According to Bloomberg, Tesla encountered a bad start in 2024, with its market value evaporating by more than US$94 billion in two weeks. "Investors' main concern about Tesla is stagnant growth," Cowen analyst Jeffrey Osborne said. Tesla's price cuts will only intensify this concern. The current market competition is extremely fierce and the electric vehicle industry is starting to open up again. A round of "price war".
K chart TSLA_0
The list of main funds adding positions is updated in real time and can be viewed for free in the APP >>
According to Bloomberg, Tesla encountered a bad start in 2024, and its market value evaporated by more than US$94 billion in two weeks. "Investors' main concern about Tesla is stagnant growth," Cowen analyst Jeffrey Osborne said. Tesla's price cuts will only intensify this concern. The current market competition is extremely fierce and the electric vehicle industry is starting to open up again. A round of "price war".
"Tesla has failed to deliver on its promises of full autonomous driving and artificial intelligence, but these promises have been reflected in the valuation." Derevska said that for a company valued at $750 billion, Tesla is only It's not enough to be just another automaker.
According to Bloomberg, in the past 2023, Tesla ushered in its highlight moment, with its stock price more than doubling throughout the year. However, entering 2024, Tesla suffered a bad start and its market value evaporated by more than US$94 billion in two weeks.
Bloomberg said that multiple negative news followed one after another, hitting Tesla's stock price hard: first, the car rental giant Hertz's friendly attitude toward electric vehicles changed; second, Tesla's cars produced in China cut prices again; finally, there were signs that Tesla's Labor costs rise in Tesla.
"Investors' main concern about Tesla is stagnant growth," Cowen analyst Jeffrey Osborne said. Tesla's price cuts will only exacerbate this concern. The current market competition is extremely fierce and electric vehicles The automobile industry has begun another round of "price war."
Just two weeks into 2024, Tesla's market value fell by 12%, which was the largest decline in the same period since 2016. For comparison, in the first nine trading days of 2016, Tesla's market value fell by 14%.
At the same time, Tesla CEO Elon Musk also suffered a certain impact. According to the Bloomberg Billionaires Index, Musk’s wealth in 2023 is unparalleled in the world, but so far in 2024, his net worth has shrunk by US$23 billion.
Bloomberg analysis believes that in the short term, Tesla is unlikely to turn a profit. Since the beginning of 2023, Tesla has repeatedly cut prices to boost market demand, resulting in continued erosion of lucrative profit margins. In the third quarter of 2023, Tesla's gross profit margin on new car sales, excluding ex-regulatory credits (similar to low-carbon subsidies), fell to 16.3% from 27.9% in the same period last year. In addition, as production workers at U.S. factories get raises, the pressure on Tesla will only increase.
"We are experiencing a cyclical downturn in electric vehicles, but the competitive situation is exacerbating the cyclical pressure." Ivana Delevska, chief investment officer of Spear Invest, said that price cuts and plummeting profit margins are detrimental to competition. dynamic results.
In October 2023, Tesla warned for the first time in its third-quarter earnings report that demand growth for electric vehicles was slowing. Since then, global automakers and suppliers have issued pessimistic forecasts, with many even scaling back expansion plans.
Earlier this month, Tesla announced fourth-quarter delivery data. Although sales were better than analysts' expectations, it still lagged behind BYD in global electric vehicle sales. This result gave investors a rude awakening. Still, Tesla remains a key player in the global shift to electric vehicles and is ahead of potential rivals in several areas. BYD, for example, outsells Tesla but still lags behind in revenue and profits.
Bloomberg pointed out that for Tesla, the biggest problem may be that it has been too successful before and the outside world has too high expectations for it. As investors poured in, Tesla's market value ballooned, making it far larger than any other auto company in the world. However, Tesla is extremely vulnerable to negative news due to its high share price.
This is also the reason why many supporters believe that Tesla should not be compared with ordinary car companies. In the eyes of supporters, Tesla's real value lies in its ability to develop the first fully autonomous vehicle in the future. The problem is, Tesla has been promising this for years, and most experts believe the technology is still years, if not decades, away.
"Tesla has failed to deliver on its promises of full autonomous driving and artificial intelligence, but these promises have been reflected in the valuation." Derevska said that for a company valued at $750 billion, Tesla is only It's not enough to be just another automaker.
简体中文
ภาษาไทย
繁體中文
Indonesia
2024-01-17
394
