Tesla Q3 delivered more than expected but shares fell sharply

category:Finance
 Tesla Q3 delivered more than expected but shares fell sharply


On Friday, U.S. stocks generally fell due to trumps diagnosis of new crown and poor non farm data, but the decline was relatively limited. Both the S & P 500 and Dow fell less than 1% except for the NASDAQ which fell more than 2%.

were optimistic about Teslas leadership in electric vehicles, batteries and autonomous driving and see opportunities for further penetration in these key areas, said Adam Jonas, an analyst at Morgan Stanley. But from Teslas current valuation, we believe that the market has overdrawn a large part of its growth potential.

In addition, he also believes that competition in the electric vehicle market will continue to intensify in the future. Not only traditional automobile manufacturers, but also start-up companies and large-scale technology enterprises are accelerating their entry into this market.

Chinas electric vehicle companies, such as Weilai, ideality and Xiaopeng, have raised a large amount of capital through listing in the United States. According to the recently released data, the delivery volume of Xiaopeng automobile in September is 3478, and the ideal delivery volume in September is 3504. Although there is still a big gap compared with Teslas more than 10000 units per month, it will still bring some pressure on Teslas sales in China. Traditional car manufacturers, such as Renault and Mercedes Benz, have also launched an impact on Tesla in the European market.

In order to improve its competitiveness, Tesla China lowered the price of Tesla Model 3 again only five months later. On October 1, Tesla Chinas official website showed that the price of the model 3 standard endurance upgrade version made in China after subsidy was 249900 yuan, and that of the long range rear wheel drive version of the model 3 made in China was 309900 yuan.

Bearers may be more concerned about potential demand in the future. Some of the early data weve seen in Europe suggest that sales may be weaker than we expected, and we still believe that sales of model 3 in the United States have declined year on year, and that it is modely that keeps overall US demand up, he said

At the beginning of this year, Tesla put forward a sales target of 500000 vehicles this year. At that time, the company did not foresee the adverse factor of the spread of the global new crown epidemic. But since the outbreak, the company has not officially adjusted the target, and analysts had expected the company to achieve the goal after a sprint. In the first three quarters of the delivery data, this expectation is difficult to complete. Tesla has to deliver more than 181000 vehicles in the fourth quarter. At present, the second phase construction of the German and Shanghai factories has not been completed, so it is very difficult for Tesla to achieve the delivery of more than 180000 vehicles. At present, 30 Wall Street analysts estimate that Teslas benchmark expected average price in the next 12 months will be $302.56, 27% lower than Fridays closing price. Among them, the optimistic expectation is as high as 566 US dollars. Morgan Stanley gave a benchmark forecast of $272, an optimistic forecast of $527 and a pessimistic forecast of $102. Credit Suisse set its target price for Tesla at $400. Source: Science and technology innovation board daily editor: Wang Wenhua_ NF5982

Earlier this year Tesla set a sales target of 500000 vehicles this year, when it did not foresee the adverse factor of the spread of the new global crown epidemic. But the company has not officially adjusted the target since the outbreak, and analysts had expected the company to complete it after a sprint.

In the first three quarters of the delivery data, this expectation is difficult to complete. Tesla has to deliver more than 181000 vehicles in the fourth quarter. At present, the second phase construction of the German and Shanghai factories has not been completed, so it is very difficult for Tesla to achieve the delivery of more than 180000 vehicles.

At present, 30 Wall Street analysts estimate that Teslas benchmark expected average price in the next 12 months will be $302.56, 27% lower than Fridays closing price. Among them, the optimistic expectation is as high as 566 US dollars.

Morgan Stanley gave a benchmark forecast of $272, an optimistic forecast of $527 and a pessimistic forecast of $102. Credit Suisse set its target price for Tesla at $400.