But Tesla Would Have Done 'Even Worse' Without Biden's $7.5K EV Tax Credit, Says Fund Manager
Portfolio Pulse from Shanthi Rexaline
Tesla's weak performance is attributed to its own price cuts rather than Biden's policies, according to fund manager Gary Black. The $7,500 EV tax credit under Biden has been beneficial for Tesla. Analysts are divided on the impact of a potential Trump presidency on Tesla, with some seeing it as a negative for the EV industry but potentially advantageous for Tesla due to its scale.

July 22, 2024 | 7:54 am
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Tesla's weak performance is attributed to its own price cuts rather than Biden's policies. The $7,500 EV tax credit under Biden has been beneficial for Tesla. Analysts are divided on the impact of a potential Trump presidency on Tesla, with some seeing it as a negative for the EV industry but potentially advantageous for Tesla due to its scale.
The news highlights that Tesla's performance issues are due to internal price cuts rather than external political factors. The $7,500 EV tax credit has been beneficial, but the potential removal of such subsidies under a Trump presidency could be a mixed bag for Tesla. While it may hurt the broader EV industry, Tesla's scale could provide a competitive advantage.
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